H&R Block Offers No-Interest Loans to Cash-Strapped Customers

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In a continuing effort to find ways to secure the loyalty of its customer base, H&R Block has announced that it is offering 90 day no-interest loans on amounts ranging from $300 to $5,000 to help its customers who owe money to the IRS.

Block's Easy Pay balance-due loan is interest free if paid off by July 13, 2002. All outstanding loans will be assessed a finance charge retroactive to April 15, 2002.

"We wanted to provide the millions of taxpayers who will end up owing taxes with three months of interest-free breathing room," said Mark A. Ernst, president and chief executive officer of H&R Block Inc. "This should provide some immediate relief if they do not have enough available funds to cover a balance due."

The Easy Pay plan is intended to offer a no-cost alternative to other extended payment options, most notably setting up an installment plan with the IRS or charging amounts due to a credit card through Official Payments Corp.

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