Jackson Hewitt Announces Refund Advance Options, Opens Offices for 2021 Tax Season

Rhea-AI Summary

Jackson Hewitt Tax Service has launched nearly 3,000 in-office locations and introduced two new financial products: Early Refund Advance and No Fee Refund Advance. The Early Refund Advance allows clients to access up to $700, a $200 increase from last year. The No Fee Refund Advance offers loans between $500 and $4,000, starting on January 2, 2021. Both advances are 0% APR loans from MetaBank, ensuring clients can receive funds quickly to alleviate financial stress during the holiday season.

Positive

• Expanded access: Nearly 3,000 new office locations open.
• Early Refund Advance increased to $700, enhancing financial support.
• No Fee Refund Advance option offers loans between $500 and $4,000.

Negative

• None.

JERSEY CITY, N.J., Dec. 16, 2020 /PRNewswire/ -- Jackson Hewitt Tax Service^® opened nearly 3,000 in-office locations today and announced the company's Early Refund Advance and No Fee Refund Advance offerings. To help ease the financial burden ahead of the holidays after the challenging year many taxpayers have faced, clients can apply for the Early Refund Advance to access up to $700, a $200 increase from last year's Early Refund Advance offering.

Beginning today, both new and existing Jackson Hewitt clients can book an appointment with their local Jackson Hewitt office to go in with a pay stub, or other income verification, to start their tax preparation and apply for the Early Refund Advance or No Fee Refund Advance.

"During these uncertain times, we are proud to support hardworking Americans by helping them put money in their pockets when they need it most," said Greg MacFarlane, Chief Executive Officer and President of Jackson Hewitt Tax Service.

The 0% APR Early Refund Advance Loan from MetaBank^®, N.A., provides clients a way to access up to $700 ahead of the holidays, and before their W-2s are available in January. Beginning December 14, 2020 until January 17, 2021, eligible Jackson Hewitt clients can apply for an Early Refund Advance at participating locations.

The No Fee Refund Advance, a 0% APR loan provided by MetaBank^®, N.A., will be available as early as January 2, 2021 at select Jackson Hewitt locations until February 21, 2021. Clients could get $500 to $4,000 with the No Fee Refund Advance.  

"Once clients apply for a Refund Advance after submitting valid forms of income verification, they will be notified within an hour of which loan or loans they are approved for," added MacFarlane.

All Refund Advance loan options will be automatically repaid from a client's tax refund. Additionally, loans may be disbursed via an American Express Serve Card or directly deposited into an account of the client's choice.

During the 2020-2021 tax season, Jackson Hewitt's offices are committed to keeping their clients, staff, and communities safe with safety protocols designed to meet local, state, and federal guidelines. Clients can choose to book a sit-down appointment with a Tax Pro, or to arrange to drop-off or mail in their documents. There are also stay-at-home options available such as Tax Pro From Home and Jackson Hewitt Online.

Jackson Hewitt's 3,000 offices located in Walmart stores will open on December 28, 2020.

To learn more about all Refund Advance products and to check if a client prequalifies for a loan, visit jacksonhewitt.com/refund-advance.

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 and stands behind its work with its Maximum Refund Guarantee² and Lifetime Accuracy Guarantee^®1. Clients can choose to file at one of Jackson Hewitt's nearly 6,000 franchised and company-owned locations, including 3,000 in Walmart stores and online, making it easy and 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.

¹Lifetime Accuracy Guarantee^®: If there is an error preparing your return, your local office will reimburse you for penalties and interest. You must notify us within 30 days of receiving initial notice from a taxing authority and provide necessary documents and/or assistance. Terms and conditions apply. Visit jacksonhewitt.com for details. Most offices are independently owned and operated.

² FEDERAL RETURNS ONLY. If you are entitled to a larger refund, we'll refund the tax preparation fees paid to us for that filed return (other product and service fees excluded) and give you an additional $100. Same tax facts must apply. You must file an amended return with another paid tax preparation company and/or online provider by April 15, 2021 and submit your claim no later than October 15, 2021 with proof that the IRS accepted the positions taken on the amended return. Terms and conditions apply. Visit jacksonhewitt.com for details. Most offices are independently owned and operated.

Terms & Conditions
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^®, N.A. The Early Refund Advance and No Fee Refund Advance are 0% APR, no fee loans. The Go Big Refund Advance loan has a much larger loan amount than the No Fee Refund Advance and has a fee of 2.5% of the loan amount. For example, for $1,500 borrowed with a fee of 2.5%, the total amount payable in a single payment is $1,537.50. APR is 30.42% assuming a loan duration of 30 days but effective APR will vary based on number of days outstanding. The amount of the loan and loan fee will be deducted from tax refunds reducing the amount paid to the taxpayer. Loan amounts are between $1,000 - $6,000, and is inclusive of Early Refund Advance loan amount. Max Go Big Refund Advance loan amount for new clients is $2,500.  Go Big Refund Advance Loans are available to qualified borrowers starting on January 2, 2021 through January 31, 2021. The amount of the loan and any applicable loan fee 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–$700 available starting December 17, 2020 with a paystub or other acceptable income verification. Availability and loan amount subject to ID verification, eligibility criteria, and underwriting standards. Disbursement rules apply. Loan available within 24 hours if disbursed on a prepaid card or in 1-5 business days with direct deposit, 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 Jackson Hewitt for details. Most offices are independently owned and operated.

About MetaBank^®, National Association
MetaBank^®, N.A., a national bank ("Meta"), is a subsidiary of Meta Financial Group, Inc.^® (Nasdaq: CASH), a South Dakota-based financial holding company. Meta is a leader in providing innovative financial solutions to consumers and businesses in under-served niche markets and believes in financial inclusion for all. Meta's commercial lending division works with high-value niche industries, rapid-growth companies and technology adopters to grow their businesses and build more profitable customer relationships nationwide. Meta is one of the largest issuers of prepaid cards in the U.S., having issued more than a billion cards in partnership with banks, program managers, payments providers and other businesses, and offers a total payments services solution that includes ACH origination, wire transfers, and more. For more information, visit the MetaBank website.

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SOURCE Jackson Hewitt Tax Service Inc.

FAQ

What is the Early Refund Advance offered by Jackson Hewitt in 2021?

The Early Refund Advance allows clients to access up to $700 before their W-2s are available.

When can clients apply for the No Fee Refund Advance?

Clients can apply for the No Fee Refund Advance starting January 2, 2021.

How many offices did Jackson Hewitt open for the 2021 tax season?

Jackson Hewitt opened nearly 3,000 in-office locations for the 2021 tax season.

What is the APR for the Early Refund Advance and No Fee Refund Advance?

Both the Early Refund Advance and No Fee Refund Advance are 0% APR loans.

What is the maximum amount for the Early Refund Advance in 2021?

The maximum amount for the Early Refund Advance in 2021 is $700.