Today’s highlighted blog post from the Council on Better Business Bureaus (CBBB):

TaxMasters File for Bankruptcy: What You Should Know

By Greg Hudson

TaxMasters, the Texas-based company that claimed to provide services to settle taxpayers’ debts for less and recover property seized by the IRS, has filed for bankruptcy, according to CBS News.

The firm, whose commercials you’ve probably seen, is also being sued by the State of Texas for violating the Texas Deceptive Trade Practices Act. Texas alleges that its TV commercials encourage people to call for a free consultation with a tax specialist but the calls are answered by salespeople unqualified to provide tax advice, CBS News reported. They also allege TaxMasters delays providing its services until it collects all of its fees, even if it causes the taxpayer to miss important IRS deadlines.

What to do if you have paid fees to TaxMasters:
If you used a check or a debit card, you’ll need to file a claim as a creditor and wait for the return of their money. You may only receive some of your money. If instead you paid the fees using a credit card, all you need to do is to contact your credit card company and dispute the credit card charge, stating that the services were never delivered as agreed.

DSEF and Council on Better Business Bureaus (CBBB) fosters honest and responsive relationships between businesses and consumers—instilling consumer confidence and advancing a trustworthy marketplace for all.

About the Better Business Bureaus
As the leader in advancing marketplace trust, Better Business Bureau is an unbiased non-profit organization that sets and upholds high standards for fair and honest business behavior. Every year, more than 87 million consumers rely on BBB Business Reviews® and BBB Wise Giving Reports® to help them find trustworthy businesses and charities across North America. for more information.