Liberty Tax Service Reports U.S. Tax Results Through April 22nd

VIRGINIA BEACH, VA--(Marketwired - Apr 27, 2016) - Liberty Tax, Inc. (NASDAQ: TAX) (the "Company"), parent company of Liberty Tax Service, announced today that for the 2016 tax season, from January 1 through April 22, the number of returns prepared in its U.S. offices declined by 3.9%. The decline in U.S. assisted returns reflects a challenging season, along with the Company's efforts to ensure that returns prepared are compliant with company standards and the law.

As previously announced, the Company recently created an Executive Compliance Task Force tasked with seeking to ensure that franchisees meet its high standards.

"The results for the 2016 tax season reflect what we believe to be industry-wide challenges," said John Hewitt, Chairman and CEO. "However I am pleased with how our team is responding and believe we will be a stronger Company once the Task Force concludes its work. Liberty is a resilient company with a strong balance sheet and solid core business, built by hardworking small business men and women."

Preliminary Tax Season Results

U.S. Tax Returns				Tax Season 2016 Through 04/22/16		Tax Season 2015 Through 04/22/15		Percent Change
Offices				1,761,000		1,832,000		-3.9	%
Online				139,000		145,000		-4.5	%
		Total U.S. Returns		1,900,000		1,977,000		-3.9	%
Return counts are rounded to the thousands

About Liberty Tax, Inc.