Yahoo! Presents the Tax Center on Yahoo! Finance; Expanded Relationship with H&R Block Enables Yahoo! Finance Consumers to Prepare and File Taxes Online

Business Wire, Feb 26, 2001

Business Editors

SANTA CLARA, Calif.--(BUSINESS WIRE)--Feb. 26, 2001

For the third consecutive year, Yahoo! Inc. (Nasdaq:YHOO), a global Internet communications, commerce and media company, is providing consumers with the Yahoo!(R) Finance Tax Center (http://taxes.yahoo.com), a comprehensive resource designed to help consumers complete and file their 2000 tax returns from any computer connected to the Internet. Combining education, tools, and tips from some of the most reputable names in taxes and finance, the Tax Center on Yahoo! Finance (http://finance.yahoo.com) offers content and services to help consumers ease the stress of preparing and filing their taxes. Consumers can access a wealth of tax information, obtain relevant tax forms, and prepare and file tax returns at one convenient online location.

"It is our goal to provide consumers with the tools and resources they need to make this tax season as painless as possible," said Tim Sheehan, director of production, Yahoo! Finance. "Within the Yahoo! Tax Center, consumers can get easy-to-understand help on hundreds of tax-related topics, seamlessly prepare and file their returns online, or print out federal and state tax forms. Now more than ever, consumers are turning to Yahoo! Finance for all of their tax needs, while saving time and reducing hassle in the process."

Through a relationship with H&R Block, Inc., Yahoo! consumers have a variety of options to complete and electronically file their taxes online. H&R Block's new online tax services provide innovative, comprehensive choices, no matter how taxpayers do their taxes or how complex their individual tax situations.

A Taxing Time Made Easier

The Tax Center on Yahoo! Finance can reduce the stress typically associated with tax time. Taxpayers will be able to tell what kind of refund or payment they can expect to receive or make this year by accessing the free tools provided by H&R Block, including the Tax Refund Estimator and Tax Withholding Calculator. Users of the Yahoo! Finance Tax Center can print out federal and state tax forms, access IRS instruction booklets, get easy-to-understand help on hundreds of tax-related topics, refer to important IRS deadlines on the Tax Calendar, and discuss relevant tax issues with other filers on Yahoo!'s active message boards. The Tax Center also offers a variety of tips on tax topics, ranging from dealing with capital gains to filing an extension.

Taxpayers can check out the Tax Guide for Investors, provided by Fairmark Press, or choose to read from materials provided by reputable tax resources, like H&R Block and Bankrate.com. Consumers will be able to browse from a variety of state profiles in order to receive in-depth information on the tax needs of each individual state. Additionally, the Yahoo! Finance Tax Center provides users with local listings of tax preparers and accountants from Yahoo! Yellow Pages (http://yp.yahoo.com), as well as the ability to purchase tax software and relevant books on Yahoo! Shopping (http://shopping.yahoo.com).

Filing Online with Ease

According to Forrester Research, an estimated six million U.S. households will prepare their own tax returns online in 2001. For quick, easy filing of both simple and complex tax returns, the Tax Center on Yahoo! Finance offers online tax preparation and filing through hrblock.com, which enables taxpayers to prepare and submit their completed tax return electronically to the IRS for a nominal fee. Users simply answer a series of easy-to-understand questions and the program automatically fills required IRS tax forms.

In addition, for those looking to combine the benefits of professional tax preparation with the convenience of the Internet, Yahoo! consumers can use an H&R Block professional. Taxpayers provide their tax information online and H&R Block prepares and sends a signed tax return to the customer, usually within 48 hours.

The IRS estimates that filing taxes electronically usually results in a refund delivery that is twice as fast than when filing by mail, and taxpayers who electronically file and request direct deposit of their refund receive it in as few as eight days. According to the IRS, the error rate for electronic returns is less than one percent while the error rate for paper returns remains steady between 20 and 21 percent.

About Yahoo! Finance

Yahoo! Finance, the No. 1 ranked financial site on the Web (MediaMetrix December 2000, custom report), provides consumers with a broad range of comprehensive online financial services and information essential to managing one's financial life. Consumers can quickly and easily navigate the wealth of investing and personal finance content and services on the site. By providing access to up-to-date, international market data, real-time stock quotes, portfolio management resources, and community tools such as message boards and clubs, Yahoo! Finance empowers consumers to make well-informed investment decisions. In addition, all personal finance needs are met with services including online account access, bill pay, tax filing, and loan and insurance quote retrieval. With Yahoo! Finance, consumers have access to the financial information and services they need anytime, anywhere.