Date: 2006-04-10
Jackson Hewitt's® weekly "Tax Time Tip": Tips to help those facing approaching April 17th deadline
PARSIPPANY, N.J., April 10, 2006 - With less than one week to go before the filing deadline, Jackson Hewitt Tax Service (NYSE: JTX), the nation's second largest tax preparation service, concludes its weekly series, "Jackson Hewitt Tax Time Tips," with guidance for those who have not yet filed their 2005 tax return.
This Week's Tip: Don't get stressed! There is still plenty of time to pull everything together. Even though the 2005 tax filing deadline is less than one week away, those who have not yet filed still have time to make the most of available deductions and credits. "There are millions of taxpayers who still need to file, so you're in good company - whether your documents are not organized yet or you think you may owe money, there is still time to prepare and seek out a tax preparer to make this process smoother for you," notes Mark Steber, Vice President, Tax Resources for Jackson Hewitt Tax Service Inc. "One of the many things we see this time of year is that people may hurry the process because of the approaching deadline and miss some important deductions or changes in the tax law that affects them. For example, many professions allow for job-related tax deductions, such as teachers, salespeople, carpenters and truck drivers, who can claim several work-related expenses on their 2005 return. Jackson Hewitt's "Deductions@Work" component in our software identifies over 30 professions offering career-related deductions and credits to ensure you don't miss them."
The following are a few more tips for those who still need to file:
- Carefully check your tax return prior to filing. Common errors include listing the wrong Social Security number, forgetting to sign a return or not checking your math. These mistakes can cause delays in the issuance of a refund. And for those who owe federal taxes, when submitting payment by check, make sure the check is made payable to the "United States Treasury" - not the "IRS."
- Electronic filing (e-filing) can speed up the filing and refund process. Taxpayers who e-file receive an electronic acknowledgement, within 48 hours, that their return has been received by the IRS. This helps to alleviate the added stress caused when sending your return via regular mail and wondering if it was ever received.
- Don't forget that an extension of time to file a tax return is not an extension of time to pay. Taxpayers who do not file by the April 17th deadline must file IRS Form 4868 and pay at least 90% of their tax liability to avoid penalties and interest.
"Taxpayers should know that Jackson Hewitt has over 6,000 offices open nationwide to assist with last-minute tax return preparation or questions, and many of these locations are extending their hours to serve the needs of our customers," comments Steber. "Deciding to work with a tax preparer helps save critical time and reduces stress during these last few days."
About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. (NYSE: JTX) is the second largest tax preparation service company in the United States with over 6,000 franchised and company-owned offices in 49 states and the District of Columbia. Specializing in electronic filing (IRS e-file), the Company provides full service, individual federal and state income tax preparation and facilitates related financial products. Most Jackson Hewitt offices are independently owned and operated. Jackson Hewitt is based in Parsippany, New Jersey. More information about the Company may be obtained by visiting the Company's Web site at
http://www.jacksonhewitt.com. To locate the Jackson Hewitt office nearest to you, please call 1-800-234-1040.
Contact
Allison Jackson
Jackson Hewitt Tax Service Inc.
973-630-0681
Melissa Connerton
CooperKatz & Company
212-455-8001