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Details of H&R Block, TaxAct merger ruling released

Washington federal judge reveals legal reasoning for rejecting merger

Details of the ruling that stopped the merger of H&R Block and TaxAct surfaced Thursday when U.S. District Judge Beryl Howell released her legal reasoning.

In the 86-page ruling, Howell discussed several key arguments in her decision to reject the merger. She agreed with the Department of Justice’s (DOJ) belief that the deal would harm competition in the market for digital tax-preparation services, which only has three significant players: H&R Block, TaxAct and Intuit, the maker of TurboTax.

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