Jackson-Hewitt

[Corduroy Frog]

I am friends with a couple very good preparers with Jackson-Hewitt. A year ago, we were hearing comments that the survival of the organization was in question. Now I notice on the stock exchange that their stock is up 175% in the last qtr of 2010.

Without opening the door to private statements or negative comments, does anyone know what bodes for them?

[solomon]

Getting 80% of their RAL's funded while HRB did not get funding sent the stock upward. That should help for this year at least as they will get some of HRB's business. Would not bet the house on the future, however.

[ChEAr$]

WalMart

Getting 80% of their RAL's funded while HRB did not get funding sent the stock upward. That should help for this year at least as they will get some of HRB's business. Would not bet the house on the future, however.

Just checked Yahoo for JH and see that they are increasing their presence in WalMart stores this year. Today at about 3:30 pm in local Walmart there is the JH booth with a "will return" sign hanging for 1:20 PM.

[BOB W]

Saw on TV HRB is offering RALs.

[okie1tax]

Jackson Hewitt

HRB is offering RACs. They are NOT offering RALs.

[newbie]

What is the difference between a RAC and a RAL?

[solomon]

What is the difference between a RAC and a RAL?

The former is not a loan but normally small bank processing fee and the refund the TP receives in 8 to 15 days depending upon the day of the week filed.

The latter is a loan by the bank and the loan fee is quite high and if approved, the TP has the loan in about a day.

[taxdude71]

So does that mean HR is going to get into trouble for false or misleading advertising?

[travis bickle]

H&rb

HRB is offering RACs. They are NOT offering RALs.

will be offering a Loan Product in addition to the RAC.

The Loan Product will be offered through H&RB's own bank (to the best of my understanding). Normally, this would **APPEAR** to be a conflict-of-interest since the tax preparer could be accused of "steering" the client to its own loan product as opposed to another loan product offered by a different bank. However, since the OCC has knocked HSBC out of the RAL business this year, H&RB can offer a loan product.

H&RB is NOT engaging in misleading advertising.

Why don't we all confine our replies to the question posed by the OP, instead of accusing companies of unethical behavior?

[taxmom34]

i wonder if these clients will realize that if they pay for their tax return at time of filing they will get their refund in less than two weeks by doing direct deposit. what a lot of complaints at the beginning was that they were getting checks from a state other than their own and had to deposit and wait for the check to clear, which was another week.

JH has opened for business in our local walmart, first time in our city. HRB was there for the past four years

[Jesse]

will be offering a Loan Product in addition to the RAC.

The Loan Product will be offered through H&RB's own bank (to the best of my understanding). Normally, this would **APPEAR** to be a conflict-of-interest since the tax preparer could be accused of "steering" the client to its own loan product as opposed to another loan product offered by a different bank. However, since the OCC has knocked HSBC out of the RAL business this year, H&RB can offer a loan product.

H&RB is NOT engaging in misleading advertising.

Why don't we all confine our replies to the question posed by the OP, instead of accusing companies of unethical behavior?

I guess I'll need to watch the ad again. Personally I was confused because I heard HRB was unable to offer RAL's this year, which I was happy about, NOT because of ethics, but this year because of competition. With the late February filing season for many filers I am at a disadvantage if people can & will go down the road to pay for a RAL because they are in desperate need for money this year.

Then when I saw the ad for HRB it sounded to me as if they would be able to walk out of the office with a check for up to $9,999, but I may have misunderstood. If they are offering a loan against the anticipated refund I have a feeling my business may go down this year only because of the Schedule A not being able to be efiled until late. Personally I don't want to circumvent by filing and amending - just too many Schedule A's!

[MLINDER42]

Jackson Hewitt

I just spoke to a friend who is a tech for HRB what they are going to have for previous clients a separate work station to take out a emerald card loan up to the amount of the refund.They must have an existing emerald card in their possession.If you do not have a card from last year you can not do it.If you want to do it next year you must deposit this years refund to the new card.The person who prepares the return will not do the loan They will have other people to do it.

[Matt Sova]

Unethical?

will be offering a Loan Product in addition to the RAC.

The Loan Product will be offered through H&RB's own bank (to the best of my understanding). Normally, this would **APPEAR** to be a conflict-of-interest since the tax preparer could be accused of "steering" the client to its own loan product as opposed to another loan product offered by a different bank. However, since the OCC has knocked HSBC out of the RAL business this year, H&RB can offer a loan product.

H&RB is NOT engaging in misleading advertising.

Why don't we all confine our replies to the question posed by the OP, instead of accusing companies of unethical behavior?

Offering these ripoff loans is unethical, in my opinion. Hopefully the Fed will eventually shut them all down.

[Jesse]

I am friends with a couple very good preparers with Jackson-Hewitt. A year ago, we were hearing comments that the survival of the organization was in question. Now I notice on the stock exchange that their stock is up 175% in the last qtr of 2010.

Without opening the door to private statements or negative comments, does anyone know what bodes for them?

Just to be nosey.....do you have any idea how much Jackson-Hewitt charges for a basic EZ Federal and EZ State return.

I just received a call from a (possibly former) client that the office located at our local Walmart is only $38 - can that be correct?

They are new to our locale this year and at that price HRB and Liberty may loose some clients too.

[MLINDER42]

Jackson Hewitt

It is a come on price if you have more than 1 W-2 it is extra any additional form or EITC is extra that price is for a single W-2 no dependents no deductions.