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H&R Block Taxed by Intuit's Do-It-Yourself Business Model

Benjamin Franklin once said, "In this world nothing can be said to be certain, except death and taxes." That comment has rung true more than 200 years later, and for that reason tax preparers including H&R Block (HRB) have been immune to many of the headwinds and disruptions other industries face.

Until now.

Do-it-yourself (DIY) tax preparation is where the industry's growth is headed, and while H&R Block does offer that service, rival Intuit (INTU) was early in its adoption and...