H&R Block Inc. has agreed to refund as much as $19.4 million in fees paid by customers nationwide for individual retirement accounts as part of the settlement of a suit alleging the accounts were virtually guaranteed to lose money, according to New York Attorney General Andrew Cuomo.

H&R Block, the largest U.S. tax preparer, also will pay $750,000 in fines, fees and costs to New York, Cuomo said Monday.

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