Jackson Hewitt Tax Service Inc. (fka JHTXQ)

[Doubledown22]

Chase Bank has pulled out of supporting the RAL business. CHASE IS NOT A BANK THAT SUPPORTS JACKSON-HEWITT SO EVERYONE DON"T CRAP YOUR PANTS. Nothing has changed with JH's bank (Republic) that supports the 45% of the company's franchisees that had access to the RAL product this year.

This means that a whole lot of other tax preparers (independents, those insurance companies that you see in the tax prep business now, etc, etc..) won't have Chase Bank as an option this next tax season. From what has been occuring over the past several years the pool of banks that are approved by our socialist government to participate in the RAL program has been whittled down to 4 left now...

I told folks (competitors) not to get all warm and fuzzy about what they had and laugh at JH for losing part of their RAL business earlier this year. Karma is a b*tch I guess.

http://investorshub.advfn.com/boards/read_msg.aspx?message_id=48412573

"No, H&R Block, Liberty and other tax services need not be comfortable and smug thinking they are immune to the FDIC's obvious targeting of this industry and particularly the RAL lending institutions. The overall market is down for this service as well--across all of the industry."

Next week there will be a very important meeting between the IRS and the tax industry players at the semi-annual CERCA meeting in D.C. http://www.cerca.org/conf/default.htm
It is rumored that some major announcements about the entire RAL program will be made there by the IRS... IMO since it involves our government and particularly the IRS then it won't be good for private business in anyway. We'll see.

But remember the IRS and ACORN are demonizing the tax industry for it's "predatory RAL lending" in order to help "the little guy" who just "doesn't know any better to help themselves". You take the RAL out of the industry and you turn more people away from getting their taxes prepared by a tax professional.

Remember the IRS wants you to file for yourself using their free software or using Turbo Tax to file because the vast majority of people that do that don't know all the various rules and current exemptions that change constantly SO THE INDIVIDUAL TAX FILER OUT OF IGNORANCE ENDS UP PAYING THE GOVERNMENT MORE MONEY THAN THEY SHOULD on average.

End Result-IRS becomes a lot bigger INCOME PRODUCER for the Government. Sooooo, who is REALLY out to help "the little guy"??

All IMO,

DD22