TaxMasters News

TaxMasters may issue press releases from time to time discussing various newsworthy activities relevant to the Company and to its shareholders. Press releases listed here meet all SEC guidelines. For more information about TaxMasters, refer to the TaxMasters SEC filings at www.sec.gov.

2012-01-19 TaxMasters Enters into Security Purchase Agreement
Summary: TaxMasters is pleased to announce it entered into a Securities Purchase  Agreement dated December 14, 2011 with VIG Venture Fund I, LLC (“Fund”)  for the sale of unregistered common stock and warrants.  For further details about the Securities Purchase Agreement, refer to Form 8-K filed by TaxMasters on December 20, 2011.  The Fund has the option to purchase up to $3 million in common stock and warrants as detailed in the Form 8-K and this press release.

2011-09-27 TaxMasters Launches Video Section of Website
Summary: Tax Masters commercials starring founder, Patrick Cox have acquired quite a following over the past few years. Because the demand has become so great, Tax Masters is pleased to announce these commercials are now available for viewing on the Tax Masters Website in a new sub-section, videos.txmstr.com.

2011-07-27 TaxMasters Reviews: IRS Advocate Says Taxpayers with Representation Win More Audits
Summary: While the debate over increasing the United States debt limit rages, the IRS is facing a serious conundrum in managing fraud and collecting revenue, according to Patrick Cox, CEO of TaxMasters (TAXS), the leading tax compliance and repayment services provider in the nation.

2011-07-25 Tax Masters Reviews: IRS Delivers Record Number of Audits
Summary: On the heels of a record reporting year for taxes, taxpayers should be wary – or at a minimum more informed – about audits from the IRS, according to Patrick Cox, CEO of TaxMasters (TAXS), the leading tax compliance and repayment services provider in the nation. According to Cox, the IRS will send out a record number of audits which can be misleading and even wrong.

2011-07-06 TaxMasters Launches New Marketing Initiative
Summary–After the IRS announced a new streamlined offer in compromise program and made it possible for taxpayers to remove a tax lien under certain conditions, TaxMasters, Inc. (TAXS) began executing a new marketing initiative targeting consumers who may qualify to take advantage of what the IRS is calling fresh start changes for taxpayers.

2011-04-14 TaxMasters Explores the Year of the Troubled Celebrity Taxpayer
Summary–With only a few days left until the tax filing deadline, this past year is shaping up to be one of the worst for celebrity tax delinquents, according to Patrick Cox, CEO of Tax Masters (TAXS), who believes celebrities are either victims of bad accounting advice, targets of the IRS or guilty of letting their egos and schedules get in the way of paying their taxes.

2011-02-17 Obama Proposes Increased Budget for IRS Collection Programs
Summary–While Republicans and Democrats debate President Obama’s 2012 budget proposal, Patrick Cox, CEO of TaxMasters, Inc., warns of one particular spending increase taxpayers need to watch, regardless of their party affiliation or political motivations.

2011-02-10 How to Avoid being Audited by the IRS
Summary–As we enter yet another tax season, many individual taxpayers and small business owners share fears about being audited by the IRS, often fueled by misconceptions concerning the audit process and a lack of information about how to avoid being selected for an audit. While audit regulations can be complicated, there are specific steps you can take to stay off the IRS’s radar, according to Patrick Cox, CEO of TaxMasters.

2011-01-19  Filing for Tax Extensions May Come at a Price
Summary–Although small businesses and individual taxpayers have an extra three days to file their federal tax returns this year, preparing paperwork now is essential to avoid filing for an extension in April. While useful in some situations, extensions can lead to a downward spiral of IRS penalties and interest and long-term compliance issues, according to Patrick Cox, CEO of TaxMasters. 

About TaxMasters, Inc.

TaxMasters, Inc. (OTCBB: TAXS) is the first publicly traded tax representation firm in the United States. Started by Patrick R. Cox in 2001, TaxMasters offers a full suite of compliance and repayment services to taxpayers across the country facing seemingly insurmountable tax problems and substantial federal tax debt. Tax services from TaxMasters include IRS consultations, tax return preparation, settlement analysis, and assistance with IRS automated collections, Revenue Officer involvement and collection due process.

Employing over 300 people, TaxMasters leverages the expertise of ex-IRS agents, enrolled agents, attorneys, CPAs, and seasoned consultants ready to counsel and assist the US taxpayer with their specific tax problems today. TaxMasters is not a CPA firm or a law firm.

For more information about TaxMasters, Inc. and its commitment to help taxpayers in the United States solve tax problems, please visit www.txmstr.com.

Follow TaxMasters on Twitter at http://twitter.com/gotaxmasters

Visit TaxMasters’ blog at http://www.txmstr.com/blog/

Forward-Looking Statements

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.

Contact: DeWayne Logan– 281-760-4758