Tax preparer H&R Block  (HRB) - Get H&R Block, Inc. (HRB) Report shares took a major hit Wednesday after President Trump's administration unveiled their tax reform plan. The stock was trading up about 1.4% before the announcement, but has dropped as low as 1.44% afterwards, and on heavy trading volume.

The administration called the President's tax reform plan a "once in a generation opportunity." The headline of the plan cuts the corporate tax rate to 15% from 35%.

H&R Block has had a successful run for at least the past year, rising nearly 14% over the last 12 months. 

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