Photo by Joe Raedle/Getty Images

Tax preparation service H&R Block filed a lawsuit against Block, Inc. (formerly Square, Inc.) for trademark infringement on Thursday, CNBC reported.

ā€œTodayā€™s filing is an important effort to prevent consumer confusion and ensure a competitor cannot leverage the reputation and trust we built over more than six decades,ā€ said H&R Block president and CEO Jeff Jones in a press release.

H&R Block claims that Squareā€™s new name competes directly with Block in several areas of financial services, including a recently purchased tax service named Cash App Taxes ā€” previously Credit Karma Tax ā€” a $0 tax filing service similar to H&R Block.

We are protecting the reputation and trust we have built over 65+ years. This morning, we filed a trademark infringement lawsuit, seeking to prevent Block, Inc.ā€”formerly Square, Inc.ā€”from improperly using the Block name and family of trademarks. https://t.co/6mF55e32GR pic.twitter.com/L0bRGp2tyk

ā€” H&R Block News (@HRBlockNews) December 16, 2021

H&R Block said that the company experienced numerous indications that consumers are drawing a link between the companies due to their names being similar.

Block, Inc., co-founded by Jack Dorsey, announced the companyā€™s name change on December 1st, saying it ā€œacknowledges the companyā€™s growth.ā€ The company cited numerous inspirations for the name change in a Twitter post following the announcement, saying that the name represents the neighborhood blocks where the company finds its sellers, a blockchain, block parties full of music, obstacles, and more.

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