tax season 2011: latest filing stats
signs of the economic times: tax pro’s are running 4.8% ahead of last year’s marks, while do-it-yourself’ers are…
tax
think middle-class taxes are high?
you’re right.
the middle-class has been picking up more of the tab for federal spending since the late 1980’s, and the rich have been paying progressively less. above-average burdens, for instance, appear thick and red and below-average thin and blue.
are refund anticipation loans dead?
“last nail in the coffin.”
the federal deposit insurance corporation has notified republic bank & trust of kentucky that the bank’s high cost refund anticipation loans are “unsafe and unsound,” effectively cutting off jackson hewitt and liberty tax, the second and third largest tax preparation chains in the country.
the fdic’s action follows a similar action by the office of comptroller of currency, which issued a regulatory directive on christmas eve against hsbc (h&r block’s ral partner bank) prohibiting that bank from making rals.
“this may be the last nail in the coffin for rals,” said adam rust, research director for community reinvestment association of north carolina. “if so, we will be glad to see the death of these high cost, high risk loans.”
practitioners report tax season price increases
as busy season gets off to slow start. by rick telberg with the irs playing catch-up and a client base still feeling the pressures of the great recession, tax practitioners in the latest 卡塔尔世界杯常规比赛时间 survey are reporting a marked … continued
new irs requirements could force big shake-out in tax prep industry
wall street: mom-and-pop tax shops in peril.
john hewitt, the founder of jackson hewitt and now ceo of liberty tax, expects a huge shakeout because of the new irs requirement for paid tax-return preparers to register with the government.
market share for the two largest tax chains, h&r block and jackson hewitt, has eroded by about 9% in the past four years as do-it-yourself online tax software gained ground. turbotax, for example, grew by about 121%. but the new irs ptin rules may slow the decline by forcing out mom-and-pop paid preparers, according to wall street analysts. read more →