Jackson Hewitt has not given unto Caesar . . .

Is it safe to say that Jackson Hewitt might not be a good choice for preparing your taxes this year? Seems as though about 125 of the franchises have been cutting corners a bit too much.

Full details are here.

Cheating on your taxes is never smart. Cheating on your taxes when taxes is your business is really, really, really stupid.

5 responses to “Jackson Hewitt has not given unto Caesar . . .

  1. Good for the DOJ. There’s far too much of this stuff happening – even with large national chains. Employees are encouraged to lie, cheat, etc.

    When I worked at Circuit City, my boss told me deliberately to mislead customers in order to sell more very bogus extended warranties.

    The DOJ is also investigating the National Association of REALTORS®. They’ve become one of the most powerful lobbies in the country, and they’re actively discouraging any competition at all. They’re even trying to strengthen the Caveat Emptor clauses – basically to make it legal for them to steal.

    What’s going on in this country?

  2. Ah yes, the oversold warranty. Such a scam. I can remember times buying something at Circuit City and then being offered a warranty that was almost as much as the product itself. When I told the salesman that, if I have problems, I’ll just buy another one since they’re about the same price, they got a little disgusted but couldn’t refute the logic. Obvious they had some perks in the comp plan for selling those warranties.

    What’s going on with this country has probably more to do with human nature mixed with enough bureacracy to make it all ludicrous.

  3. Actually – no – no perks at all.

    The only “PERK” was that you didn’t get fired.

  4. Peace people

    We love you

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    Jan 03Jackson Hewitt Gets Jacked
    Debt, News, Taxes Add comments(Saw that headline today on Forbes and couldn’t resist!)

    As you know, I am adamantly opposed to any Company who markets products (especially financial products) that harm or take advantage of consumers who don’t know any better. For example, Pay Day Loan brothels (yes, I said brothels) take advantage of people in need of short-term loans by charging interest rates as high as 1,600% (no, that’s not a typo).

    Another product that has become increasingly popular is the Tax Refund Anticipation Loan. This loan, offered by companies such as H&R Block and Jackson Hewitt, allows you to walk out with cash in the amount of your anticipated tax return – for a fee. In fact, you don’t even have to complete your return! You can walk in, hand over your last pay stub, and walk out with a loan in the amount of your estimated tax return.

    Well, the IRS has finally stepped in to put a stop to this ridiculous business practice. Citing tax fraud as its reason, the IRS has proposed restrictions on tax data used in refund anticipation loans. Basically, the IRS is stating that the tax information you hand over as part of your loan application is not allowed to be used for the purposes of getting a loan. And apparently from the reports coming out today, it seems that many people (and companies) didn’t exactly tell the whole truth on their applications, leaving banks with a huge difference between the amount loaned, and the amount of refund received from the IRS.

    I for one am glad this revenue stream has dried up for tax preparers who have used this as a way to create more business. Your tax preparer should not be advertising loans using money you have not yet received. Your bank and tax preparer should be independent so that you can get fair and unbiased information from both. If the tax preparers are too focused on getting you a large refund only so that you can get a bigger loan – and they can get a bigger fee – then fraud is bound to occur.

    5 Responses to “Jackson Hewitt Gets Jacked”
    Cash Loan » Blog Archive » Jackson Hewitt Gets Jacked Says:

    January 3rd, 2008 at 8:55 pm
    […] Original post by BeancounterBlog.com […]

    rt Says:

    January 4th, 2008 at 7:46 am
    There are many ways to defraud the IRS without refund loans. The refund loans made by these companies fully disclose the costs involved. The percentages charged for the loans appear outrageous because of the short term nature of the loan. The dollar amounts are not that much given the risk the bank is taking. The people that do these loans are willing to pay the cost to receive their refund now! I don’t think government intervention will help people see the light. They’ve see the light and still want their money now. It is their right and choice. Who’s to say that their choice is not the best for them?

    mfm Says:

    January 4th, 2008 at 1:54 pm
    No checkstub loans being offered this year.

    Jason Guthrie Says:

    January 4th, 2008 at 1:55 pm
    I suppose I believe that taking out these high-interest short-term loans is just one more step to financial ruin. Sure, it’s their right and their own decision… but I believe that when too many people follow down that path, it hurts us all. Economic prosperity is helped along when everyone is doing well – not just those who haven’t fallen into a trap like this.

    jacked again Says:

    January 24th, 2008 at 3:03 pm
    Here is a look into the smaller fishbowl! As many of their clients already know, Jackson Hewitt has been aiding and abeting fraudulent tax returns providing ways to make their clients thousands of dollars spewing from the US Department of Treasury. I believe this has indeed pushed out large sums of money to people who cheat and do not work as hard where the honest tax payers suffer in this rediculous scheme receiving very little or nothing. My point, Jackson Hewitt and the banks involved have increasingly taken advantage of their customers, however, some of their clients are not innocent as well. Many of them LIE to get that bigger refund and JH promotes it!!!

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