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H&R Block, Inc. Message Board

  • IdahoTJR IdahoTJR Sep 2, 2011 4:26 PM Flag

    Liberty to Go Public

    Announced today

    Initial Public Offering
    Virginia Beach, Virginia - September 2, 2011 -- JTH Holding, Inc. ("Liberty Tax"), the parent company of JTH Tax, Inc., which does business as Liberty Tax Service, announced today that it has filed a registration statement with the Securities and Exchange Commission for a proposed initial public offering of its Class A common stock. The number of shares to be offered and the price range for the offering have not yet been determined. A portion of the shares will be issued and sold by Liberty Tax, and a portion will be sold by certain stockholders of Liberty Tax.

    The bookrunning managers of the proposed offering will be Jefferies & Company, Inc. and SunTrust Robinson Humphrey, Inc. This offering will be made only by means of a prospectus. A copy of the preliminary prospectus, when available, may be obtained from the offices of Jefferies & Company, Inc., Equity Syndicate Middle Office, 520 Madison Avenue, 12th Floor, New York, NY 10022, Attention: Stephen M. Ficara, or by telephone to 212-284-3418; or SunTrust Robinson Humphrey, Inc., 3333 Peachtree Road NE, Atlanta, Georgia 30326, Attention: Prospectus Department, by telephone to 404-926-5744 or by email to

    A registration statement relating to these securities has been filed with the Securities and Exchange Commission but has not yet become effective. These securities may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective.

    This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

    About Liberty Tax Service
    Liberty Tax Service is one of the leading providers of tax preparation services in the United States and Canada. For the 2011 tax season, Liberty Tax's franchise business model included nearly 3,900 retail tax offices. Liberty Tax Service is headquartered in Virginia Beach, Virginia

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    • doontoother !!! I was referring to ramsdude saying the baby boomers sucked. I thought what i meant was obvious. Sorry for any misunderstanding.

    • I see no reason to denigrate a group of people with foul language. (Mr. Phil)

      Foul? Can I ask what words were foul?

    • downtoother and ramsdude !!
      "Doesn't it seem like the 70’s and early 80’s companies were willing to do so much more to satisfy clients and customers?"

      "Back then the majority of businesses, both large and small, were run by the "Greatest Generation." Now they're run by the baby boomers. I'm a baby boomer and I'll be the first to admit that my generation sucks".
      ____________________________ Today there is a global economy for better and most likely worse. The American citizen must compete not only with illegal labor from Mexico but with manufacturers using cheap labor through out the world.I admit we (boomers) had it easy but we just followed the rules and that's all that is required.I see no reason to denigrate a group of people with foul language.

    • "Doesn't it seem like the 70’s and early 80’s companies were willing to do so much more to satisfy clients and customers?"

      Back then the majority of businesses, both large and small, were run by the "Greatest Generation." Now they're run by the baby boomers. I'm a baby boomer and I'll be the first to admit that my generation sucks.

    • Doesn't it seem like the 70’s and early 80’s companies were willing to do so much more to satisfy clients and customers? There were dishes or dish towels in boxes of detergent, attendants at gas stations that pumped the gas, checked the oil and washed the windshield, and gave out drinking glasses or desert dishes too. Most stores gave green stamps we collected, put in little booklets and traded for a new kitchen appliance, blankets, or gadgets when we had enough.
      Stores had extra help that would walk up to you and asked if they could help you. Today you have to search the store to find a worker and most times are told “I don’t work in that dept.”
      Block would do just about anything to save a client. If they said price was too high, we were to ask “what would it take to satisfy you?” If they said they would not return, they were sent a gift certificate for a free return that usually brought them back.
      All stores and businesses catered to their customers and clients, and were rewarded with growth. Many times I’ve walked into a business and been ignored for so long I left thinking they had too many customers and didn’t care about getting new ones.
      Same with those long dreary phone answering services today, telling us to push button after button, listening to crappy music or long winded “we care about you, please hold” messages that go on and on annoying the heck out of us.
      Look at those big box stores where you can buy in bulk that don’t even offer bags for purchases. Look at rebates instead of discounts, where companies count on you not filling out the correct paperwork or 8 weeks later forgetting all about it.
      I refuse to buy anything in a catalog or on the Internet unless it’s free shipping. They want to sell it to me; they need to get it to me at their expense not mine.
      Did the population get so great, customers so many, that companies no longer need to cater?

    • floridatax !!! In 1978 i had Block do my return. The taxpro was in a hurry and did not do the moving expenses. He said to file a amendment later. When later came around i could not find anyone to do the amendment,so i picked up the forms and instructions and did it myself and have from then on.

    • The year I got out of the army (1976) I went to Block. They charged me $40. When I saw what they had done, I knew I could do what they did and I never paid anyone again. That's how I became a tax geek, so I owe them a debt of gratitude :-)

      Not sure how the contingency fee language in Circular 230 would apply to discounting prices. A contingincy fee is dependent on some outcome, which is not allowed. Lawyers can take a case contingent on winning, but Circ 230 doesn't allow that.

    • "cf you made me remember the old price list that sat on our desk" (doontoothers)

      The discussion did bring back memories, didn't it. For example, for years the rule in our office was that the client had to get at least as much out of a non-required form as Block.
      For instance if Sch G's normal charge was $30, but it only saved the client $24, we would charge $12. (The theory was that most of the work had already been done, so the company would get at least a little something for our efforts, while also giving the client a break.)
      Today, I'm not sure we could do that without violating Circ 230 rules on contingent fees.

      BTW, in a previous post, that $22 figure I mentioned for a complete return was actually from the late 70s, not the 80s.

    • cf you made me remember the old price list that sat on our desk. There was a class showing us how to use it. Each form had its own price, with a few “if, ands and buts”.

      If Sch B and D had more than 3 entries, we had to add up how many entries and charge accordingly.
      We started on the information worksheet and could have up to 3 entries at zero price if they were below $400 and didn’t need the form. Eventually those 3 items had a line charge.

      Quality control would spot check pricing to make sure we got it right and while Block never pointed fingers for getting it wrong, someone would talk to us about it. Sometimes Block send clients refunds when the charge was too high. 2 clients with the same forms sitting side by side could have different prices.

      If Sch A only saved the client 10 bucks the fee would be lowered to ½ and be $5.
      I believe today with the same situation they’ll get charged the entire $75, and most experienced preparers explained to clients it wasn’t worth doing, while newbie’s weren’t aware clients were paying $75 for an additional $10 refund.

      There was a comparison to last year’s fee, making sure the price wasn’t higher than a 10% increase, not counting new forms. There was a much lower fee for a dependent’s 1040EZ after doing the parents return.

      It would take us a couple months to memorize that price list and the interview with clients made it easier to give estimates off the top of our head and be within a few bucks of actual charges. We were “allowed” one trip to the back of the room to gather what forms we needed after the interview (which didn’t always happen) but it was considered rude and unprofessional to have to get up more than once.

      Heaven help the preparer that took the last form out of the slot and not let anyone know!

    • "Prices started to creep up in the 90’s," (doontoothers)

      Prices were going up in the 80's, too. It's just that a 5% increase from a $22 base charge(1040, State, Sch A) in the prior year resulted in fee increases that were barely noticeable (except to the clients).

      I suspect that one problem the clients have with tax prep fees is the unrelenting nature of the fee increases. They know that, with few exceptions, their tax prep fees will increase year after year.

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