Mo’ Money Tax Services under investigation

By Monica Land

JACKSON – A tax service receiving criticism and complaints in several states including Illinois, Virginia, Tennessee and Mississippi is being investigated by Congressman Bennie Thompson (D-MS).

Thompson has asked the Department of Justice and the Internal Revenue Service to investigate the numerous complaints his office has received regarding Mo’ Money Tax Services.

“In response to several calls and letters to my office concerning the questionable business practices of Mo’ Money Tax Services, I have asked the appropriate federal agencies to carefully review the claims and allegations raised by many of my constituents,” said Thompson. “Individuals should not have to worry about being taken advantage of while fulfilling their obligations to file their state and federal taxes.”

In Jackson, customers who filed their taxes early are still waiting for their refunds.

Similar outcries are being heard in other states where calls to Mo’ Money offices went unanswered and visits to several locations for inquiries were met with empty desks and dark offices.

“The federal government should work to ensure that this process is safeguarded and that those who engage in predatory activities are shut down and prosecuted,” Thompson said. “This matter seems to be of concern to citizens in several states and deserves the careful scrutiny of our federal officials.”

The Better Business Bureau (BBB) issued an alert to customers earlier this month about Mo’ Money Tax Services which is headquartered in Memphis.

The BBB said Mo’ Money has an “F” rating with them for several years for failure to respond to consumer complaints.

BBB officials said they have received 24 complaints within the last three years; six of those remain unanswered while another eight that were filed recently are still pending.

Complainants filed by consumers in the Memphis area allege that they have not received their refunds when promised. Many of the complaints cite poor service, stating that Mo Money Taxes is unresponsive when questioned about promised refund dates.

Other complaints allege that the company charged them more than was disclosed. Some complainants have accused the company of not giving them copies of their returns.

In 2010, the Arkansas Attorney General sued Mo Money Taxes for failing to properly disclose fees on refund anticipation loans.

The BBB said consumers are urged to choose a tax preparer carefully since it is the taxpayer himself who is ultimately responsible for all information submitted to the IRS.