Liberty Tax Service Releases Tax Season Numbers Through February 15 "Challenging Season" says CEO

VIRGINIA BEACH, Va.--(BUSINESS WIRE)-- Despite an unusual start to tax season 2011, Liberty Tax Service reports a 14.2% increase in the total number of returns filed as of February 15, 2011 and a 15.1% increase in revenues generated. Same store sales show a 7.4% increase and net fees are up .8%. Since it was founded in 1997, The Company has demonstrated explosive growth in an industry formerly dominated by tax giant H&R Block (NYSE:HRB), and Jackson Hewitt (NYSE:JTX). Liberty Tax now operates 3,800 offices in the United States and Canada.

"Despite bitter snowstorms, and the fact that some forms, such as the Schedule A to report itemized deductions, were not eligible to be filed prior to February 14, the tax season is progressing at a great pace for Liberty," stated John Hewitt, CEO and founder of Liberty Tax.

"This has been a challenging beginning to the tax season, probably one of the most challenging in the 42 years I've been in the tax business. It's been hard to predict what would happen," said Hewitt. "We have a much clearer picture now."

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 has prepared over 8,000,000 individual income tax returns. With 42 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service.

The Liberty Tax Service franchise opportunity is #1 in the tax franchise category of the 2011 Entrepreneur "Franchise 500". Liberty Tax Service is the only tax franchise on the Forbes "Top 20 Franchises to Start." Each office provides computerized income tax preparation, electronic filing, and online filing through eSmart Tax. Other services include audit assistance, a money back guarantee, and free tax return checking.

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