Liberty Tax Service's Preliminary Tax Season Results Show Continued Growth: Increased Brand Awareness Boosts Volume
March 05, 2008 // Franchising.com // (Virginia Beach, VA) Liberty Tax Service (www.libertytax.com) maintains its competitive position as one of the top three tax companies in the industry, showing a steady increase in tax returns, revenue and brand awareness for this tax season. Throughout this decade, Liberty Tax Service has demonstrated solid gains in an industry formerly dominated by tax giant H&R Block (NYSE:HRB) and Jackson Hewitt (NYSE:JTX).
Through February 29th, Liberty Tax Service reports a 20% increase in U.S. tax returns prepared and a 37% increase in system-wide revenues for the 2007 tax season. The company supports its growth strategy by focusing on its core computerized tax preparation products and services provided through storefront locations across North America. Liberty Tax Service's unique style of marketing and unsurpassed commitment to customer service have also been key factors in its success. Since 1997, the Company has grown from 119 offices located in Canada, to a total of 2,700 throughout the U.S. and Canada. This tax season, Liberty Tax Service added a remarkable 400 offices, and is considered the fastest growing retail franchise tax service in the industry's history.
"Our 2008 performance to date is encouraging on several fronts," said John Hewitt, CEO and Founder of Liberty Tax Service. "It indicates that we are gaining market share from our competitors and increasing our market awareness among taxpayers. Our gains are in sync with the latest IRS e-filing trends that show e-filing is up 5% this year. In addition, the new tax rebates should boost the entire industry this season, which will afford numerous service opportunities. For instance, Liberty Tax Service is offering to prepare tax returns at no charge until March 31st for select taxpayers who have no tax liability and are just filing to qualify for a rebate."
Liberty Tax customers can also prepare and file individual tax returns on the Internet through the company's website utilizing its eSmartTax product (www.libertytax.com ), or through the IRS Free File Alliance site (www.irs.gov/freefilealliance.com).
About Liberty Tax Service:
Liberty Tax Service is the fastest growing retail tax preparation company in the industry's history. Founded in 1997 by CEO John T. Hewitt, a pioneer in the tax industry, Liberty Tax Service (www.libertytax.com) has prepared over 5,000,000 individual income tax returns and currently operates over 2,700 offices throughout the United States and Canada.
Liberty Tax Service provides computerized income tax preparation, electronic filing and refund loans. With an emphasis on customer service including audit assistance, a money back guarantee, and free tax return checking, Liberty Tax Service is well known for its strong commitment to its client base. With 39 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service (NYSE: JTX).