Intuit and H&R Block Fall on Reported ‘DOGE’ Tax App Talks (1)

Intuit Inc. and H&R Block Inc. shares fell on Tuesday, after the Washington Post reported that the leaders of President-elect Donald Trump’s “Department of Government Efficiency” discussed creating a new way for Americans to file their taxes.

H&R Block fell as much as 8.7%, dropping to its lowest since August, while Intuit slid as much as 6.8%, erasing much of an advance that had come in the wake of the election.

Intuit, the maker of TurboTax, and H&R Block dominate the US tax preparation industry, earning billions of dollars a year providing digital and in-person services. The DOGE discussions follow ...