NYSE:HRB 29 October 2025 - 23 January 2026

Intuit shares rose about 2.5% by midday Friday, outpacing the broader market ahead of the IRS opening the 2026 tax-filing season on Monday. KeyBanc cut its price target for Intuit to $750 from $825 but kept an Overweight rating. Intuit traded near $562 after starting the day around $547. Rival H&R Block slipped 0.6%.

A federal funding lapse in late October 2025 forced the IRS to pause most paper refunds, though e-filers continued receiving payments. The IRS paid $311.6 billion in refunds for 2025, averaging $3,052 per taxpayer. New tax law raised credits for children and seniors, with analysts forecasting an $50 billion surge in refunds in early 2026. Virginia announced one-time rebates; India faces refund delays; Taiwan issued a NT$10,000 cash payment.

The IRS issued 102.1 million refunds for the 2025 tax season, down 1% from last year, but the average refund rose to $3,052—up 1.6%. Total refunds paid reached $311.6 billion, a 0.6% increase. Nearly all refunds, 93%, were sent by direct deposit. The decline in checks is linked to more accurate withholding and expiring pandemic credits.