Big Odds and Big Fun in Liberty Tax Million Dollar Madness Bracket Challenge

Contest gives fans a chance to win money and prizes, including gaming laptop and a drone.

VIRGINIA BEACH, Va. - March 14, 2017 // GLOBE NEWSWIRE // - It’s a numbers game when it comes to the brackets in the Men’s College Basketball Championship, and Liberty Tax Service is adding a few figures to the fun:

  • $1 million – The grand prize for a perfect bracket in the Liberty Tax Million Dollar Madness Bracket Challenge, which is open for entries until noon on Thursday;
  • 1 in 9,223,372,036,854,775,808 – That’s about 1 in 9.2 quintillion odds that someone will pick the perfect bracket and win the grand prize;
  • $396,000 – Federal taxes on the prize winnings at the highest tax bracket.
  • $2 billion – About how much U.S. employers may lose from workers distracted by basketball.

Liberty Tax Service’s Million Dollar Madness contestants fill out their bracket by picking the teams they think will win in the Men’s College Basketball Championship. The contest is open to legal adult residents of the U.S., excluding New York and Florida. Contest rules can be found at LibertyTaxMadness.com.

Although the odds are steep for winning the grand prize, Liberty Tax Service’s Million Dollar Madness includes guaranteed prizes that start at $2,500 for the first place bracket champion who scores the most points in the bracket challenge and $1,500 for the second place points finisher. Other runner-up prizes include a gaming laptop; a 65-inch 4K TV, a drone and more.

Prize winnings can have tax implications, but taxpayers need not worry themselves over such things. Liberty Tax Service can help any lucky prize winners determine their tax obligation. Liberty Tax Service offices will be open through the Men’s College Basketball Championship and the April 18 tax deadline to provide professional tax preparation.

About Liberty Tax, Inc.

Founded in 1997 by CEO John T. Hewitt, Liberty Tax, Inc. (NASDAQ:TAX) is the parent company of Liberty Tax Service. Liberty Tax is one of the fastest-growing tax preparation franchises. Last year Liberty Tax prepared over two million individual income tax returns in more than 4,000 offices and online. Liberty Tax's online services are available through eSmart Tax, Liberty Online and DIY Tax, and are all backed by the tax professionals at Liberty Tax locations and its nationwide network of approximately 22,000 seasonal tax preparers. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor to many charitable causes. For a more in-depth look, visit Liberty Tax Service and interact with Liberty Tax on Twitter and Facebook.

Media Contact:

Martha O’Gorman
Chief Marketing Officer
Liberty Tax Service
(888) 848-5344
martha@libtax.com

SOURCE Liberty Tax, Inc.

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