TaxMasters Files For Bankruptcy Protection

TaxMasters and its affiliated companies recently filed for bankruptcy protection. The bankruptcy filing comes after they were sued by the Minnesota Attorney General. The suit alleged that they misled consumers about the help that they could provide regarding tax debt. In many cases the firm charged up front fees of around $8,000 to negotiate tax debt on behalf of the IRS. The issue with charging the fee is that in many cases they did not do the actual work to resolve peoples tax issues. The fee that most of these people paid could have gone to a local tax professional who could have helped with their tax issues.
It all comes down to the fact that consumers need to be aware of who they choose to represent them when it comes time to settle tax debt, or credit card debt. It is important to make sure the company is reputable and will actually spend time working to resolve your case. If you are having debt issues give our office a call at 952-294-0144.