With many indications showing that the Internal Revenue Service is behind in the number of tax returns filed so far this year compared to last year, Liberty Tax Service today reported positive growth in every area of standard industry measurements. 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 many forms such as the Schedule A to report itemized deductions can’t be filed until February 14, Liberty Tax is up 17.9% in the number of tax returns filed through January 31, and revenue has risen 18.7% from this time last year. Same store sales have increased 13.1%.
“Our company continues to exhibit solid growth across the board,” stated John Hewitt, president and founder of the nation’s fastest-growing tax service. “We believe the economy is slightly better than a year ago, and the payroll tax rebate has increased consumers’ take home pay. Many people are not hurrying to file as they did last year. Yet, Liberty is surpassing last year’s numbers.”
Liberty Tax is the only tax preparation company on the Forbes magazine’s list of “Top 20 Franchisors” announced last week.
Liberty Tax Service is the fastest-growing retail tax preparation company in the industry’s history. Founded 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 41 years of tax industry experience, Hewitt stands as the most experienced CEO in the tax preparation business, having also founded Jackson Hewitt Tax Service.
Liberty Tax Service provides computerized income tax preparation, electronic filing, and online filing through eSmart Tax. Each office offers customers audit assistance, a money back guarantee and free tax return checking. The Liberty Tax franchise opportunity is #1 in the category of tax preparation on Entrepreneur magazine’s “Franchise 500” for 2011.
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