JERSEY CITY, N.J., December 27, 2018
Tax refunds continue to play an important role for many consumers when it comes to paying holiday debt. In a recent survey conducted by Jackson Hewitt Tax Service®, 41% taxpayers polled revealed that they look forward to their tax refund to pay holiday bills. The same survey showed that the youngest taxpaying generation, Generation Z, is the most likely to use their tax refund to repay holiday debt with 63% reporting that they look forward to their tax refund to pay holiday bills.
The interest in repaying holiday debt with tax refunds seems to have increased since last year. In a similar survey conducted by Jackson Hewitt last year, only 31% of taxpayers polled revealed that they plan to use their tax refund to pay holiday bills.
Taxpayers who do not want to wait for their tax refund to arrive can apply for Refund Advances. With the Early Refund Advance, qualified Jackson Hewitt clients could get up to $400 before their W-2 is available with only a pay stub or other income verification. Early Refund Advance is a no fee, 0% APR loan. Qualified clients can also prequalify now for up to $3,500 with the No Fee Refund Advance which is a no fee, 0% APR loan, or between $1,000 and $7,000 with the Go Big Refund Advance which has a 35.9% fixed APR. All Refund Advance products are offered by MetaBank®.
“Making ends meet around the holidays can be especially tough which is why our doors opened on December 19,” said Alan D. Ferber, CEO of Jackson Hewitt. “We advise our clients to stop in early this tax season to ensure they have all necessary documents and talk about how tax reform might impact them. This will ensure they are prepared to file as soon as their tax documents are available.”
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is an innovator in the tax industry, with a mission to provide its hard-working clients access to simple, low-cost solutions to manage their taxes and tax refunds. Jackson Hewitt is devoted to helping clients get ahead with Maximum Refund and 100% Accuracy Guarantees. With close to 6,000 franchised and company-owned locations, including 3,000 in Walmart stores, and online and mobile tax solutions, Jackson Hewitt makes it convenient for clients to file their taxes. For more information about products, services, and offers, or to locate a Jackson Hewitt office, visit www.jacksonhewitt.com or call 1 (800) 234-1040.
About Refund Advance
Must file with Jackson Hewitt. Subject to eligibility, approval, and factors including tax refund size. Unavailable in certain states/locations.
The Early Refund Advance, No Fee Refund Advance and Go Big Refund Advance are optional tax refund related loans (not the actual tax refund) provided by MetaBank®. The Early Refund Advance and No Fee Refund Advance are 0% APR, no fee loans. The Go Big Refund Advance is a 35.9% APR loan. For example, for the Go Big Refund Advance, for every $1,000 borrowed over a 24 day term, total amount payable in a single payment is $1,023.61 including interest. For these loans: Available at participating locations for a limited time. The amount of the loan and any applicable interest will be deducted from tax refund and reduce the amount paid directly to the taxpayer. Fees for other optional products or product features may apply. Tax returns may be filed electronically without applying for this loan. Only $200–$400 available at no cost starting 12/17/18 with a paystub (or other acceptable income verification), and remaining amounts available upon filing tax return with Jackson Hewitt. Availability subject to identity verification, eligibility criteria, and underwriting standards. Disbursement rules apply. Funds loaded onto card within an hour and direct deposit next business day, unless impacted by IRS delays. Jackson Hewitt is a Rhode Island Licensed Loan Broker and holds other licenses (if required) for the locations where Go Big loan is offered. Go Big loan not available in all states. Visit www.jacksonhewitt.com/refund-advance for details. Most offices are independently owned and operated.
About Meta Financial Group, Inc.®
Meta Financial Group, Inc. ® (Nasdaq: CASH) is the holding company for the financial services company MetaBank® (“Meta”). Founded in 1954, Meta has grown to operate in several different financial sectors: payments, tax services, national commercial lending, community banking, national consumer lending and insurance premium financing. Meta works with high-value niche industries, strategic-growth companies and technology adopters to grow their businesses and build more profitable customer relationships. Meta tailors solutions for bank and non-bank businesses, and provides a focused collaborative approach. The organization is helping to shape the evolving financial services landscape by directly investing in innovation and acquiring complementary businesses that strategically expand its suite of services. Meta has a national presence and over 1,200 employees, with corporate headquarters in Sioux Falls, S.D. For more information, visit the Meta Financial Group website or LinkedIn.
The 2018 Jackson Hewitt survey was conducted online by ResearchNow from December 10-12, 2018, among 1,233 American adults aged 18 and older. Respondents to the survey were selected from those who volunteered to participate in online surveys. One thousand two hundred thirty-three complete surveys were collected using the sample framework based on U.S. Census data for age, ethnicity, gender, region, and income.
The 2017 Jackson Hewitt survey was conducted online by ResearchNow from December 11-13, 2017, among 1,245 American adults aged 18 and older. Respondents to the survey were selected from among those who volunteered to participate in online surveys. Twelve hundred complete surveys were collected using the sample framework based on U.S. Census data for age, ethnicity, gender, region, and income.
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