H&R Block and Jackson Hewitt

When you choose the company that will take care of your tax refunds or a financial advisor for your business, you should be very careful with choice. There are many companies in this industry and not many of them deserve being chosen. People seeking for such a company should perform some small research and compare. If you had on option of two financial companies such as H&R Block and Jackson Hewitt, which one would you choose?

H&R Block. This company has been operating tax offices since 1955. According to various sources, H&R Block is considered to be one of the best tax preparation companies in the United States. It provides not only tax preparation, but banking, personal finance and consulting services as well. Among the most important customers of H&R Block are the leading industry groups of the country. The company even has public tax preparation courses for students. But we have to see the other side of the coin, too. The thing is that H&R Block cannot cope with its own taxes and had a sufficient decrease in earning because of failures in corporate tax accounting. In 2006, there was a suit filed against the company, stating that some divisions of H&R Block violated several federal laws. The company provided high cost refund anticipation loans to low-income customers, using predatory tactics. The same year the company was sued because of fraudulent marketing of the express individual retirement accounts. But in 2007 much of the lawsuit was dismissed.

Jackson Hewitt. This company has been preparing tax refund to its customers since 1960. It is the second largest tax preparer in the country just behind the H&R Block. Jackson Hewitt Tax Service provides different financial services such as refund anticipation loans, accelerated check refund, direct deposit, etc. Though, there are some controversies in this business as well. In 2007 there was an investigation of the Department of Justice and several lawsuits were filed against the company. Jackson Hewitt Tax Service was accused of tax fraud. The suit was settled the same year.

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