Schad, Diamond & Shedden, PC is currently investigating complaints against TaxMasters, Inc., TMIRS Enterprises, Ltd., TM GP Services, LLC, TM GP Services, LLC, d/b/a Taxmasters and other purported "tax relief" companies.
Customers of TaxMasters have reported that TaxMasters misled them by falsely claiming it would help them reduce their taxes. TaxMasters advertised itself on national television as a "tax resolution firm", inviting customers to "solve their tax problems by calling TaxMasters' toll free telephone number for a free consultation with a tax consultant." The TaxMasters employees claiming to be tax consultants are actually salespeople.
TaxMasters requires its customers to pay several thousand dollars upfront in exchange for lowering their taxes due to the IRS. But TaxMasters promises tax reductions that it does not get from the IRS or that its customers do not qualify for under IRS rules.
Customers reported that TaxMasters takes its customers' money up front but does nothing to lower their tax debt. In the meantime, interest on the tax debt increases daily. TaxMasters claims it employs and uses the expertise of tax attorneys and CPAs but states that it is not a law firm or CPA firm.Illinois residents who have complaints against TaxMasters or other entity claiming to be a tax relief company or offering tax resolution services may call Schad, Diamond & Shedden, PC for more information at (866)294-0539 or (312) 939-6280. You may also email attorneys James Shedden or Tony Kim.