Suit filed against Mo Money in Illinois

CHICAGO (WAVY) - Illinois Attorney General Lisa Madigan sued Mo Money Taxes for overcharging taxpayers and filing inaccurate returns, according to a press release.

The suit was filed in Cook County (Ill.) Circuit Court on March 15 and aims to not only shut down locations in the Chicago area and in eastern St. Louis, but refund customers at least $800,000 in estimated losses.

"Without customers' permission, this company filed annual tax returns riddled with errors and charged taxpayers exorbitant, undisclosed fees, but worst of all, it failed to provide consumers with their refund checks," Madigan said. "While the promise of fast cash may be tempting, these heavily marketed refund services always end up costing taxpayers much more in the end."

In the release, Madigan states that Mo Money Taxes filed returns without consumers' authorization, some with errors. Madigan also says Mo Money Taxes charged fees to file state tax returns, but never completed the filings on the taxpayers' behalf.

10 On Your Side was the first to report problems with Mo Money Taxes after hearing complaints of Norfolk customers not receiving their tax refunds. WAVY News 10's Anne McNamara traveled to the company headquarters in Memphis, Tenn. to demand answers from Mo Money Taxes CEO Markey Granberry about why customers had not received their tax refund checks. 10 On Your Side has been following this story from its beginning

Virginia Congressman Bobby Scott and a Tennessee lawmaker met with a member of the Justice Department to discuss a possible investigation into the thousands of customer complaints issued against Mo Money Taxes.

Individuals that may have filed with Mo Money Taxes are instructed to do one of the following:

If an individual has filed a tax return with Mo Money Taxes, they can check on the status of that return at www.irs.gov . If the funds have been released to Mo Money Taxes or a subsidiary of that company, Mo Money Taxes is responsible for delivering the refund.

If an individual believes that their taxes have been fraudulently filed, they can contact the IRS at 1-800-829-1040 and report that a false return has been filed in their name. The IRS will provide assistance to them. Click here to complete the IRS Tax Preparer Complaint form.