The good news in the last two weeks included the fact that Jackson Hewitt's share price has now climbed above $2 per share and the company is in compliance with listing requirements for minimum share price with NASDAQ. However, it still does not meet the exchange's minimum equity capitalization requirements. Violation of either requirement over an extended period could lead to the company's stock being delisted.

The other good news came when the Office of the Comptroller of the Currency at the end of December barred HSBC from funding a refund anticipation loan program for Block. Jackson Hewitt had struggled last year when Block had RALs and it was able to get funding from Republic Bank for only 50 percent of its locations. This year, Republic is funding 90 percent of the chain's business and Jackson Hewitt's ads are prominently telling the public that it has RALs available.