Who is the Number 1 Tax Svc? TAXS or JTX

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) August 10, 2010 -- TaxMasters, Inc. (TAXS.OB), the IRS tax relief company and a leading provider of tax representation services, today announced that through the Offer in Compromise program with the Internal Revenue Services, it has saved clients a total of $704,000 in the first quarter of 2010.

In the first quarter of 2010, TaxMasters clients owing over $770,000 in past due taxes and accrued penalties, submitted Offers in Compromise that were accepted by the IRS. The accepted offers resulted in TaxMasters clients paying less than 10 percent of the actual tax liabilities owed. Through its knowledgeable staff, TaxMasters was able to settle significant individual and small business tax debts through effective negotiations with the IRS. TaxMasters professionals walk each client through his or her individual case, acting as a liaison between the client and IRS personnel to find financially manageable tax resolutions.

"Many with IRS tax debt don't realize there are over 100 steps involved in completing an Offer in Compromise with the IRS," says Renee Miller, vice president of tax services at TaxMasters. "TaxMasters continues to have outstanding success getting clients back into compliance with the IRS, determining if they qualify for a settlement, and finally helping them effectively prepare and submit quality Offers in Compromise."

An Offer in Compromise is an agreement between a taxpayer and the government where the government accepts payments of less than the full tax debt in exchange for the taxpayer's promise to abide by tax laws for at least five years. According to the National Taxpayer Advocate 2009 Annual Report to Congress, lawmakers have repeatedly encouraged the IRS to "be flexible in finding ways to work with taxpayers who are sincerely trying to meet their obligations and remain in the tax system."




In their latest press release, Harry W. Buckley, president and chief executive officer of Jackson Hewitt Tax Service Inc. (NYSE:JTX), made the following statement in reaction to this afternoon's announcement by the Internal Revenue Service ("IRS") that the debt indicator will be eliminated for the 2011 tax season:

"The IRS decision to not provide debt indicator data to taxpayers through the electronic tax filing process will make it difficult for the millions of taxpayers who desire to receive cash quickly in connection with the electronic filing of their annual tax return. This form of credit, especially important to middle and low income, often unbanked, taxpayers, may well continue to be available in our industry. However, from the taxpayers' perspective, it will likely become harder to receive credit approval, will cost more and the amount of credit available may be limited – all negative impacts on taxpayers during this difficult economic environment, and all a direct result of the unilateral action taken by the IRS today."






Sign up for free stock alerts at http://www.pennygovernance.com/signup

***************************************

THIS IS NOT A RECOMMENDATION TO BUY OR SELL ANY SECURITY!

Disclaimer: Never invest in any stock featured on our site or emails unless you can afford to lose your entire investment. PennyGovernance.com publisher and its affiliates and contractors are not registered investment advisers or broker/dealers. Our disclaimer is to be read and fully understood before using our site, reading our newsletter or joining our email list. Release of Liability: Through use of this website viewing or using, you agree to hold PennyGovernance.com report and Crown Equity Holdings, Inc. CRWE, its operators, shareholders, employees and/or contractors harmless and to completely release them from any and all liability due to any and all loss (monetary or otherwise), damages (monetary or otherwise) that you may occur. (read more) Rule 17B requires disclosure of payment for investor relations. Crown Equity Holdings, Inc. (CRWE.OB) has previously received twenty four thousand dollars from Tax Masters Inc.(TAXS.OB) for 30 days of advertisement services. Crown Equity Holdings, Inc. (CRWE.OB) has received four thousand dollars from a third party (Marshall Curtis) for 30 days of advertisement for services for Tax Masters Inc.(TAXS.OB) which has expired. Crown Equity Holdings, Inc. has received an additional four thousand dollars from the same third party (Marshall Curtis) for an additional 30 days of advertisement services.

JACKSON HEWITT     t     Tax Masters