VIRGINIA BEACH, Va.--(BUSINESS WIRE)--Liberty Tax, Inc. (OTC PINK:TAXA) said today that taxpayers already have begun to receive their federal income tax refunds for the 2018 tax year. While the recent partial federal government shutdown had created concern that refunds might be delayed, some taxpayers who are eligible for early refunds have received their money.
“We are delighted that taxpayers already are getting these funds because we know how important this infusion of cash is and how much families depend on it,” Liberty Tax CEO Nicole Ossenfort said.
The IRS says most taxpayers can expect tax refunds to be issued in less than 21 calendar days after filing. Last tax season, the IRS had processed nearly 18 million tax returns and disbursed $12.56 billion in tax refunds by February 2. The average refund was about $2,000. The IRS has not yet released statistics for this year’s filing season.
The tax refund may be the best reason for taxpayers to file early – but early filing can also help reduce a taxpayer’s chance of becoming a victim of tax fraud or identity theft. And, with tax reform bringing the biggest change in more than 30 years, the tax professionals at Liberty Tax can help taxpayers understand how the new laws affect them and their refund. Taxpayers may also have to contend with another government shutdown if Congress and President Trump fail to reach agreement on a budget deal by February 15.
“There are many good reasons for taxpayers to visit a local Liberty Tax office and file their taxes sooner rather than later,” Ossenfort said. “Even if we face another government shutdown, Liberty Tax has products that can help taxpayers access money sooner.”
Liberty Tax offices across the U.S. provide accurate tax preparation with a guarantee to get taxpayers the biggest refund they are entitled to receive. The Company recently announced a program to help federal government employees affected by the furlough get quicker access to money. That program remains available until February 28.
About Liberty Tax, Inc.
Founded in 1997, Liberty Tax, Inc. (OTC PINK: TAXA) is the parent company of Liberty Tax Service. Last year in the U.S. and Canada, Liberty Tax prepared approximately two million individual income tax returns in more than 3,500 offices and online. Liberty Tax's online services are available through Liberty Tax Online, eSmart Tax, and DIY Tax and are all backed by the tax professionals at Liberty Tax locations and its nationwide network of seasonal tax preparers. Liberty Tax supports local communities through fundraising and contributes as a national sponsor to many charitable causes. For more information, visit the Liberty Tax website and follow Liberty Tax on Twitter and Facebook.
