H&R Block Inc

The IRS has set a Friday deadline for pandemic-era penalty relief claims, putting pressure on tax-prep firms. About 84% of affected filers had income under $100,000.

The Supreme Court let stand a ruling that the IRS can assess taxes indefinitely on returns affected by preparer fraud, even if the taxpayer was unaware, affecting 75 million paid-preparer e-filed returns.

Intuit shares dropped nearly 4% Tuesday as investors focused on elevated spending forecasts overshadowing a bullish analyst upgrade and strong January-quarter results.

Intuit shares climbed 3.7% to $409.03 Friday before dropping roughly 4% in extended trading following third-quarter earnings guidance that fell short of analyst expectations. The company posted a 17% revenue increase for its second quarter.

Intuit shares ended Friday's session up 0.36% at $399.40, stabilizing after recent declines. The stock remains down roughly 40% year-to-date as AI concerns weigh on software valuations.