CHICAGO (AP) ? H&R Block said Tuesday its fiscal fourth-quarter profit declined 11 percent from a year ago on slightly lower revenue and costs from restructuring. Despite preparing a record number of tax returns, the nation's largest tax preparer said sales of its financial products slipped, in part because it offered free refund advances to customers using its prepaid debit cards. Results included $31.2 million in severance costs and $5.5 million in impairment charges after the company eliminated 350 jobs and closed about 200 stores. Higher tax preparation revenue was offset by giving free refund anticipation checks to clients who agreed to deposit their refunds on the company's Emerald prepaid MasterCard.
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