HARDWORKING AMERICANS FEEL THE HOLIDAY PINCH AS MANY PRIORITIZE SPENDING

APAC - English

News provided by

Dec 12, 2023, 09:02 ET

Taxpayers can get up to $1,000 before the holidays with Jackson Hewitt's Early Refund Advance Loan

JERSEY CITY, N.J., Dec. 12, 2023 /PRNewswire/ -- The holiday season is in full force, and hardworking Americans are eager to make this year exceptional, even when faced with the higher costs of gifting and extra expenses incurred to celebrate with family and friends. According to a recent Jackson Hewitt Tax Services® survey, only 53 percent of respondents will be able to buy everything on their holiday wish list this year and nearly half (47 percent) will be making tough decisions to scale back seasonal spending. When asked if Santa could grant survey respondents one wish, 52 percent would take $1,000 added to their stockings today.

The Early Refund Advance loan is available nationwide at participating Jackson Hewitt locations now through January 14, 2024.

Beginning now through January 14, 2024, people can seek out that wish for Santa by applying for an Early Refund Advance loan at any participating Jackson Hewitt office, as well as company-branded kiosk locations within Walmart, to get up to $1,000 in time for the holidays. Once approved, clients can opt for the advance to be placed on a prepaid card for immediate use or select the funds to be directly deposited into a bank account within one to five business days. New this season, Jackson Hewitt is offering clients a Money Today Guarantee for the Early Refund Advance proceeds. For approved clients opting to receive the loan money on a prepaid card, the guarantee assures the money will be available that same day or otherwise Jackson Hewitt will pay the client $50.

"We understand this time of year can be financially stressful and at Jackson Hewitt we want to help people receive money quickly and conveniently to enjoy the holidays while managing year-end expenses," said Greg Macfarlane, CEO and President, Jackson Hewitt Tax Services. "The Early Refund Advance is providing our clients the opportunity to receive an advance on their expected federal tax refund up to $1,000 when it's needed most. With thousands of offices opening nationwide, including kiosks in Walmart stores, people can apply by easily making an appointment to meet with one of our Tax Pros and, if qualified, will receive money in minutes."

In fact, the Jackson Hewitt survey confirmed that if people had "extra" money before the holidays, 61 percent would use the money to either buy holiday gifts or spend it towards major bills, like rent, medical bills, debt, utilities, and car payments.

Additional Jackson Hewitt Holiday Survey findings:

Thirty (30) percent of people plan to finance holiday plans this year using credit cards.
Forty-four (44) percent of people plan to use the final paycheck of 2023 to pay bills and nearly half of people (45 percent) will use the money either immediately or within one week.
Fifty-nine (59) percent of survey respondents have the financial New Year's resolution to either pay down debt or establish/increase an emergency fund next year.
Fifty-two (52) percent of people think gifts are the most important thing to spend their holiday budget on this year.

Apply Now for an Early Refund Advance Loan
The Early Refund Advance loan is available nationwide at participating Jackson Hewitt locations now through January 14, 2024. To apply, clients simply need to provide a recent pay stub and personal identification when meeting with a Jackson Hewitt tax professional to determine eligibility. Early Refund Advance is available to individuals who apply for a No Fee Refund Advance, which requires filing your taxes with Jackson Hewitt beginning 1/2/24.

For more information about the Early Refund Advance loan available at Jackson Hewitt, visit jacksonhewitt.com/refund-advance. To find the nearest Jackson Hewitt office and book an appointment, visit jacksonhewitt.com/officelocator.

About Jackson Hewitt Tax Service Inc.
Jackson Hewitt Tax Service Inc. is an innovator in the tax industry with a mission to provide its hardworking 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 Guarantee and Lifetime Accuracy Guarantee® (restrictions apply, see Jackson Hewitt's website for more details). Jackson Hewitt has more than 5,200 franchise and company-owned locations nationwide, including 2,700 in Walmart stores, making it easy and convenient for clients to file their taxes. For more information about products, services, or offers, or to locate a Jackson Hewitt office, visit jacksonhewitt.com or call (800) 234-1040.

Terms and Conditions
The Early Refund Advance ("ERA") is a loan secured by and paid back with your tax refund and is offered by Republic Bank & Trust Company, Member FDIC, to eligible taxpayers that apply for a No Fee Refund Advance from 12/11/23-1/14/24. ERA loan amounts are determined by your expected Federal refund less authorized fees and underwriting. If approved for an ERA, a Finance Charge will apply. Loan amounts available are $100, $300, $500, and $1,000. To be eligible for the $1,000 ERA, your expected Federal refund less authorized fees must be at least $2,600, and most approved applicants get $500. ERA is subject to underwriting and approval. Loan proceeds are typically available within same day of approval if disbursed on a prepaid card offered at Jackson Hewitt offices or in 1-5 business days with direct deposit. Terms and restrictions apply. Ask a tax pro for more info about the cost and timing of all filing and product options. Jackson Hewitt is a Rhode Island Licensed Loan Broker and holds other relevant licenses for the locations where this product is offered. Finance Charges are not applicable in all locations.

The Money Today Guarantee is only available to clients who (i) are approved for an Early Refund Advance loan; (ii) elect and are eligible to receive loan funds on a prepaid card offered at Jackson Hewitt offices. Loan application must be submitted by 11 pm local time. If funds are not credited to your card before 12 am local time, Jackson Hewitt will credit $50 within 2 weeks to your card if available or provide you a $50 eGift card. Fees, terms and conditions apply to the prepaid card. More details at JacksonHewitt.com.

About Republic Bank & Trust Company
Republic Bancorp, Inc. (the "Company") is the parent company of Republic Bank & Trust Company (the "Bank"). The Bank currently has 47 banking centers in communities within five metropolitan statistical areas ("MSAs") across five states: 22 banking centers located within the Louisville MSA in Louisville, Prospect, Shelbyville, and Shepherdsville in Kentucky, and Floyds Knobs, Jeffersonville, and New Albany in Indiana; six banking centers within the Lexington MSA in Georgetown and Lexington in Kentucky; eight banking centers within the Cincinnati MSA in Cincinnati and West Chester Township in Ohio, and Bellevue, Covington, Crestview Hills, and Florence in Kentucky; seven centers within the Tampa MSA in Largo, New Port Richey, St. Petersburg, Seminole, St. Petersburg and Tampa in Florida; and four banking centers within the Nashville MSA in Franklin, Murfreesboro, Nashville and Spring Hill, Tennessee. In addition, Republic Bank Finance has one loan production office in St. Louis, Missouri. The Bank offers internet banking at www.republicbank.com. As of September 30, 2023, the Company had approximately $6.4 billion in assets and is headquartered in Louisville, Kentucky. The Company's Class A Common Stock is listed under the symbol "RBCAA" on the NASDAQ Global Select Market.

Jackson Hewitt Holiday Survey Methodology
The opt-in survey was commissioned by Jackson Hewitt from November 16, 2023, through November 20, 2023, among 1,061 American adults aged 18 and older, and conducted online by Dynata. Respondents of the survey were selected from those who volunteered to participate in online surveys. One thousand complete surveys were collected using the sample framework based on U.S. Census data for age, ethnicity, gender, region, and income.

SOURCE Jackson Hewitt Tax Service Inc.