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H&R Block, Intuit shares gain ground after IRS confirms refunds will be paid despite shutdown

“H&R Block Inc.’s stock HRB, +0.73% tacked on 0.1% and TurboTax parent Intuit Inc. shares INTU, +1.82% gained 0.7%” writes Reporter Editor for The IRS confirmed late Monday that it will start processing tax returns on Jan. 28 and provide refunds as scheduled.Shares of tax preparation companies edged higher in midday trade Tuesday, despite the Internal Revenue Service’s announcement that it would pay refunds as scheduled during the partial government shutdown.BMO Capital analyst Jeffrey Silber said that is a relatively late start to tax season compared with prior years, it is one day earlier than last year’s start.H&R Block’s stock has rallied 5.8% since the government shut down, while the S&P 500 SPX, +0.79% has advanced 5.9%.

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