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TRS CEO Michael Rozbruch Comments on the Fallout from TaxMasters’ Bankruptcy and Litigation in TaxNotes
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saravanan2
TRS CEO Michael Rozbruch Comments on the Fallout from TaxMasters? Bankruptcy and
Litigation in TaxNotes
Article in tax publication features Rozbruch?s comments highlighting the need
for oversight in the tax debt resolution industry....
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TRS CEO Michael Rozbruch Comments on the Fallout from TaxMasters? Bankruptcy and
Litigation in TaxNotes
Article in tax publication features Rozbruch?s comments highlighting the need
for oversight in the tax debt resolution industry.
Encino, CA, April 17, 2012 -- Unscrupulous tax debt resolution companies have
been toppling like dominoes of late, with the recent fall of Texas-based
TaxMasters the latest and probably the most publicly disastrous of all.
After
the company, owned by Patrick Cox, finally declared bankruptcy one day before it
was set to face more than 100,000 violations of Texas? Deceptive Trade Practices
Act, a jury ruled against TaxMasters to the tune of $195 million in consumer
restitution, fines and civil penalties, the most substantial decision ever in
these types of cases.
The root cause of their violations is threefold; deceptive
trade and sales practices, not issuing refunds to deserving consumers and the
fact that they advertised and accepted down payments for th
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