Changes in HTML5
Although previous versions of HTML restricted the a element to only containing phrasing content (essentially, what was in previous versions referred to as “inline” content), the a element is now transparent; that is, an instance of the a element is now allowed to also contain flow content (essentially, what was in previous versions referred to as “block” content)—if the parent element of that instance of the a element is an element that is allowed to contain flow content.
…
The following example is valid: A hyperlink that contains a paragraph.
<a href="javascript:void(0);"
onmouseover="return anno('Note: This paragraph is informative only.')
onmouseout="return anno_bye();">
<p>The following is introductory information…</p>
</a>
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