H & R Block To Offer Inisoft On-Line Tax Return Solution In Canada

Mike Godfrey, Tax-news.com, New York

29 August 2000

Inisoft Corporation announced last Friday that H&R Block, Canada's leading provider of tax and accounting services, has signed an exclusive licensing agreement for the Initax Online Personal Tax Preparation solution for the Canadian market. Under the terms of this agreement, H&R Block retains exclusive marketing rights in Canada for an H&R Block-branded version of Initax. Inisoft will continue to develop, maintain and host the H&R Block- branded version of Initax using its proprietary Iniforms and Inirender platforms.

"H&R Block is a brand that taxpayers trust. Inisoft's proven experience in the online tax marketplace combined with the expertise of H&R Block will create a powerful combination in the marketplace," said Jeff Yabuki, President of H&R Block International. "Our partnership with Inisoft allows Block to be the complete tax preparation solution for all Canadians, whether they file their own return or get help from one of our 8,000 tax advisors across Canada."

Using Inisoft technology, H&R Block will provide online tax return capability for all Canadians, regardless of province, as well as for Canadians who reside abroad. Additionally, H&R Block will work with Inisoft to provide a proprietary electronic filing solution to taxpayers that wish to file their returns electronically and do not have a Web Access Code.

"For over thirty years, H&R Block has been providing tax assistance to Canadian taxpayers. With Initax, H&R Block now offers taxpayers the ability to compute and electronically file their taxes online from any Internet enabled computer with total compatibility with Canada Customs and Revenue Agency's NETFILE program," said Eric H. "Rick" Winston, President and Chief Executive Officer of Inisoft Corporation.

H&R Block Canada, Inc. is a wholly owned subsidiary of H&R Block, Inc., a diversified company with subsidiaries providing a wide range of financial products and services. This year, H&R Block served 19.2 million taxpayers - more than any other company - through its more than 10,000 offices located primarily in the United States, Canada, Australia and the United Kingdom. H&R Block served another 1.8 million tax clients through its award-winning software program, Kiplinger TaxCut(R), and through its new online tax preparation services. H&R Block Financial Advisors provide consumers with financial planning and investment products. H&R Block Mortgage Corporation and Option One Mortgage Corporation offer a full range of home mortgage products. RSM McGladrey Inc. is a national accounting, tax and consulting firm with 100 offices nationwide, as well as an affiliation with 550 offices in 75 countries as the U.S. member of RSM International. Quarterly results and other information are available on the company's Web site at www.hrblock.com.

Inisoft Corporation is a Toronto-based Internet solutions group founded under the auspices of developing the next generation of Internet application technologies with a specialized focus in the development of enterprise level data collection and document distribution systems. Inisoft's proprietary platforms include Iniforms, a data collection and processing system designed to handle extremely high volumes of data, and Inirender, a document production and delivery system designed for the transmission and rendering of typographically accurate documents across the Internet. SOURCE Inisoft Corporation

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