Why H&R Block is banking on the ACA

Kansas City-based tax preparer H&R Block Inc. (NYSE: HRB) is forking out millions of dollars in marketing to let its customers and potential clients know about all the tax code changes related to the Affordable Care Act. And H&R Block is also giving away free advice.

On Thursday, the company is allowing anyone to come into one of its offices to receive free guidance on how the ACA could impact their taxes. Why? According to H&R Block President Kip Knight, the ACA represents the greatest change to the federal tax code in 20 years, and parts of the health care reform law require people to have health insurance or pay penalties on their tax return, the Kansas City Business Journal reports.

This year, the company is expecting that one in four of its customers – 25 million to 30 million people – will be impacted by 2014 code changes.

Read more from the Kansas City Business Journal.