New H&R Block CEO Jeff Jones to hold first session with shareholders amid tax reform

Nov. 22--H&R Block's new CEO Jeff Jones will hold his first quarterly session with shareholders and analysts on Dec. 6, as questions about tax reform in Washington linger on investors' and customers' minds.

Jones became the Kansas City-based tax preparation company's top executive in early October following the retirement of Bill Cobb at the end of July. Jones' addition had been announced shortly before H&R Block's previous quarterly conference call in August, but he sat out as then-interim CEO Tom Gerke led the session.

The conference call next month replaces the company's more elaborate investor day event that included opportunities for face-to-face contact between Block executives and those tracking the company's plans and performance.

Investor day also was the first chance for outsiders to learn about H&R Block's plans for the upcoming tax season.

H&R Block executives "will be previewing some components of the upcoming tax season" at the Dec. 6 event, spokeswoman Susan Waldron said in an email.

Cobb had scrapped the annual investor day event last year when H&R Block was making plans to recover from what had been its worst tax season in years.

Two years ago, Cobb had led an investor day that focused in part on the Affordable Care Act, which again is in the news as Congress considers eliminating the federal mandate that can affect individuals' income tax returns.

Congress also is working on extensive changes in tax rates, deductions and other key provisions of the tax code, though most of its changes are not expected to apply for the 2017 tax year and the upcoming filing of tax returns.

Tax expert Julie Welch said two proposed changes could impact 2017 returns directly.

Currently, taxpayers who convert a traditional IRA to a Roth IRA this year would be able to undo that conversion anytime before their 2017 tax filing deadline, including extensions, said Welch of Meara Welch Browne P.C. in Leawood. She said the proposed change would set the deadline to undo the conversion at the end of this year.

Welch said the proposal to limit interest deductions on larger mortgages would apply to mortgage debt borrowed after Nov. 2 this year.

Mark Davis: 816-234-4372, @mdkcstar

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