SOURCE: Liberty Tax, Inc.

August 03, 2016 13:00 ET

Liberty Tax CEO John T. Hewitt Ready to Referee Buffett-Trump Tax Challenge

'Granddaddy of Tax Preparation' Will Also Donate $2 Million to Charities of Choice

VIRGINIA BEACH, VA--(Marketwired - Aug 3, 2016) - Liberty Tax, Inc. (NASDAQ: TAX)

Liberty Tax CEO John T. Hewitt today offered to moderate the Tax Return Challenge between Warren Buffett and Donald Trump. As an added incentive, Hewitt said he would personally donate $1 million to each businessman's approved charity of choice, if they participate in the challenge. As one of the most experienced CEOs in the tax industry, Hewitt would serve as a trusted tax expert, reviewing and analyzing the tax returns of each of the billionaire businessmen.

"I am ready to help the American public understand what's in each businessman's tax return," said Hewitt. "I have been in the business long enough to understand the complexity of a tax return and the significance of what the numbers mean, and I can explain that in terms that anyone could understand. When I heard Buffett's challenge, I knew I was uniquely qualified to moderate."

Buffett, chairman and CEO of Berkshire Hathaway Inc., threw down the challenge to Republican presidential nominee Donald Trump during a recent rally for Democratic presidential nominee Hillary Clinton. Buffett said he would meet "any place, any time" with a copy of his tax returns and the two men could answer questions from the public. Trump has refused to release his tax returns, saying he is being audited. Buffett said he is being audited as well, and that the audit was not a reason not to release tax returns.

With more than 45 years in the tax industry, Hewitt has been called the "granddaddy of tax preparation." He is one of the most experienced CEOs in the business, and he has founded two of the nation's top three tax preparation firms. Liberty Tax Service, where he is CEO and founder, is one of the fastest growing tax preparation firms in the country. Hewitt has not endorsed either candidate for president, but he has commented on Clinton's economic plan and challenged her to understand how overregulation hurts small businesses.

Along with his offer to review and analyze the tax returns and present his report to the public, Hewitt, who has made charitable giving a central part of his business mission, has also offered to personally give $1 million each to the two men's agreed upon charities of choice.

About Liberty Tax, Inc.
Founded in 1997 by CEO John T. Hewitt, Liberty Tax, Inc. (NASDAQ: TAX) is the parent company of Liberty Tax Service. Liberty Tax is one of the fastest-growing tax preparation franchises and has prepared nearly 22 million individual income tax returns in more than 4,400 offices and online. Liberty Tax's online services are available through eSmart Tax, Liberty Online and DIY Tax, and are all backed by the tax professionals at Liberty Tax locations and its nationwide network of approximately 21,000 seasonal tax preparers. Liberty Tax also supports local communities with fundraising endeavors and contributes as a national sponsor for many charitable causes. For a more in-depth look, visit Liberty Tax Service and interact with Liberty Tax on Twitter and Facebook.

Contact Information

  • MEDIA CONTACT:
    Martha O'Gorman
    Chief Marketing Officer
    Liberty Tax Service
    (888) 848-5344
    martha@libtax.com