The company, which has more than 4,400 offices, reported a net loss of about
Liberty typically loses money in the quarter and makes almost all of its profit during the fiscal fourth quarter, in which peak tax season falls.
The company said it expects its revenues to grow faster than expenses for the full fiscal year, but lowered its projection of a 5 percent increase in preparation fees for the next season that it said would be related to tax complexities in the Affordable Care Act. Liberty said it now expects ACA-related changes to be simpler than previously thought, so its fee increases associated with the ACA likely will range between 2½ and 3 percent in the coming season. The expected increase would be in addition to its standard annual fee increase, the company said.
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