LIBERTY TAX SERVICE Franchise Complaints
UnhappyFranchisee.com asked: Are LIBERTY TAX SERVICE Franchise Owners Happy? If you’re familiar
with the Liberty Tax franchise, please share a comment below.
Entrepreneur magazine has ranked the Liberty Tax Service franchise #3 behind McDonald’s & Subway. However, some commenters who claimed to be former Liberty Tax franchisees left stern warnings on the Franchise-chat forum.
This post was originally published
BostonTax wrote:
I’m a former Liberty Tax Franchisee
I hope you are ready for a little enlightenment! I held a successful Liberty Tax Franchise for 5 years until I decided to let the franchise agreement lapse. I did this for a few reasons:
1. The royalty fees were outrageous! 14% went to normal royalty while and ADDITIONAL 5% went for so called advertising royalties. The ad royalties were supposed to be put back into your local market to build the brand name. This was never done! All advertising in addition to the ad royalty I had to pay for because it did not fit into Liberty’s concept of advertising. I don’t know exactly what the concept was because our AD could not give an answer and the approved methods changed by the week.
2. Corporate was totally unresponsive to the needs of the franchisees. The AD system is designed to recruit anyone who can write a check for 100K. No other skills or ability required.
3. The minute you are behind in a royalty payment, they send you a notice to cure. After that, if you don’tpay, they try to terminate your franchise agreement.
4. Upon termination, Liberty enforces through legal proceeding a 2 year, 25 mile radis non compete clause that is in the franchise agreement. This is enforceable in the Eastern Division of the Federal District court, where, at least 2 Liberty friendly judges preside.
5. Liberty does not recognize chargebacks for bad debts as an adjustment for your royalty fees. All royalties are based on your gross, not your net collectable. This was an ongoing issue with them and the accounting department did not have the ability or the inclination to resolve!
My best advice is do not go with these guys, they are bad news. If you like to have people collect royalties and provide no support, then this is the franchise for you! It is very expensive to get into, the initial fee is around $32K just to buy the territory plus those pesky royalties. You can’t make money on this concept.Most of the surviving franchisees I’ve talked to in the last 2 years have experienced great difficulty not only in making a profit, but in the corporate support or lack thereof.Remember, 19% of your gross is getting kicked back to Liberty, which is excessive by any standards. Please do yourself a favor and call former franchisees ,those that are currently getting sued (they are very likely to talk, as I found out), and current ones to try to get the straight poop.
Barbara Green wrote:
I too was a Liberty Tax Franchisee and I agree with everything you said.
The only reason for purchasing any franchise is because the business model is a proven marketing success as evidenced by the profitable franchisees. That is why you pay a license fee of $25,000. Being profitable is not in the cards for a Liberty Tax franchisee. Liberty Tax’s market/ business model is aimed at individuals who have very simple tax returns, i.e one W-2 and standard deduction which is why they were very successful in Norfolk, Va. That market is full of military people with one w-2.
Liberty will sell anyone a franchise at any location, in any georgraphic area, even if there is not a chance in hell of the franchisee being successful.
At one time, I too owned a Liberty Tax Franchise for one tax season. It was only one season because of the behavior of the Regional Manager who called me on January 15th demanding and screaming “Why had I not generated 200 tax returns and that maybe this business was not for me. I was stunned and confused since employers are given until January 31st. to give w-2’s to employees. Apparently, he thought that I was in Norfolk, Va. where that is possible.
It only goes downhill from there. The bottom line is I lost all of my investment in this businees (approx. $80,000) because I closed it rather than becoming a victim of this unethical company. NOthing would make me happier than to be a part of a class action lawsuit.
WHAT DO YOU THINK? DO YOU OR HAVE YOU OWNED A LIBERTY TAX SERVICE FRANCHISE? ARE LIBERTY TAX SERVICE FRANCHISEES HAPPY? WHY OR WHY NOT?
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^^^^AWESOME NEWS!!!!!
Keep up the good work notifying this website and the general public of the REAL truth!!!!!
If you are thinking of buying a Liberty Tax Franchise, look at these 2500+ posts and then save your money and your headaches!!!!!
How bout the new training of franchisee’s is how to obtain your own funding and not rely on JTH for your loans. They (being JTH) make you have to obtain funding from year to year and they are now requesting as of last year to secure your own funding. Also, you cannot make it as a LTS franchisee without having constant funding to cover expenses over the summer months. What type of business is that? It is not a business.
Sorry but there are no real signs of money problems. I would say to the new bee, you might want to expect to lose money for at least 2 to 3 years. It makes sense to beware of any business that leads you to expect profit out the gate. Plan on a couple of years at least. Unless you get a good price on an existing business.
^^^But they make you stay open in the summer months at least a full day a week. The rules that they had of “notices to cure” were RIDICULOUS! It is DEFINITELY not your own business by any stretch of the imagination. You work to pay the pockets of the AD, who sits on his arse and collects fees from all the franchisee worker bees and also to help fund the rendevous’ with the ladies of John T Hewitt himself.
This franchise sucks to the endth degree. Oh we made money from customers that WE got and kept. Liberty took marketing fees but offered NOTHING in return except how to do guerilla marketing. Their software was bugged and I can easily prove that. Their corporate help desk sucked.
Again, I was successful because of ME and my hard work. It had NOTHING to do with the Liberty name. I know that because I was an early zee and they had no name recognition at that time.
The company is a front for scamming people out of their money so they have a skeleton crew at the corporate office so it “looks like a real company”. That’s why their help desk sucks. because they are busy figuring out how to scam more people out of money than they are to help the franchisees who have already bought into their “system”.
Excellent news coming out of the SEC. May this be the beginning of the downward spiral of the company and it’s “holier than thou” leader. His money is only going to help him so far before it dries up. Can’t wait!!!
Anyone looking into a Liberty Tax franchise, learn from my experience: Don’t do it!!!
This is an organization of greedy and deceitful people with fraudulent methods of extracting people’s money. If you have read anything at all on this web site, you would realize that there a heck of a lot disgruntled franchisees. We all have good reasons to be disgruntled, but we also want to warn others of the dishonest practices of this particular franchise.
If you are willing to be sold a bill of goods from this nest of vipers, more power to you, you have been warned! How they have gotten away for so long with these crooked practices mystifies me. They go out of their way to squeeze you. When you leave, they sue you. When you try to make money, they take it away. I don’t think anyone could make it any clearer than that. Learn from our mistakes and don’t associate yourself with Screwitt and Liability Tax.
Temijinaskia: Your answer can be found in reading Guest2’s most recent post. As a supporter of Liberty he/she is telling you to expect losses in the first 2 to 3 years and not to beware of any business that tells you to expect profit out of the gate. The question becomes what does purchasing a franchise do that I can’t do myself.
Branding – I don’t believe Liberty has a named brand. But if you don’t believe me just ask 10 random individuals to name a retail tax business and I bet 9 out of 10 say H&R Block.
Business Model – This business model is the same one that John Hewitt had with Jackson Hewitt which was built on the Refund Anticipation Loan. Unfortunately this product is no longer allowed making the business model obsolete.
Advertising – Liberty does not believe in advertising at the corporate level. Here is a business that has only a 3 month opportunity for business and somehow doesn’t believe in spending money on national advertising. It does however believe that you should pay them a franchisee fee and then commit to spending 6,000 and up on an advertising budget.
The commitment is 100% on the franchisee. It reminds me of when your looking at a plate of bacon and eggs. The chicken is invested the pig is committed. Stay away from this company.
You have been warned!!!
Invested or committed both of them was probably fried.
This is for qctibs
It took about a minute to dig up figures sourced by multiple investor sites
Liberty total clients served = 2.2 million
Block total clients served 22 million
If you were bored you can check those numbers
Now, not sure if you are a math person but ill do it for you just in case
2.2/22=.1
That means 10%
Now for a next step
Lets take 5000 offices and divide that by 2.2 mil
That makes 440 per office
Now 440 x $200 average charge=$88,000
Now buy computers, rent, utilities, payroll, payroll taxes, paper, toner, insuranc, pay John
Not a whole lot left over and that is if all things are equal and not slanted to the first few offices in an area
And the growth is slowing down
Liberty gained 15,000 clients on 500 new offices
That’s about 35 returns for each of those offices
Greg:
I LOVE it every time you offer up a mathematical equation! Keep posting!!! :)
The real question that needs to be asked is why is H&R Block bailing out of Wal-Mart? H&R Block will be contacting these customers and offering them a special price/discount to visit the local neighborhood Block office. It was amazing to see that once H&R Block announced they were leaving Wal-Mart, their stock shot up.
What is not being shared clearly about Liberty’s growth this year, that it was not in the brick and mortar stores but Liberty’s online software. Actually with 500 new offices and the 3500 existing offices gaining 15,000 new clients is only a growth rate of 3.75 clients per office. Very difficult to survive on and I wonder how many of Liberty offices will not even reopen this year?
Naturally the “Tax Grandfather” is going to blame this on the IRS. Liberty’s business model is outdated and they are making no efforts to change.
Stay away from purchasing a Liberty Tax Franchise, this is a sinking ship.
San Fran,
The closest I ever came to working with liberty was listening to the sales pitch. My parents taught me how to spot a scam. It was all raw raw raw and not a single negative or challenge to the business was mentioned. They said your going to make so much money blahhh blahhh blahhhh.
I was taught that if it sounds to good to be true it probably is.
One of the towns that I have a tax office in had a liberty two separate times. They failed both times in two tax seasons. They were in the local Walmart.
It was the best thing for my business. The “no tax experience required” generated lots of ammended returns for me ant the clients of mine that tried liberty during those times are now clients of mine for life. The word got out. Go anywhere but liberty.
I don’t like liberty. I don’t like John. I don’t want to see anyone lose their money to them.
If you want to have a national tax office buy a block office that has 1500-2000 clients already there.
Or go independent and build your business without royalties. Most of the big software providers offer training and support in excess of what is offered by liberty.
@Greg – You are right – My question is, why is the older stores in a territory area constantly have the lion share of clients and subsequent stores each one is half of the first one?
Can anyone explain that? Other than a pyramid scheme.
NCHillbilly and Greg:
You guys don’t post often enough!! You have lots of perspective on this franchise and it would be great to hear from you both more often!!
Greg: I wish I wasn’t scammed so many years ago. I lost thousands upon thousands. We thought because Hewitt came from H & R Block and started Jackson-Hewitt, then Liberty would be a smart move. Yikes, were we wrong.
In life hindsight is 20/20 and I’m posting on this website to warn others of thinking that this franchise is the way to go. It certainly is not!!
The fact that their ship is sinking is wonderful news and music to my ears. Hewitt will face jail time and we all will get the last laugh.
I am thrilled that you, Greg, never were an LTS franchisee. Good for you! :) The biggest mistake of our lives. Now that we have moved on, we can appreciate what an incredible scam that company is. I see ads for them all the time that says “No tax experience required” and am dumbfounded that anyone would fall for that crap.
I think a part of it is that taxes are a habit
A good tax service should have 75-85% retention
The other 25-15% can’t mostly be accounted for due to clients moving, dying, marriage etc.
Very little loss due to poor service.
Even if people really don’t like the service it’s only once a year for an hour. They just kind of grin and bear it.
Part of liberty’s challenge is that the specific retention rate for lower income eitc clients tend to be a bit lower.
The sped of refund clients are a little less loyal and will go where they perceive the fastest biggest refund is.
All of the tax services gained on that front when block was the only one who couldn’t do RALs
The habit of taxes is a big thing. It’s hard to get people to change
It’s similar to auto insurance
That’s why you can’t watch tv or listen to the radio for 5 minutes without hearing 10 geico commercials
You have to beat the crap out of the client to get them to switch for a once a year service.
And, of course, Liberty does not advertise. They are great at taking marketing royalties but not using them for any national advertising. You, as the franchisee, have to bear the brunt of all local advertising. When I contributed my 5% in the first year for advertising royalties, I saw zero back into my territory and region. 2nd year same thing. 3rd year some tee shirts (about 500). 4th year 1 Liberty costume. 5th year, 2 Liberty costumes. For all that I spent about $22K in total advertising royalties. Not a good return on investment. This is what Liberty is good at-: taking your money and running.
Greg,
please also share how many additional returns per office HRB did last year. Better yet, show the comparison between the 2 over the last 5 years, since this last year was such an aberration in the industry. It’s fun playing with stats, no? A good salesperson can make them say anything they want.
Also, the revenue misstatement is not a Liberty mistake, and as of yet we don’t know the outcome, but the issue is that LIberty MAY have been showing less revenue than the SEC now says they should (timing differences), even though the SEC recently signed off on the S-1 related to their IPO, and Liberty got sign offs by their public accounting firm. This is a hassle and can certainly be pointed to by detractors, but not a critical business issue. Certainly not as bad as HRB”s large misstatement of tax liability some years back. The difference is if Liberty has to restate I’m pretty sure it will mean recognizing moire revenue, not a higher tax expense.
Again, this is a great board for the people who shouldn’t own their own business but were able to get into the Liberty franchise system, and similar to many other well-known and solid franchise companies who also have some franchisees who don’t do well. It’s a tribute to the several people here, out of thousands of franchisees that have been and are franchisees with Liberty, that you can keep the conversation going with a small number of grievances related to your business failures. And with that, I will go back to lurking mode for a while, and again hope for the posters here to find a sold W-2 job where they can find success.
@qctips
The SEC is investing JTH Holdings for over reporting income from Area Developer and Franchisee sales. This is a serious accounting mistake, when you sell property and you carry the loan for a period time the income is amortized over the life span of the loan not at the time of the sale. Not only is the SEC investing the over reporting, they are also investigating the under reporting of payments to area developers. Both of these issues over reporting income and under reporting expenses can have a major impact on JTH Holdings revolving financial credit, and this was the reason the Standstill Agreement that was filed with JTH Holdings creditors.
Bye qctibs! Have fun lurking.
Your last paragraph is comical. “people who shouldn’t own their own business but were able to get into the Liberty franchise system”.
They will take money from ANYONE! Every one with money is able to get into the Liberty franchise system! As long as you are breathing and have lots of money to burn, you will be “accepted”!!! As they themselves point out in their ads…..”No tax experience necessary”!!! Just money to hand over!!! Never to be seen again.
One thing that you will never understand because you have made a point to say it over & over & over again: Many of us were NOT unsuccessful. We just realized too late, after we signed on the proverbial dotted line, that we could do this business ON OUR OWN without paying one red cent to these rip-off artists.
I personally am in my own business once again. NOT A FRANCHISE ever again. The best thing I ever did was to leave them after my 5 years were over. And I know their downfall will come, sooner rather than later, and I will throw the biggest party and invite you, qctibs!!! :)
NCHillbilly:
Awesome news!! Wonder if the IRS or DOJ had anything to do with this investigation???
Qc,
Nope not at all
Block lost some market share
That’s just the fact of the matter
Yup Liberty picked up some of those no doubt
How much expense did it take to get hose? How many new offices for just the ones Liberty got?
You are absolutely right
But over all of that time,still to this day for every 10 clients Block does Liberty does 1
I’m just stating facts Qc
You have made judgements on my character and business abilities. No problem. Name calling is cool for some people. I prefer to deal in fact. I’m a numbers guy.
The fact of the matter is liberty is about 10% the size and has been for a while.
The fact is liberty as a whole entity increased their expenses by 500 offices. That’s a lot, and if any of them were new franchisees I can say with near certainty that they lost their behind on the deal unless they took returns from an existing store in which case that store lost a lot.
15k returns isn’t a lot if every single one of those only went to the new offices and were divided evenly.
How did your store or stores do this year?
QC,
Besides that when I said liberty was only 1/10 the size of block you seemed to question that.
When showed you the numbers it turned into “we’ll, stats can say anything”
It’s not stats its math
Liberty served 2.2 million block served 22 million
I twisted it all around to make it look like liberty only served 10% of the clients block did
I shouldn’t have done that
Sorry to make the numbers lie like that
Who cares? Store owners don’t really care. It’s only important if this helps your business. This business might be ok if you stick to one location and can bring in customers, but don’t try to grow it. No one understands the 12 percent interest rate, especially not bankers. Their eyes get big and then they tell you current rates are 4 to 5 percent for good credit and 6 percent for bad credit.
LTS is the 100% blame for this unhappy board, no matter what the cheerleaders for LTS state differently! They still to this day, state lie after lie in their advertising on selling the territories. People with a lot of business experience have been stung by this company and their slick marketing. This business is strickly a paper performance business. Looks great on paper, but sucks otherwise. I am sure “false advertising” is somewhat of a crime in this country. The ones that have done real well in LTS are: 1st in a large territory and 2nd writes every tax return that walks through the door, no questions asked. If they don’t write them, they will give a free tax return and give them money to love them. Can anyone think of the massive fraud this company is encouraging, just by their marketing skils.
DOES ANYONE HAVE A LIST OF THE COURT CASES LIBERTY HAS BEEN IN, I KNOW THE ONE IN SC AND ANOTHER IN CA.. LIBERTY LOST BIG TIME UNDER RACKETERING CHARGES..
Greg, I thought you were suggesting that most LIberty’s do 10% of the volume a nearby HRB does, which is not true – so when I saw what you meant that leads to a different conclusion. Liberty being a small % of HRB in total suggests more opportunity for Liberty, as that obviously includes areas where HRB is very strong and there are very few LIberty’s even open yet, or where the Liberty is in the early years / high growth phase, or where a Liberty was started by the 5% or so who ultimately fail.
One of the general themes here is that LIberty has committed fraud on the franchisees. One of the celebrations here is an ongoing investigation. So if any wrongdoing comes to light then you’ll have something to hang your hat on, otherwise it really does sound like sour grapes.
For those that leave and start their own practice – good for you – but don’t be proud of committing fraud if you’ve violated your franchise agreement with Liberty. If you haven’t, then what’s fair is fair – you’re on your own and doing great and there is nothing wrong with that.
I am in my own business and it has NOTHING to do with Taxes, Accounting OR franchises. NEVER AGAIN. Made that mistake once, never to be repeated. (I have a very lengthy Tax & Accounting background)
Signing on with Liberty Tax was a NIGHTMARE and a half in every way, shape & form. ANYONE that is looking to go into that business needs to read this website of why many ex-franchisees are so unhappy. You are basically signing your money over and getting so very little in return except LOTS & LOTS of aggravation.
Liberty Tax ABSOLUTELY committed fraud on their franchisees in many different ways. The truth will come out eventually and when it does, justice will be served.
I did not fail Liberty at all, they failed me. So you keep going on believing what you want…..many of us here have already seen the true situation. Again, many, many unhappy franchisees, one happy one. Yea for you. Knowing what I know now, I would HIGHLY DISCOURAGE ANYONE from signing on with this franchise if they ever want to see their money and their sanity again. And I’m not alone. Many others feel that way too. Just read the few thousand posts that say the same.
The Liberty model is now dead. You can’t get the RAL’s anymore. The Refund check bank products are slower than the Federal Refund and it is ridiculous to charge for that privilege. Liberty does not do national advertising (Unlike Block). The idea of dressing up a bunch of homeless derelicts in Liberty costumes is absurd. Guerrilla marketing is not a basis of an ad campaign. The skill set for tax preparers requires much more knowledge than a week of training. The low end tax preparation market is in overall decline due to free services being offered by the IRS and other software producers. Free tax returns means no money coming in ever!. Brand loyalty is only for the most recognized service that has a national advertising program. Taking a 19% royalty fee for virtually no support, lousy software and a marketing plan that is best described as ineffective, is simply robbery. Selling this concept to the public and investors is reprehensible. Looks to me that there are quite a few issues here about Liberty and John Hewitt that should keep anyone from even being associated with these crooks.
It doesn’t get much clearer than this!
With HR Block closing down stores, how many can Liberty sustain?
This company’s secondary business is the tax preparation business it’s primary business is selling franchises. Based on their financials they have the potential to sell 5000 new locations. The people who are buying the stock are banking on that and that’s what’s keeping its stock price up . They know that the company has very little cost when it comes to sustaining any store because the cost is born by the poor individual who was duped in to purchasing this franchise.
I’m hoping that through sites like this we might be able to catch the eye of
someone like Elizabeth Warren, who could champion for franchisees.
I’d love an update from Trisha or someone else that can tell us that Liberty Tax is being investigated as we speak……….lots & lots of dirt will come up on this guy…..
it would be great to hear more from ex-franchisees and their experiences with LTS.
It needs to become a national story, not just a little one in South Carolina.
Now that the trial in South Carolina is over I don’t think we will be hearing from
Trisha.
JTH Inc. did not release it’s financials by the required date of 8/15/13 which is a violation of sec regulations. Just another example of how poorly the company is run
@ Bill – They look like they did another extension till 08/31/2013. So let’s see! This does not give me a warm fuzzy.
Unfortunately I think trish settled. Don’t blame her. I am listening to idiot hewitt s call for July as he thinks liberty is equal to burger King. No way
@Mike – You are earning your stripes for Sainthood by listening to those calls. I have been listening to them for almost 5 years.
He might be right with the Burger King analogy. Another brand that needs to be improved.
Franchizee: The SEC only grants one extension for 15 days. There is no second
extension so the filing when it happens will be considered late. Since this will be their first violation of SEC regulations it is unlikely there will be any action by them.
However, it is possible that the exchangers could impose some type of penalty,
The 8/31/13 date is to meet the loan covenants. To miss that date would and should create a problem for the company’s funding needs. The less money available to JTH Inc. the less working capital they can lend to the franchisees. This in my view is the “Catch 22” the company has created for itself.
@Bill – The meeting regarding the loan covenant’s would make perfect sense, since they are encouraging people who live off the loans from LTS to start obtaining their own financing through banks etc. Seriously folks, what type of business are they running, if it can’t fund itself all year as it was sold to many to do according to John himself.
Did they miss the filing? Nothing on Zeenet about the late filing…..
Yes they did miss the SEC Filing date it was 8/15/13. Go on to yahoo finance
and in the symbol box type “TAX” The summary page will open and you can
scroll down to SEC filings listed on the left hand side which will show the filing for the extension and the filing for the Loan covenant.
Liberty hoped to take off the pressure of having to borrow from banks by going public but the timing was during the great recession and they never went forward with the IPO. Of course instead of pulling back the King with no clothes let his ego get in the way and went on the nasdaq exchange. Depending on the restated financials this could be his and Baumgartners waterloo.
Do you get the feeling the restated financials will have a positive spin? It seems the stock price hasn’t gone down to reflect the house of cards the financials really represent. As has been pointed out before, Hewitt has an uncanny ability to dodge government bullets using a money shield. Its a pity that the justice department can’t figure it out, either. Or is that how the money goes? Pop!, goes the weasel.
@Bill — Always wondering why he went public when he did. Apparently it was a money deal and too bad it just didn’t go under earlier. If they are unable to get these financials to work what would be his next step??
It seems his books are “cooked” as much as the P & L’s his cronies would force us to fake to fit his fake company. I am short $40K or more per year and they state that is impossible, fix so it does not show that much loss. Poof, it is fixed, but I am still short…..Hummm
PULEASE tell me that this is the beginning of his downfall. For waaaay tooooo long he has bought his way out of tough situations.
For over 40 years this man has avoided the radar and has built a fortune on other people’s misery. His tactics are brilliant and have worked—–until now. Hope he faces a lifetime in jail.
Liberty always made me cook my books! The AD never agreed with the amount of expenses I reported even though they were exact-right out of my check book.The AD even said that I should not report royalty payments because they don’t reflect ‘real costs’. The other thing Liberty insisted on was to report my gross sales, not accounting for charge backs such as bad debts for dead beat clients. This amounted to about 10% of my business. The budgets were always a farce at the end of the year and ultimately, Liberty applied their own numbers which I refused to sign off on. That produced yet one of the many “Notice to Cure” letters I would receive in a year.
So, it is quite believable that the books that Liberty presents to the SEC are indeed less than truthful. I would question those practices of how revenue is booked as well. Looks like to me Liberty and John Hewitt are pulling the same crap that they always pull: Inflate sales, and number of returns done while downplaying expenses.
None of the accounting issues will stick with John Hewitt. He will blame it on other people like Mr. Baumgardner. I believe John is still the majority shareholder and therefore can not be forced out by the others. The best case scenario is Liberty will struggle with obtaining financing. By not having the financing they can not assist struggling franchises which would mean those locations will need to obtain their own financing or close.
Other areas of accounting I would scrutinize is A/R and the allowance for doubtfull accounts. According to the notes the A/R is backed by the financial
strength of the underlying franchisee. If most of these operations need operating loans to carry them through to the next season and they can’t secure better financing terms then the 12% rate charged by Liberty then most do not have any real financial abiltiy to pay the A/R back. Also how does Liberty account for when they take back a franchise. They should book the loss and only recognize the value of the territory taken back when they sell it.
@TexasTee – Same here on the P&L and budget. My tax return shows such a different number, but all adds up to huge losses by this company.
@Bill – This company is sooo messed up financially. I am sure someone is going to have their heads roll over this first year. But hey, now he can feel the way the rest of the franchisee feel with this cr@p ola company. Busted broke!
Bill:
He’s a major shareholder and cannot probably be forced out by the others….BUT he can be forced out by the SEC, IRS and/or DOJ. Here’s hoping that miracles DO happen.
If a TP wanted to work as a tax preparer and had lost in court under the RICO charges , false adverising and had the SEC after him.. Would the IRS give him a PTIN or allow the now knowed criminal to file as an ERO…
Isn’t it time for the IRS to pull JTH ticket and get them out of the tax business. Hmmmm
No. What about all the hard working franchisees?
They may be hard working but they are blissfully unaware of what a crook he is. Get him out.
If Liberty is really requiring you to cook your books, you shouldn’t be complaining here. Give that info to the SEC. They will definitely be interested.
They already know……LTS will do what they want, when they want.