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H&R Block Falls Most Ever as Simpler Tax Code Weakens Forecast

Brandon Kochkodin, Ben Steverman
H&R Block Falls Most Ever as Simpler Tax Code Weakens Forecast

Not all corporations are happy about President Donald Trump’s tax overhaul: H&R Block Inc. shares plunged after an earnings call revealed that one of the main provisions in the law could limit how much the tax adviser charges customers. H&R Block dropped as much as 21 percent on Wednesday -- the most ever -- after its sales forecast disappointed. Trump’s overhaul slashed the corporate tax rate to 21 percent from 35 percent.