Jackson Hewitt Tax Service (JTX) 8-K Bankruptcy or Receivership

Exhibit 99.1

Jackson Hewitt Tax Service Inc. (Debtor)	Case no. 11-11587
	Reporting Period: June 30, 2011

JACKSON HEWITT TAX SERVICE INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(Unaudited)

(Dollars In thousands, except per share amounts)

	As of
	June 30, 2011			May 24, 2011 (b)
Assets
Current assets:
Cash and cash equivalents	$	86,646		$	94,880
Accounts receivable, net of allowance for doubtful accounts of $2,580 and $2,675, respectively		10,801			12,895
Notes receivable, net		6,618			6,605
Restricted cash		2,001			1,548
Prepaid expenses and other		14,516			15,599
Total current assets		120,582			131,527
Property and equipment, net		18,557			19,519
Goodwill		150,339			150,339
Other Intangible assets, net		86,051			86,190
Notes, receivable, net		4,670			4,608
Other non-current assets, net		10,096			10,620
Total assets		390,295			402,803
Liabilities and Stockholders’ Deficit
Current Liabilities
Accounts payable and accrued liabilities	$	9,175		$	8,876
Income taxes payable		21,545			27,194
Deferred income taxes		1,251			1,251
Deferred revenues		6,422			6,673
Total current liabilities		38,393			43,994
Deferred income taxes		25,751			25,751
Other non-current liabilities		7,658			8,165
Total liabilities not subject to compromise		71,802			77,910
Liabilities subject to compromise:		��
Debt		355,488			355,488
Pre-petition accounts payable and accrued liabilities (a)		5,629			4,515
Total liabilities subject to compromise		361,117			360,003
Total liabilities		432,919			437,913
Stockholders’ deficit:
Common stock, par value $0.01; Authorized: 200,000,000 shares; Issued: 39,753,757 and 39,753,757 shares, respectively		395			395
Additional paid-in capital		391,902			391,717
Retained deficit		(132,017	)		(124,318	)
Accumulated other comprehensive income		-			-
Less: Treasury stock, at cost: 10,856,590 and 10,852,293 shares, respectively		(302,904	)		(302,904	)
Total stockholders’ deficit		(42,624	)		(35,110	)
Total liabilities and stockholders’ deficit	$	390,295		$	402,803

Jackson Hewitt Tax Service Inc. (Debtor)	Case no. 11-11587
	Reporting Period: June 30, 2011

JACKSON HEWITT TAX SERVICE INC.

Notes to Consolidated Balance Sheets

(Unaudited)

(dollars In thousands)

(a) Includes the following:

	As of
	June 30, 2011		May 24, 2011
Trade accounts payable	$	1,652	$	734
Lease termination		864		668
Accrued interest expense on debt		1,155		1,155
Derivatives termination obligation		1,958		1,958
Total	$	5,629	$	4,515

(b) The petition date balance sheet includes extrapolated results for the activity from May 1, 2011 to May 23, 2011. An average daily amount based on a 31 day month was calculated for the variance in activity between April 30, 2011 and May 31, 2011. This daily variance was multipied by 23 days and added to the April 30, 2011 balance sheet to represent the petition date balance sheet at May 24, 2011.

Jackson Hewitt Tax Service Inc. (Debtor)	Case no. 11-11587
	Reporting Period: June 30, 2011

Jackson Hewitt Tax Service Inc.

Schedule of Other Assets and Liabilities

(in thousands)

	As of
	June 30, 2011			May 24, 2011
Prepaid Expenses and Other
Prepaid Gold Guarantee	$	5,561		$	5,782
Walmart Kiosk Lease Receivable, net		2,077			2,075
Other Prepaid Expenses		1,515			2,431
Deferred Financing Costs		1,927			1,927
Other Receivables, net		1,178			1,539
Prepaid Insurance		795			917
Prepaid Maintenance		561			544
Prepaid Rent		798			279
Rabbi Trust		104			105
Total Prepaid Expenses and Other	$	14,516		$	15,599
	As of
	June 30, 2011			May 24, 2011
Other Non-Current Assets
Prepaid Gold Guarantee	$	4,709		$	5,108
Development Advance Notes		4,407			4,530
Development Advance Notes Allowance		(535	)		(554	)
Prepaid Insurance		834			855
Walmart Kiosk Lease Receivable		332			332
Walmart Kiosk Lease Receivable Allowance		(11	)		(11	)
Lease Deposits		282			279
Other Deposits		62			65
Rabbi Trust		10			10
Prepaid Rent		6			6
Total Other Non-Current Assets	$	10,096		$	10,620
	As of
	June 30, 2011			May 24, 2011
Other Non-Current Liabilities
Gold Guarantee Deferred Revenue	$	5,304		$	5,751
Deferred Walmart Territory Sales		1,246			1,246
Acquisition Purchase Price Obligation		497			497
Deferred Rent Expense		489			520
Capital Lease Obligation		112			123
Interest Income		-			18
Rabbi Trust		10			10
Total Other Non-Current Liabilities	$	7,658		$	8,165