TAXS.ob and JTX Market Update From PennyToBuck.com

PRLog (Press Release) - Jul 27, 2010 -
TaxMasters, Inc. (OTCBB: TAXS) filed a Current Report on Form 8-K on Wednesday, July 7, 2010 to announce that Patrick Cox, its founder, CEO and majority shareholder, voluntarily entered into a Financial Reorganization Agreement in which Mr. Cox deposited 200 million shares of his TAXS.ob common stock with TAXS.ob’s transfer agent, Olde Monmouth Stock Transfer Co., Inc.

These shares will be held in escrow by Olde Monmouth for a five year period ending June 30, 2015. During that time, Mr. Cox has waived his right to vote the escrowed shares and he has also waived his right to receive any dividends or other distributions by TAXS.ob with respect to the escrowed shares. As a result of Mr. Cox’s voluntary escrow of shares, there are now 139,676,105 shares of common stock that can be voted or can receive dividends or other distributions.



To help consumers make smart mid-year tax moves and plan for the biggest refunds they deserve next year, Jackson Hewitt Tax Service (NYSE:JTX) has named Thursday, July 29, 2010, "Big Tax  Check-Up Day."  Tax preparers at participating JTX offices will meet with area residents to conduct the "Jackson Hewitt 5-Point Tax Check-Up" – a free, simple tool designed to help taxpayers better understand actions to take now to make a big difference when they file their tax returns in 2011, either by helping to minimize what they owe or by positioning them to take home their own "big checks" as tax refunds.

Throughout the day on July 29, Jackson Hewitt tax preparers will meet with taxpayers free of charge to review the "Jackson Hewitt 5-Point Tax Check-Up", a step-by-step guide on mid-year considerations that can impact a tax return:


Life Changes Impact
Withholding Alignment
Savings Tools
Current-Year Expense Planning
Expiring Provisions Alert
JTX will also host a 12-hour Q&A session on its national Facebook page. Chief Tax Officer Mark Steber will review questions and post feedback, so that even those who are not able to physically come to a Jackson Hewitt office will have a chance to participate in "Big Tax Check-Up Day."

Jackson Hewitt Tax Service Inc. (NYSE:JTX), with over 6,000 franchised and company-owned offices throughout the United States  in the 2010 tax season, is an industry leader providing full service individual federal and state income tax return preparation. Most offices are independently owned and operated.  In addition, an online tax preparation product, Jackson Hewitt® Online, is available at www.jacksonhewittonline.com.



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