Taxes and Romance ... If Given the Choice, American Couples Would Rather Plan for Their Future With Tax Refund

PARSIPPANY, N.J., Feb. 11 /PRNewswire/ -- There are many ways to say "I love you" and American couples will use all of them this Valentine's Day. Americans are true romantics! Yet surprisingly, according to a survey conducted by Jackson Hewitt Tax Service, given the opportunity to splurge with their income tax refund, 41% of Americans would invest their tax refund in planning for their future together.

The following are some additional highlights from the survey:

* Mutual planning offers the best romance. Forty-two percent of American
couples are motivated to get their taxes in as early as possible and
relax.

* Men may be more romantic than women. Adoring husbands make up the
majority of those Americans who prefer the idea of a romantic getaway
with their spouse, with 27% of men choosing to spend a refund on a
vacation if they had no debt to pay off; while a bit more conservative
with the finances, only 15% of women would want to spend their refund
money on a romantic rendezvous.

* Materialism is out. Less than fifteen percent of couples wish to show
their love by splurging on a large purchase, preferring instead to plan
for their future together.

"By preparing taxes early and beginning the planning process for the next year, couples give themselves the gift of less stress, more time together and hopefully, more money to plan for their future," said Peter Tahinos, Senior Vice President, Jackson Hewitt Tax Service Inc. "It's clear that taxpaying couples are more concerned with planning for a financially stable future together ... and when you think about that, what better gift could you ask for on Valentine's Day!"

For American couples hoping that this year's tax season will add extra cash to their romantic future, the tax professionals at Jackson Hewitt offer the following tips:

-- Keep in mind that the 15% tax bracket for married filing jointly
filers was expanded to twice the income range as that of a single
filer, reducing the marriage penalty.

-- Planning a family? If you have a child by December 31, you will be
able to claim an exemption deduction for the entire year and enjoy a
Child Tax Credit of up to $1,000 for that child. Having a child may
also increase the amount of your Earned Income Tax Credit.

-- Preparing to propose on Valentine's day? Married by December 31 will
mean married for the entire year for tax return planning purposes.
Filing a joint return usually gives you the lowest tax and the highest
standard deduction.

Survey Methodology:

The current results are based upon telephone interviews with a representative of 1,028 adults, 18 years of age or older, who are employed either full- or part-time and a member of a married couple. Participants included 515 women and 513 men. Opinion Research Corporation's Caravan conducted interviews between February 4 and February 7, 2005. The margin of error is approximately plus or minus 3 percent. A copy of the survey questionnaire can be provided upon request.

About Jackson Hewitt Tax Service Inc.

Jackson Hewitt Tax Service Inc. (NYSE:JTX) is the second largest tax preparation service company in the United States, with over 4,900 franchised and company-owned offices in 49 states and the District of Columbia. Specializing in electronic filing (IRS e-file), the Company provides full service, individual federal and state income tax preparation and facilitates related financial products. Most Jackson Hewitt offices are independently owned and operated. Jackson Hewitt is based in Parsippany, New Jersey. More information about the Company may be obtained by visiting the Company's Web site at http://www.jacksonhewitt.com/.