Liberty Tax Founders Concerned with Tax Industry Upheaval

Press Information
For Immediate Release
July 19, 2010
   

 

CONTACT: Martha O’Gorman
Chief Marketing Officer
(800) 790-3863 ext. 8022
martha.ogorman@libtax.com

 

 

Liberty Tax Founders Concerned with Tax Industry Upheaval   

Hope to meet with H&R Block Founders Soon.

 

(Virginia Beach, VA)  In response to Thomas Bloch’s resignation as a director of H&R Block, the founder of Liberty Tax, John Hewitt, hopes to arrange a meeting.  “I am concerned about the tremendous upheaval in the retail income tax preparation industry.  The Bloch family was instrumental in creating the concept and I would like to see what they think about the current landscape,” said Hewitt today from his corporate headquarters in Virginia Beach, Virginia.

 

“I’ve been thinking about this, and it seems like an opportune time for the Blochs and Hewitts to convene.  My father Dan, my son Danny and I would be honored to meet with them,” commented John Hewitt, CEO and Founder of Liberty Tax Service. "My dad and I reached out to Tom Bloch in March of 1982 to bring our unique software to H & R Block. It will be interesting to see if we can align our interests 28 years later." 

 

“Ultimately, we share the same goal: to navigate a steady and successful future course for the major tax companies in challenging times.  Anyone who has been as dedicated and involved in the retail tax preparation business like the Blochs and the Hewitts must be feeling a touch of sadness watching market share erode,” added Hewitt.

 

The Hewitts also founded Jackson Hewitt Tax Service in 1982.  “From personal experience I know what it feels like to have a company that bears your last name teeter on the brink of failure, as Jackson Hewitt is doing today,” said Hewitt.

 

Of the top three tax service companies, Liberty Tax Service is the only one to demonstrate overall system growth during the challenging economic climate of 2010.  Throughout this decade, Liberty Tax Service has demonstrated solid gains in an industry formerly dominated by tax giant H&R Block (NYSE:HRB) and, for eight straight years, has grown by more returns than both Jackson Hewitt (NYSE:JTX) and H&R Block combined.

 

John Hewitt’s entry point into the tax industry was an H&R Block tax course he took in 1969.  Hewitt started as a tax preparer, then began his climb up the H&R Block management ranks. Hewitt advanced to a position as regional director, the youngest ever in the Block operating system.  Hewitt managed over 2,000 preparers in 250 offices in one of Block’s largest districts. 

About Liberty Tax Service:

 

Liberty Tax Service, http://www.libertytax.com, 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 41 years of tax industry experience, Hewitt is the most experienced CEO ever in the tax preparation business, having also founded Jackson Hewitt Tax Service (NYSE:JTX).

 

Liberty Tax Service provides computerized income tax preparation, electronic filing, and online filing through eSmart Tax.  The Liberty Tax Service franchise opportunity is #9 on the fastest-growing franchises list of the 2010 Entrepreneur “Franchise 500”, and was selected as one of the top 26 Franchises for Hispanics by PODER magazine in 2006, 2007, 2009 and 2010.  The company is a member of the International Franchise Association, and an active member of its MinorityFran and VetFran programs.

 

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Liberty Tax CEO John Hewitt is available to discuss industry trends.

CONTACT: Martha O’Gorman (800) 790-3863 ext.8022