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H&R Block announces reimbursement advance of up to $3,000

KANSAS CITY, Mo., Dec. 07 2017 (GLOBE NEWSWIRE) — Beginning Jan. 5, H&R Block (NYSE: HRB) will make available a Reimbursement advance* up to $3,000 from BofI Federal Bank to current and new customers. The Repayment Advance, an interest-free loan offered for a limited time at participating offices, is repaid from the client’s federal or state income tax refunds. If approved, customers will typically have access to the money the same day they apply.

“The tax refund is the most important financial transaction that many taxpayers make throughout the year. But the IRS can take up to 21 days to issue refunds. In some cases, taxpayers will not see their federal refunds in bank accounts until February 27,” said Kathy Collins, director of marketing and strategy at H&R Block. “The Refund Advance available from H&R Block gives eligible clients money sooner – up to $3,000 on filing day. Now taxpayers can find out sooner if they are prequalified to claim the reimbursement advance.

H&R Block Refund Advance Website with Prequalification Now Live

In addition to making appointments, taxpayers can experience Reimbursement Advance Prequalification Process in line. The process compares the taxpayer’s information, including last year’s tax situation, against the lender’s eligibility criteria, to see if the taxpayer would be eligible to apply for the loan. Although the pre-qualification process for the reimbursement advance is not guaranteed, for example, if there has been a significant change from last year’s tax situation, it is a tool for provide taxpayers with more information before they file their taxes.

“We help taxpayers win every day when it comes to their tax return,” Collins said. “The no-interest, no-fee loan repayment advance is an example of offering customers exceptional value beyond tax preparation.”

Millions of taxpayers face late repayments

the Protecting Americans from Increased Taxes Act (PATH), which was passed to help combat tax refund fraud, requires the IRS to withhold refunds from taxpayers claiming the earned income tax credit (EITC) or the additional child tax credit (ACTC) who file early. Last year, about 15 million taxpayers claiming the EITC or ACTC had to wait until the week of February 27 to get their refund from the IRS.

“For these customers and millions of others who want access to cash faster than the IRS can provide tax refunds, this loan can be a valuable lifeline to cover planned and unforeseen expenses.” , said Collins.

Taxpayers can learn more about Reimbursement advance in line.

* This is an optional tax refund loan from BofI Federal Bank, Member FDIC; it is not the taxpayer’s tax refund. Loans are available for amounts of $500, $750, $1,250 or $3,000. Approval and loan amount based on expected repayment amount, identity verification, eligibility criteria and underwriting. If approved, the funds will be loaded onto a prepaid card and the loan amount will be deducted from the taxpayer’s tax refund, reducing the amount paid directly to the taxpayer. Tax returns can be filed electronically without applying for this loan. Charges for other optional products or product features may apply. Limited time offer. Available at participating branches. Not available in Puerto Rico. HRB Maine license number: FRA2. See hrblock.com/refundadvance for details. ©2017 HRB Tax Group, Inc.

About H&R Block
H&R Block, Inc. (NYSE: HRB) is a global provider of consumer tax services. Preparation of the tax declaration services are provided by professional tax preparers at approximately 12,000 corporate-owned and franchised businesses retail tax offices worldwide and through H&R Block tax software products for the DIY consumer. H&R Block also offers adjacent Tax Plus products and services. In fiscal 2017, H&R Block had annual revenues of over $3 billion and 23 million tax returns were prepared globally. For more information, visit the H&R Block Newsroom.

About BofI Federal Bank

BofI Federal Bank is a federally chartered, FDIC-insured, full-service bank that offers a wide variety of deposit accounts, as well as financing for single and multi-family residential properties, small and medium businesses in target areas and some specialized financing. receivables. With approximately $8.6 billion in assets, BofI Federal Bank offers consumer and business banking products through its low-cost distribution channels and affinity partners. BofI Holding, Inc. (NASDAQ: BOFI) is the holding company of BofI Federal Bank. Common stock of BofI Holding, Inc. trades on the NASDAQ Global Select Market under the ticker symbol BOFI and is included in the Russell 2000® Index and the S&P SmallCap 600® Index. For more information about BofI Federal Bank, please visit www.bofifederalbank.com.

For more information
Susan Waldron, 816-854-5522, [email protected]