Eugene David
...The One-Minute Pundit

Thursday, February 23, 2006


ADVERTISEMENT of the DAY:

H&R Block Inc., the company that helps millions of Americans complete tax returns, said late Thursday that it got its own taxes wrong in recent years.

The Kansas City, Mo.-based company said it will restate results for fiscal years 2004 and 2005, plus previous 2006 quarters, mainly because of errors in calculating its state effective income tax rate. The mistakes understated H&R Block's state income tax liability by about $32 million as of the end of April, 2005, the company added.

The restatements will knock 7 cents a share off 2005 fiscal-year earnings and 2 cents a share of fiscal 2004 results, the company said.


Figures; they even spell their name wrong too.

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