SOURCE: StockCall


November 29, 2010 09:01 ET

Opinions on H&R Block Inc. and Jackson Hewitt Tax Service Inc. -- Tax Filers Have Disastrous 2010

JOHANNESBURG, SOUTH AFRICA--(Marketwire - November 29, 2010) - offers investors comprehensive research on the personal services industry and has completed analytical research on H&R Block Inc. (NYSE: HRB) and Jackson Hewitt Tax Service Inc. (NYSE: JTX). Register with us today at to have free access to these researches. 

While taxes remain one of life's two certainties, the future of tax filing service providers is far from certain after a disastrous 2010. A myriad of economic factors and consumer trends has driven stock prices of some companies like H&R Block Inc. down by almost 50% since the beginning of 2010 and other companies like Jackson Hewitt Tax Service Inc. are drifting to the point of bankruptcy. Law changes regarding refund anticipation loans, a weak housing market and a rising do-it-yourself trend amongst consumers were the primary factors that contributed to the dismal year for tax filing companies. Investors looking for free research on H&R Block Inc. and Jackson Hewitt Tax Service Inc. are welcome to sign up at or is an online platform where investors doing their due-diligence on the personal services industry can have easy and free access to our analyst research and opinions on H&R Block Inc. and Jackson Hewitt Tax Service Inc.; all investors need to do is register for a complimentary membership at

Revenues from refund anticipation loans (RALs) are down significantly since the IRS announced that it would not inform providers if back taxes are due. This policy change has made approving an RAL too risky for some banks that have either raised interest rates to offset risk or simply refused to grant them. Revenues from subprime mortgages are also way down as the housing market continues to sputter. Register now at to have free access to our reports on the personal services industry.

The rise of do-it-yourself software programs and a more tech savvy consumer has also dented revenues for tax filing service providers. 

Overall, the outlook is bleak for tax filing service providers. To stave off bankruptcy, some are scaling down locations, dropping national ad campaigns in favor of local ones and switching to kiosks over walk-in stores. A strong tax season could revitalize the industry but growth and significant profits appear to be unreasonable expectations. Visit to see how companies in this industry have grown over the past years and how they are expected to perform in the future.

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