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H&R Block Brings Taxes to the Gaming World with Immersive Roblox Experience

1. H&R Block launches a tax-themed experience in Roblox for Gen Z gamers. 2. The experience informs users about potential tax obligations from gaming activities. 3. Over half of Roblox's 85M+ users are Gen Z, representing a key market. 4. Gamers may receive 1099-NEC forms for taxable online earnings over $600. 5. H&R Block seeks to connect with young adults through digital engagement.

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Why Bullish?

The innovative marketing strategy could engage a younger demographic, leading to increased client acquisition, similar to how Starbucks expanded its brand by targeting younger audiences through mobile apps. Historically, effective youth engagement has a positive correlation with company growth.

How important is it?

The article outlines H&R Block's efforts to uniquely reach a larger audience, likely influencing future revenues positively. As the company diversifies its marketing strategies, the long-term potential becomes pivotal for growth in younger taxpayer segments.

Why Long Term?

While the immediate impact might be small, building brand awareness among Gen Z can foster long-term relationships, similar to how brands like Nike have maintained relevance with youth markets over decades.

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TAXH&R
KANSAS CITY, Mo., Feb. 28, 2025 (GLOBE NEWSWIRE) -- H&R Block (NYSE: HRB), the company that pioneered the tax preparation category 70 years ago, has launched a highly immersive, tax-themed experience ​with​in​ popular Roblox games Mega Mansion Tycoon and Club Roblox – the first-ever tax company to do so – for users ages 18 and older. The timing couldn’t be better as young adult Gen Z gamers may be unaware of their current tax obligations, and that their 2025 activity could trigger a 1099 form next year. H&R Block offers an immersive gaming experience that is authentically additive in the following ways:  Through video ads on the platform, Roblox will feature a custom H&R Block-branded universe, launching on Feb. 28 and accessible to gamers ages 18 and up around the world through March 28, 2025.Users interact with 30-second H&R Block content in exchange for exclusive and limited-edition items for their avatars, making the gameplay experience easier and more enjoyable.A Club Roblox integration will take the H&R Block interactivity a step further. In doing so, users can engage with Max, H&R Block’s “TaxCot,” in a branded in-game tax office within the Club Roblox and Mega Mansion Tycoon games.With Max’s help, players can complete tasks allowing them to level up – illustrating how it’s better with Block, and that H&R Block makes the tax process easy and convenient, no matter the complexity of the gamer's situation. WHY GAMING For H&R Block, the most trusted company in tax prep, the addressable audience for potential gaming taxpayers is huge: more than half of 85M+ Roblox’s daily active users are Gen Z, engaging across community-created and brand-created content and immersive experiences. According to the U.S. Department of Labor, in late 2023, the share of Gen Zers in the workforce surpassed Baby Boomers for the first time. “At H&R Block, our purpose is to provide help and inspire confidence for our clients – and that often means showing up authentically in and on the platforms about which they are passionate,” said Jill Cress, Chief Marketing and Experience Officer, H&R Block. “Gaming and taxes are an unlikely pairing, which is exactly why we created a tax-themed gaming experience on Roblox. We have found that Gen Z is skeptical of traditional advertising, and they expect more from companies than just promoting products. By integrating into Roblox, we are meeting this generation where they are, reminding them that tax season is here – and we are here to help." TAXES + GAMING  In the real world, outside the gaming universe, H&R Block is ensuring all avid gamers, including Roblox users, are aware of potential tax implications of receiving in-game currency. “Gamers may not realize that some of their online activities where they earn money can be taxable,” said Andy Phillips, Vice President, H&R Block’s The Tax Institute. “If their online earnings are more than $600, that income will generally be reported to the IRS on Form 1099-NEC.” Form 1099-NEC is used to report non-employee compensation. A breakdown of its purpose follows: For taxpayers: This form is typically issued to independent contractors, freelancers, and other self-employed individuals. This form will show the gross amount paid to that person during the year.For tax reporting: Recipients will use this information to properly report the income on their tax return. If they are conducting a business, the recipient will generally report the income on Schedule C, along with any allowable expenses. If the activity is more of a hobby, there are special rules for how to report hobby income and expenses. Gamers receiving a Form 1099-NEC for the first time may need help in determining if their activity rises to the level of a trade or business or looks more like a hobby. This may be a good opportunity to work with a tax professional to ensure the income is properly reported, and any allowable expenses are deducted. No matter how or what hardworking Americans do to make a living, they can be confident that H&R Block’s unmatched expertise will maximize their refund1. To learn more about H&R Block’s tax preparation services, many ways to file, and year-round financial support, visit hrblock.com. For media assets, visit maximize their refund1. To learn more about H&R Block’s tax preparation services, many ways to file, and year-round financial support, visit hrblock.com. For media assets, visit hrblock.com/tax-center/newsroom or for a downloadable Tax Season 2025 media kit, visit https://www.hrblock.com/tax-center/media-kit/tax-season-2025/. And for helpful tips and information, follow us on TikTok, Instagram, and Facebook. About H&R Block H&R Block, Inc. (NYSE: HRB) provides help and inspires confidence in its clients and communities everywhere through global tax preparation services, financial products, and small-business solutions. The company blends digital innovation with human expertise and care as it helps people get the best outcome at tax time and also be better with money using its mobile banking app, Spruce. Through Block Advisors and Wave, the company helps small-business owners thrive with year-round bookkeeping, payroll, advisory, and payment processing solutions. For more information, visit H&R Block News. H&R Block Contacts:Media Relations:    Heather Woodard, (816) 379-2568, heather.woodard@hrblock.com  Media Desk: mediadesk@hrblock.comInvestor Relations: Colby Brown, (816) 854-4559, colby.brown@hrblock.com Jordyn Eskijian, (816) 854-5674, jordyn.eskijian@hrblock.com     1 All tax situations are different. Not everyone gets a refund. See hrblock.com/guarantees for complete details.

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