TaxMasters, Inc. (OTCBB: TAXS) National Prominence AND National Dominance
TaxMasters, Inc. (OTCBB: TAXS)
TaxMasters, Inc. – comes to the aid of taxpayers. There is no national household name in this arena, YET. But TaxMasters is making a strong run at becoming the household name for taxpayer aid.
United States Citizens have not historically known where to turn. If you watch television — now you know. It is hard to miss their commercials. TaxMasters makes their case clearly and concisely on national television day after day.
There is unlimited opportunity for the IRS to challenge taxpayers and when this happens, now the first name to come to mind will be TaxMasters. This past month Senator Charles E. Grassley, R-Iowa, formally not his Floor Statement delivered Nov. 18, 2009, “one independent report after another highlights IRS’ enforcement problems …today, the Administration reports that waste of taxpayer dollars from improper Tax Credit payments including the Earned Income Tax Credit, Health Coverage Tax Credit, and Making Work Pay Credit. These payments increased from $72 billion in 2008 to $98 billion in 2009. And, over $12 BILLION – almost 12% – of the $98 BILLION in improper payments was because of the Earned Income Tax Credit.”
“A TIGTA report from November 2009 on the Health Coverage Tax Credit, reviewed a valid sample of individuals who claimed this credit on their 2006 Federal tax returns. TIGTA found that 72 percent did not have the required documentation attached. In addition, TIGTA states that IRS does not effectively identify and prevent individuals from erroneously claiming the health credit on their Federal tax return. TIGTA identified over twelve hundred individuals who appeared to have wrongly claimed $1.8 million of these credits on their Federal tax returns.”
The Internal Revenue Service creates the opportunity and TaxMasters has demonstrated it CAN DO THE JOB.
Once the extensive advertising brings the client in the door TaxMasters has complete service and representation:
The six major services rendered by the Company:
- Consultations
- Tax Returns
- Automated Collection Service (ACS)
- Revenue Officer Case (ROC)
- Collection Due Process (CDP)
- Settlement Analysis
The Company’s recent revenue is undeniable proof that not only is there a need but that TaxMasters can deliver the services.
The Company’s revenue is generated from the sale of their proprietary tax resolution products and services.
Revenue Soars
Revenues for the three months ended September 30, 2009 increased by $236,759, or 3.0%, from $7,975,655 for the three months end September 30, 2008 to $8,212,414 for the same period in 2009. This increase in sales was due to increased sales volume attributable to an increase in advertising expense.
Revenues for the nine months ended September 30, 2009 increased by approximately $12,584,782, or 87.5%, from approximately $14,385,985 for the nine months end September 30, 2008 to approximately $26,970,767 for the same period in 2009. This increase in sales was due to increased sales volume attributable to an increase in advertising expense.
This is a serious company making a serious run at national prominence. TaxMasters, Inc. has the real opportunity to dominate this industry.
Any forward-looking statements, as defined in the Securities Exchange Act of 1934, in this release (often identified by such words as “believes,” “expects,” “beginning,” “intended,” “planned”) regarding future expectations, objectives, and plans for TaxMasters, Inc. are based on opinions and estimates of management at the time the statement was made. Various known and unknown factors may cause actual results to be materially different from the expected outcomes. TaxMasters, Inc. does not, as a matter of policy, update or revise forward-looking statements. Actual results may vary materially.
Disclosure: Pentony Enterprises LLC is STOCKGURU.COM, SHAREHOLDERVISION.COM and STREETRESEARCH.COM. 9555 Lebanon Road; Suite 103; Frisco, Texas 75035. (469) 252-3030. Disclosure for TAXS: Pentony Enterprises LLC expects to be compensated a total of twenty thousand shares and five thousand dollars from a non-affiliated third party for our coverage of TAXS. Pentony Enterprises is not a registered investment adviser or a broker/dealer. Pentony Enterprises LLC makes no recommendation that the purchase of securities of companies profiled in this web site is suitable or advisable for any person, or that an investment in such securities will be profitable. In general, given the nature of the companies profiled and the lack of an active trading market for their securities, investing in such securities is highly speculative and carries a high degree of risk.
