Liberty Tax Offers Free Tax Preparation for Toys “R” Us Employees

VIRGINIA BEACH, VA – GLOBE NEWSWIRE

Participating Liberty Tax Service offices will prepare 2017 federal 1040 tax returns for free through April 5, for Toys “R” Us and Babies “R” Us employees who may lose their jobs as Toys “R” Us reportedly plans to close more than 700 U.S. locations.

“It is unfortunate that Toys “R” Us must close its doors, and even more unfortunate that an estimated 30,000 U.S. workers may lose their jobs,” said CEO Nicole Ossenfort. “Our goal in offering free professional tax preparation is to take away the stress of doing taxes for Toys “R” Us employees. We can also talk about tax planning and help Toys “R” Us workers prepare for and understand tax implications of other sources of income they may earn in 2018.”

Job loss can bring issues and opportunity. Liberty Tax can help workers realize the tax issues that arise when a job is lost. These may include accumulated sick and vacation pay, severance pay and unemployment compensation, all of which are taxable. Liberty Tax can also address the opportunity and answer tax questions for those who may consider starting their own business or working for themselves in the gig economy. A handy Liberty Tax guide, 11 Tax Questions Every Gig Worker Should Ask, is a great start to helping workers sort through the tax implications of such work.

Liberty Tax knows that store closings can have a deep impact on local communities and businesses. Many Liberty Tax offices are located in communities that will experience these losses, and our local business owners are ready to offer the support they can – with tax advice and information – to their neighbors and fellow business owners.