The CEO of one of the nation’s largest tax representation firms, John K. Harris, has suspended all current operations at JK Harris and will reportedly file Chapter 11 bankruptcy. Since October 2011, Harris has been attempting to restructure and possibly sell the business and two affiliates under Chapter 11 bankruptcy protection.
Harris is calling the firm’s current state a “reorganization process.” By filing Chapter 11 bankruptcy, Harris is attempting to keep many of the company’s assets while reorganizing and restructuring JK Harris’ finances.
The company who made its name by marketing the slogan, “resolving taxpayer’s debt issues for pennies on the dollar,” has been in financial crisis after multiple client settlements, where plaintiffs claimed they had been misled by JK Harris. Harris’ firm has a countless number of former and current clients who claim to have paid large amounts in fees after being promised compensation and receiving little, if any, return.
To read more on this story visit: http://www.examiner.com/tax-preparation-in-national/jk-harris-to-file-bankruptcy-shutdown-fueled-by-taxpayer-complaints
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