MoneyCo USA under fire: Taxpayers want their refund checks - WRCBtv.com | Chattanooga News, Weather & Sports

MoneyCo USA under fire: Taxpayers want their refund checks

CHATTANOOGA, TN. (WRCB)  --  Day after day people stop by MoneyCo U.S.A. on Wilcox Blvd. to find out about their tax refund check and very day they were met by locked doors.

MoneyCo or Mo' Money closed its doors for good a couple weeks ago with no warning. "I've been trying to get in touch with them all week and nobody has been here," says Clarence Tramell Edwards.  

Another taxpayer, Tanesha Townsend, says she's been by the office nearly every day. "I've been waiting on my refund for weeks now," says Townsend. "I'm not getting any answers and I still don't have my money."

Townsend says she filed her taxes on Feb. 4, "It was supposed to be deposited into my bank account on the 23rd." She's just one of thousands across Tennessee, Illinois, Virginia and Arkansas facing the same problem.

Channel 3 contacted MoneyCo's headquarters in Memphis. We were hung up on three times and on hold for more than an hour so we contacted their bank, the Value Bank of Texas.

"Its a battle we didn't buy and its a mess we didn't intend to have to clean up so its been hard," says Eric Miller.  

Miller runs up2U Pays, a payment processing business that serves in the middle between Mo' Money and their bank. He says Mo' Money made major input errors and didn't know how to print and deliver checks properly.

"Their money is safe and their going to get their money," Miller says. However, he admits it might take a little more time. "Thank you for patience, thank you for being kind. This is still better than us returning money to the Internal Revenue Service," says Miller.  

"There's a fiduciary duty you have to your clients to make sure that we're a service industry," says Joseph Lautigar. Lautigar opened his own tax business more than five years ago and says taxpayers need to know they're in control.

"There's nobody that can tell you you have to file with us or you have to do whatever. You have every right to get up and walk out if you are not happy," Lautigar says.  

Its a tip Townsend wishes she would've used nearly a month ago. "I'm going to get my money back somehow. I don't know how but I am," says Townsend.  

"We're sorry for what the taxpayers have gone through. It doesn't make sense to me," Miller says.

Miller says his office has been working nearly 24 hours a day to re-distribute $50 million in tax refund checks through FedEx. While he wouldn't give an exact timeline on when to expect that money, he did say they're being printed in Murfreesboro, Tenn. and could take five to seven days to get shipped.

 

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