News Column

BRIEF: Tax returns for Liberty Tax up 7.2 percent

February 20, 2014

By Dave Mayfield, The Virginian-Pilot

Feb. 21--JTH Holding Inc., Virginia Beach-based parent of Liberty Tax Service, said Thursday that it prepared about 1 million U.S. tax returns through Feb. 15, up 7.2 percent from the same period last year.

About 931,000 of the returns were prepared in offices, and about 75,000 were processed by the company online, JTH said.

The company said that systemwide revenue was up about 13 percent through Feb. 15 when compared with the year-earlier period. It said the increases came in spite of a 2 percent reduction in the number of offices as it became "more aggressive... in addressing underperforming franchisees."

"We are pleased with what we have seen so far this season," said JTH's founder and CEO, John Hewitt.


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Source: Virginian-Pilot (Norfolk, VA)

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