Mo’ Money Taxes – OMG!
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I can’t make this stuff up. If you wonder why the IRS says that it needs to make sure that tax preparers need to meet some kind of professional standard, then look no further.
Mo’ Money Taxes is a medium-sized tax preparation company. They have over 100 locations in the Mid-South. Most of their firms are in Tennessee and Mississippi. They have 10 locations in North Carolina. I called an office to see if I could get my money fast. They said it was no problem. “Bring in your paycheck, we’ll get you an estimate.”
The staffer in Raleigh indicated that they partner with Chase for their tax refund anticipation loans.
I saw a reference to the Household hotline for loans. That would suggest Household Finance, a division of HSBC. In 2007, the Commercial-Appeal said the same thing: “Mo’ Money’s is HSBC.” HSBC is the partner with H&R Block for Block’s refund anticipation lending. Block has kept its RAL prices relatively low. This year, they are charging a handling fee of $29.95 for each RAL.
That is not the case with Mo’ Money, where RALs cost more money. HSBC says that a $3,000 RAL would come with a $62 fee. NOTE: Chase is the partner for Mo’ Money. HSBC could have been the partner in 2007, as the Commercial-Appeal suggests, but they are no longer providing funds for RALs offered at Mo’ Money. Just to be sure, I went to a second Mo’ Money Store on Saturday. It was Chase there, as well.
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Hard to believe. These ads should provoke some problems. Guess what? They are winning awards. Indeed, the Memphis Commercial-Appeal reports that Mo Money Taxes have won awards for their advertising. In 2004, they won a Telly (like Oscars, but for television advertisement) for their Dukes of Hazard-themed ad.
It would be hard to ignore how this makes a statement on race.
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In these advertisements, there is no claim to the quality of the tax prep. The main reason to go to Mo’ Money is to get your cash in 24 hours.
