WASHINGTON, DC - Alleging that Mo Money Taxes promotes a culture of volume and profits over accuracy and integrity, the Department of Justice is moving to shut it down.
The government lawsuit accuses the company, its owners,and a store manager of encouraging Mo Money tax preparers to:
Falsely claim the earned-income credit
Claim improper filing status
Claim bogus education credits
Improperly prepare returns using paystubs rather than employer-issued W-2 forms
Fabricate bogus W-2 forms
File tax returns without customers' consent
Sell false and deceptive loan products
Charge deceptive and unconscionable fees.
Rep. Bobby Scott (D-3rd D.) and other legislators had asked the DOJ and the Internal Revenue Service to investigate after numerous complaints from customers in Virginia and other states.
Rep. Scott, in a statement, said "I hope this action will provide some measure of justice to those who were victimized by Mo Money's activities."
At one time, the Memphis, Tennessee-based tax-preparation company operated 300 offices in 18 states. They had a half dozen locations in Norfolk.