8-K

                       SECURITIES AND EXCHANGE COMMISSION

                             Washington, D.C. 20549


                                    FORM 8-K

                                 CURRENT REPORT


                       Pursuant to Section 13 or 15(d) of
                       the Securities Exchange Act of 1934


                         Date of Report: April 22, 1996

                 Date of Earliest Event Reported: April 14, 1997



                                 H&R Block, Inc.
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             (Exact name of registrant as specified in its charter)


                                    Missouri
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         (State or other jurisdiction of incorporation or organization)


                                     I-6089
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                            (Commission File Number)


                                   44-0607856
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                      (I.R.S. Employer Identification No.)


                  4400 Main Street, Kansas City, Missouri 64111
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           (Address of principal executive office, including zip code)

                                 (816) 753-6900
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              (Registrant's telephone number, including area code)




ITEM 5.  OTHER EVENTS

     On  April  14,  1997,  H&R  Block,  Inc.   ("Block")  and  Block  Financial
Corporation ("BFC"), the financial services subsidiary of Block, entered into an
agreement with Fleet Financial Group, Inc.  ("Fleet") for the purchase by BFC of
all of the stock of Option One  Mortgage  Corporation  for $190 million in cash,
subject to closing and post-closing adjustments.  The transaction was subject to
the approvals of the boards of directors of Block and BFC. Such  approvals  were
obtained on April 16, 1997, and the transaction was announced by Block that day.
The transaction is expected to be completed by the end of June and is subject to
regulatory approval and other customary closing conditions.


ITEM 7.  FINANCIAL STATEMENTS AND EXHIBITS

     (a) Financial statements of businesses acquired.

         Not applicable.

     (b) Pro forma financial information.

         Not applicable.

     (c) Exhibits.

         99.1 Press Release, dated April 16, 1997.


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                                   SIGNATURES

     Pursuant to the  requirements  of the Securities  Exchange Act of 1934, the
registrant  has duly  caused  this  report  to be  signed  on its  behalf by the
undersigned hereunto duly authorized.


                                    H&R BLOCK, INC.


                                    By:/s/ Frank L. Salizzoni
                                       ------------------------------------- 
                                       Frank L. Salizzoni
                                       President and Chief Executive Officer


Date:   April 22, 1997

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                                  EXHIBIT INDEX

Exhibit No.       Description of Exhibit
- -----------       ----------------------------------------------------------
   99.1           Text of press release issued by H&R Block, Inc. on
                  April 16, 1997


                                       4

EX-99.1

[CORPORATE LOGO]  H&R BLOCK


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NEWS RELEASE

For further information:

Linda McDougall
816-932-7542


H&R BLOCK TO PURCHASE OPTION ONE MORTGAGE COMPANY


FOR RELEASE WEDNESDAY, APRIL 16, 1997

     KANSAS CITY,  Mo. - H&R Block Inc.  (NYSE:HRB)  today  announced that Block
Financial Corporation, its financial services subsidiary, has agreed to purchase
the stock of Option One Mortgage Corporation from Fleet Financial Group for $190
million  in  cash,  subject  to  closing  and  post-closing   adjustments.   The
transaction  is  expected to be  completed  by the end of June and is subject to
regulatory approval and certain other conditions.

     Option One, based in Santa Ana, Calif.,  is a major originator of sub-prime
mortgage  loans with more than $1 billion in  originations  last year. It mainly
originates  and  services   one-to-four   family   residential   mortgage  loans
nationwide.

     "H&R Block's  strategic  vision is to be the  preferred  tax and  financial
partner  for our  customers.  With the  addition of Option  One,  we've  greatly
accelerated  our  entry  into the  financial  services  market,"  said  Frank L.
Salizzoni, president and chief executive officer of H&R Block Inc.

     "With its network of more than 5,000 mortgage brokers in 46 states,  Option
One provides an important  channel that  compliments  our current  wholesale and
retail mortgage channels," he said. "In addition, the acquisition will add scale
to Block Financial's existing mortgage banking and servicing business."

     "Block's  acquisition  of Option One is an excellent  fit," said Michael R.
Zucchini,  vice chairman of Fleet Financial Group. "We at Fleet are pleased that
Option One's  successful  management team will be aligned with a buyer that will
continue to support their growth and business strategies.



                                     -more -






     Option One was  acquired  by Fleet  Financial  Group in 1995 as part of its
acquisition of Plaza Home Mortgage  Corporation.  The company offers  adjustable
rate and fixed rate products primarily to sub-prime borrowers who do not qualify
for loans that conform to traditional banking guidelines.  Currently, Option One
has 41 business locations,  including 11 branch offices in nine states that form
the core of a nationwide origination net work.

     "Option One has a strong track record,  and we look forward to working with
its management team to provide the resources  necessary to expand the business,"
said William P. Anderson, president of Block Financial Corporation. "It's a good
operation with quality  management  that offers a service we believe many of our
existing tax customers will find attractive."

     Founded in 1955,  H&R Block,  Inc. is a diversified  company  offering tax,
financial  and  information  services.  H&R block is the  country's  largest tax
preparation firm,  servicing 14.9 million taxpayers in nearly 8,300 U.S. offices
in 1996. H&R Block Tax Services Inc.  handled  approximately  one in every seven
returns  filed  with  the  Internal   Revenue   Service  last  year.  H&R  Block
International  served 2.5 million  taxpayers in nearly 1,400  offices in Canada,
Australia  and 15 other  countries  and  territories  in 1996.  Block  Financial
Corporation,   started  in  1993,  develops  and  provides  financial  services.
CompuServe Corporation provides  online/Internet,  business network and intranet
access  services  for more than 5 million  home and  business  users  worldwide.
Quarterly results and other information regarding H&R Block are available on the
company's Web page at www.hrblock.com.

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