Shocker: Tax Preparation Outfit Named “Mo’ Money Taxes” isn’t Legit

Shocker: Tax Preparation Outfit Named “Mo’ Money Taxes” isn’t Legit

Share this

James Maule tells the story of a tax preparation company called Mo’ Money Taxes:

One of my readers alerted me to a story of which I had been unaware. It involves a tax return preparation enterprise that has created nightmares for its clients.

The story involves a business called Mo’ Money Taxes, which is based in Memphis, Tennessee. The company is a lender and offers tax return preparation services. It has been sued by several state attorneys general. For example, according to this report, the Illinois Attorney General sued the company, charging it with filing inaccurate returns without client authorization, and with hitting clients with almost a million dollars in hidden fees. The attorney general explained that many clients had not received refund checks.

Illinois is not the first state to file charges. According to this article, two Virginia legislators have asked a crime subcommittee of the Virginia House to hold hearings into the activities of Mo’ Money Taxes. Not only have some of the company’s clients in Virginia not received promised refund checks, other clients who did receive checks discovered that the checks either were less than anticipated or could not be cashed. One of those legislators, teaming up with a different colleague, has asked the U.S. Attorney General, the FBI, and other agencies to initiate a probe into the company’s transactions.

It gets worse. According to this story, thousands of tax documents related to the company’s clients in Tennessee, its home state, were found in dumpsters behind an office building from which the company had been evicted for failure to pay rent. The documents contain clients’ personal information, ranging from income and expense information to addresses, driver license numbers, and social security numbers. The company claims the landlord put the documents into the dumpster, but the landlord asserts that it did not do so.

Yet another story sheds some light into what might be at least part of the reason for what has happened. The owner of Mo’ Money Taxes, Markey Granberry, is in the middle of a nasty divorce proceeding. Amidst claims of physical assaults, adultery, unfit parenting, and drug use, the litigation revealed that the couple is fighting over a significant amount of assets. They own a $1.3 million home, which Granberry’s wife wants, along with their luxury automobiles, which include at least five top-end models. She also wants $800 a month for housekeeping and, shades of the disallowed deduction discussed in Tall Tax Tales, $200 a month for “fish tank maintenance.” According to the divorce papers, the owner of Mo’ Money Taxes owns 11 businesses and 19 properties.

In 2009 I wrote about a tax outfit called Taxes By Mr. Bill. Their proprietors, too, had engaged in illegal conduct and the business was eventually shut down by the IRS and federal authorities. Here’s what I wrote then. It applies equally in the case of Mo Money Taxes:

The company is being investigated on charges that it may have stolen their clients’ tax refunds.  IRS agents stormed into Taxes by Mr. Bill with a warrant and came out with several boxes of documents. 

Eyewitness News said that the raid was part of the IRS’s criminal investigation division’s tax fraud investigation.

Here’s the part of the report that makes me chuckle:

Customers who showed up to get their tax refunds said they were surprised when they found out the IRS was there and the tax office was suspected of ripping customers off. 

I supppose had these customers known that Mr. Bill wasn’t running a straight ship they would have chosen I’m Gumby Damn It Taxes instead.

Tax preparation outfits that use silly names like Taxes by Mr. Bill and Mo Money Taxes prey on the weak, uneducated and uninformed. I believe Dante reserved his ninth circle for the charlatans who do that.

About Peter Pappas

Peter is a tax attorney and certified public acccountant with over 20 years experience helping taxpayers resolve their IRS and state tax problems.

He has represented thousands of taxpayers who have been experiencing difficulty dealing with the Internal Revenue Service or State tax officials.

He is a member of the American Association of Attorney-Certified Public Accountants, the Florida Bar Association and The Florida Institute of Certified Public Accountants and is admitted to practice before the United States Tax Court, the United States Supreme Court, U.S. District Courts - Middle District of Florida


  1. Peter, if you think the name “Mo’ Money Taxes” is silly, wait until you see their commercials.

    Go to YouTube and type in “Mo Money Taxes commercials”, and you’ll hit the motherlode.

    Just a tip…