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One the eve of tax season, Liberty Tax has secured a large increase on its revolving line of credit from a consortium of big banks.
Details on the Big Bank Financing
On December 28th, the SEC released an 8-K which reported that Liberty had secured a new revolving credit line and term loan agreement. SunTrust was the lead bank among a consortium of eight big banks who as a whole have extended a
The Department of Justice is going to bring a civil action against the owner of a Mo' Money Taxes franchise in Nashville, Tennessee and against his girlfriend who worked in his store as a tax return preparer.
The prosecution says that they initially took notice of the work of Toney Fields and Trumekia Shaw when they learned that 100 percent of the 1,218 and 1,131 returns filed from their office in 2010 and 2011 claimed a refund. In 2009,
In an October 29th filing in the Southern District of Ohio, the Department of Justice filed a preliminary injunction against various parts of the Instant Tax Service chain which could threaten the future of the company.
The injunction says that the US will ultimately seek to permanently prevent Fesum Ogbazion, ITS
The parent company of Liberty Tax recently announced its intention to offer to sell shares to the public. The obligatory prospectus filed with the SEC for the benefit of interested investors provides a chance to look under the hood of the nation's third largest preparer of tax returns.
Guess what is under the hood? It turns out that a new kind of refund loan may soon be available at Liberty Tax through a
Republic Bank & Trust (ticker:RBCAA) says that it has reached an agreement with the FDIC to terminate their refund anticipation loan ("RAL") program after the end of the next tax season.
Prior to this morning's 8-k, Republic and the FDIC were on course to settle their disagreement about