Jackson Hewitt Responds to IRS Removal of Debt Indicator

Harry W. Buckley, president and chief executive officer of Jackson Hewitt Tax Service Inc. JTX, made the following statement in reaction to this afternoon's announcement by the Internal Revenue Service that the debt indicator will be eliminated for the 2011 tax season: "The IRS decision to not provide debt indicator data to taxpayers through the electronic tax filing process will make it difficult for the millions of taxpayers who desire to receive cash quickly in connection with the electronic filing of their annual tax return. This form of credit, especially important to middle and low income, often unbanked, taxpayers, may well continue to be available in our industry. However, from the taxpayers' perspective, it will likely become harder to receive credit approval, will cost more and the amount of credit available may be limited – all negative impacts on taxpayers during this difficult economic environment, and all a direct result of the unilateral action taken by the IRS today."