The accounting and tax preparation business is closing locations across the country.

On Tuesday, June 12, 2018, H&R Block announced they will be closing 400 locations nationwide. This comes after poor performance and a bad financial outlook for the remainder of 2018. According to Fortune, H&R Block stock's dropped 18%.

The article states that H&R Block lowered their 2019 revenue projections to just below $3.1 billion. Analysts expected the company to project revenue to hit $3.14 billion. H&R Block cited do-it-yourself tax software, President Trump's tax overhaul, and oversaturation as the reason for the closures.

H&R Block CEO, Jeff Jones, said that the company will be closing locations that are within 5 miles of another location. Fortune reports that much like Starbucks, H&R Block is oversaturated.

H&R Block has over 10,000 locations according to Fortune. These are all the Hudson Valley locations:

  • Poughkeepsie (3)
  • Hyde Park
  • Red Hook
  • Kingston (2)
  • Newburgh (2)
  • Wappingers Falls
  • New Paltz
  • Hopewell Junction
  • Fishkill
  • New Windsor
  • Pawling
  • Saugerties
  • West Point
  • Ellenville
  • Brewster
  • Carmel
  • Beacon
  • Montgomery

More From Hudson Valley Post