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Breaking News:
TaxMasters, Inc. (OTCBB: TAXS)

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href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=886&F=H">TaxMasters,
Inc. (OTCBB: TAXS)

TaxMasters Reports Increased Operational Efficiency and Improved
Customer Relationship Management

Improvements a result of internal Processes, Procedures, and Policies
(P3) system and strategic changes completed in second half of 2009

Today’s full release:

HOUSTON, Jan. 12 /PRNewswire/ — TaxMasters, Inc. (OTC Bulletin Board:
TAXS), the  href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=989&F=H">IRS
tax relief company, today announced an increase in operational
efficiency across the company’s operations and customer relationship
management (CRM). The changes include an up to 50% improvement in customer
response and case completion time, and a decrease in operational
costs.

These improvements are the result of a strategic review TaxMasters
undertook in April, 2009, to increase productivity, improve customer
service, and better address rising demand for its services.

“The P3 initiative was extremely important from a strategic and
operational standpoint for TaxMasters,” said TaxMasters’ Founder,
President and Board Chairman Patrick Cox. “As we continue to see
significant increases in demand for our tax relief services, and
corresponding growth in our customer base, it is essential that we evolve
our operations and CRM to maximize efficiency and customer service. Demand
effectively dictated a need for increased standardization and automation
in our processes.”

The evaluation system, know as P3, or Processes, Procedures, and
Policies, identified areas of opportunity to improve efficiency. This
included standardization, automation and the elimination of redundant
processes.

“The changes made as a result of the P3 process allow TaxMasters to
grow with the market demand, ensure maximum productivity, and provide the
best possible experience for our customers,” Mr. Cox continued. “They are
also consistent with our stated commitment to sustainable growth,
increased shareholder value, and prudent use of capital while reducing
unnecessary costs.”

The recommendations that resulted from the P3 initiative were tested
in the second quarter of 2009, put into place in the third quarter of
2009, and implementation was completed at the end of the fourth quarter of
2009. The changes include an automated customer routing process to connect
specific case types with the proper case manager, a fast track response
process for less complex customer cases, controls to ensure accountability
and follow-up, and a proprietary software system to help automate and
manage the changes.  

Mr. Cox concluded, “Every TaxMasters team member had a role in the P3
initiative and the subsequent improvements, and I’d like to recognize them
for their efforts. These changes will allow TaxMasters to help even more
tax payers find tax relief in 2010 and the years to come.”

About TaxMasters, Inc.

TaxMasters, Inc. (OTCBB: TAXS), the  href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=991&F=H">IRS
tax relief company, is the first publicly traded tax resolution
firm in the United States. Started by Patrick R. Cox in 2001, TaxMasters
offers services and counsel to taxpayers across the country facing
seemingly insurmountable tax problems, and relief from substantial federal
tax debt.

Employing over 300 tax resolution experts, TaxMasters leverages the
expertise of ex-IRS agents, enrolled agents, attorneys, CPAs, and seasoned
tax consultants ready to counsel and assist every day people with their
specific tax issues today.

For more information about TaxMasters, Inc. and its commitment to help
taxpayers in the United States solve  href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=992&F=H">tax
problems, please visit href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=988&F=H">www.txmstr.com.

Follow TaxMasters on Twitter at  href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=990&F=H">http://twitter.com/gotaxmasters.

Forward-Looking Statements

Any forward-looking statements, as defined in the Securities
Exchange Act of 1934, in this release (often identified by such words as
“believes,” “expects,” “beginning,” “intended,” “planned”) regarding
future expectations, objectives, and plans for TaxMasters, Inc. are based
on opinions and estimates of management at the time the statement was
made. Various known and unknown factors may cause actual results to be
materially different from the expected outcomes. TaxMasters, Inc. does
not, as a matter of policy, update or revise forward-looking statements.
Actual results may vary materially.

Our Profile for TaxMasters, Inc.:

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href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=886&F=H">TaxMasters,
Inc. (OTCBB: TAXS)

TaxMasters is an established tax resolution firm that provides tax
relief to clients by assisting taxpayers with matters at the Internal
Revenue Service (“IRS”), especially the resolution of disputes
and assessments and the settlement of tax liabilities.

The firm consists of experienced tax professionals that help clients
solve Federal tax problems, ranging from filing delinquent tax returns to
settling tax debts. These tax professionals are experienced in analyzing
and providing solutions to even the most complicated tax problems and
guiding clients through the bureaucracy of the IRS.

Tax professionals include:

• Tax Attorneys
• Certified Public Accountants
• Former IRS agents
• Licensed Tax Preparers
• Other tax professionals authorized to practice before the IRS

There is an estimated $184B in uncollected federal income tax.
TaxMasters targets potential clients through the media supported by an
effective internet site. In its June 2007 report, Tax Debt Collection
the GAO states that the total unpaid tax debt as of fiscal year 2007
was $290.1 billion.

Revenue Sources

The Company’s revenue is generated from the sale of their
proprietary tax resolution products and services.

Six major services rendered by the Company:

• Consultations
• Tax Returns
• Automated Collection Service
• Revenue Officer Case
• Collection Due Process
• Settlement Analysis

Revenue Soars

Revenues of $8,212,414 for the three
months ended September 30, 2009, represented an increase of $236,759, or
3.0%, from $7,975,655 for the three months end September 30, 2008. This
increase in sales was due to increased sales volume attributable to an
increase in advertising expense.

Revenues of $26,970,767 for the nine
months ended September 30, 2009, increased by approximately $12,584,782, or
87.5%, from approximately $14,385,985 for the nine months end September 30,
2008. This increase in sales was due to increased sales volume attributable
to an increase in advertising expense.

Net income for the three month period
ended September 30, 2009, was approximately $1,635,335 as compared to net
income of approximately $2,494,519 for the three months period ended
September 30, 2008, a decrease of approximately $859,184, or 34.4%.

Net income was up 441.8% for the nine
months period ended September 30, 2009, and was approximately $6,165,505 as
compared to net income of approximately $1,137,875 for the nine months
period ended September 30, 2008, an increase of approximately
$5,027,630.

chart here

Tax Masters Advertising – Growth Strategy

Tax Masters current ads appear on multiple cable networks including Fox
News, Headline News, CNN, the History Channel, and various others. It is
difficult NOT to see their ads. The IRS tax relief company began running
television advertising locally in the Houston market in 2002. By 2004, the
company expanded advertising and took the commercials national by
2006.

Potential Clients Present in Exponentially Expanding Numbers

One out of every five taxpayers in the United States has been claimed
to have some tax problem. TaxMasters estimates that only 15 percent of
those realize that companies like TaxMasters can help them solve their
particular tax problem. The TaxMasters advertising strategy is to
incrementally increase message visibility to the taxpayers who need help
resolving their tax problems.

The number of taxpayers in need of these services has increased
significantly with the downturn in the economy. Getting TaxMaster’s
the message repeatedly is the key to generating new clients.

Economic Environment Rocket Fuel for Growth

The poor economic climate and increasing job loss trends that have
carried through most of 2009 will likely affect many taxpayers’
ability to pay their taxes in full. TaxMasters, Inc. is at the right place
at the right time to help a growing number of clients resolve their tax
problems with the IRS.

A surge in sales that began for the IRS tax relief industry in
October builds through April.

TaxMasters reported sales for the first six months in 2009 of
$18,758,000, an increase of $12,348,000 or 193 percent, over 2008 sales for
the same period of $6,410,000. The company used this growth data
along with historical data to plan for the expected 4Q increase in
sales.

Strong Internet Presence

TaxMasters is able to drive internet interest with their media
campaign. There straightforward web site provides a tax client with as
much or as little information as they want. The simple signup box retains
a potential client’s information and they are contacted
immediately.

TaxMasters — We Solve Your Problems http:taxmstr.com

Established Media Relationships

TaxMasters has developed a direct media campaign with strategic and
sophisticated media relationships with various radio personalities over the
years.

TaxMasters manages growth intentionally, hiring teams and additional
talent in coordination with increases in advertising.

In addition to the extensive media advertising you can hear TaxMasters
being discussed on:

• Talking Points with Bill O’Reilly
• Fred Thompson Show
• Dennis Miller Show
• Osgood Files
• Laurie Roth Show

src="http://stockguru.com/lt/TAXS/dennismiller.jpg" height="125"
width="125" />

src="http://stockguru.com/lt/TAXS/fredthompson.jpg" height="125"
width="125" />

src="http://stockguru.com/lt/TAXS/osgood.jpg" height="125" width="125"
/>

src="http://stockguru.com/lt/TAXS/talkingpoints.jpg" height="125"
width="125" />

You can also see the television spots for TaxMasters on various cable
channels and on the TaxMasters web site at href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=885&F=H">www.txmstr.com.

Tax Masters Growth

Employees:

• In 2006, the company employed 15 people
• in 2007, the company employed 101 people
• By the start of 2009, the company employed 210 employees and hiring
  continued throughout the year
• In early 2010, TaxMasters expects to have almost 300 employees on
  staff

Effective Growth Management

The company carries relatively little debt and has posted impressive
revenue gains in the recent past.

• In 2007, the company reported total revenues of $6.5M.
• For 2008, revenues grew by 132 percent to $15.1M.
• The growth has continued, with sales from the first six months in 2009
  of $18.7M representing an increase of 193 percent over 2008 sales for the
  same period of $6.4M.

The 4Q plans at TaxMasters include moving into larger office space to
accommodate an expected growth in personnel, delivering a review of the
company’s processes and procedures with efficiency recommendations, rolling
out proprietary workflow control software to streamline production, and
increasing advertising to grow sales.

These plans are rooted in TaxMasters’ commitment to manage growth
successfully while increasing sales on a consistent, predictable path.

Streamline Productivity

Initially aimed at increasing productivity, P3 provided a formal
process flow for every area of the Company, which is the basis of a new
proprietary control and workflow management software application currently
undergoing operational testing. Both P3 and the new workflow management
application are direct results of TaxMasters’ commitment to manage growth
and reduce costs. Squeezing out inefficiencies and improving customer
service remain at the heart of the company’s efforts to grow gracefully
while experiencing what it calls a fourth quarter surge.

TaxMasters employs a system known as: P3, which catalogs and analyzes
the Company’s internal Processes, Procedures, and Policies (P3) in an
effort to identify and target opportunities to increase efficiency. The P3
Report was finalized in April and consists of a comprehensive assessment
including efficiency recommendations linked to objective standards and
measurable criteria. After experimental implementation of the recommended
changes in early Q2, TaxMasters has seen steady improvements in workflow,
speed of service, and customer service management throughout Q2 and
Q3.

Hands On All Encompassing Client Service

TaxMasters offers a full service counseling and resolution approach.
The broad range of experienced and specialized tax professionals have the
skill and knowledge to reduce client’s tax liabilities and solve IRS
tax problems. Rules established by the Internal Revenue Code and IRS
regulations are used to help clients resolve matters with the IRS.

Tax professionals help clients:

• Reduce taxes
• Eliminate penalties
• Provide experienced representation before the IRS

A no-charge initial consultation regarding tax problems is offered. The
free initial consultation enables the Company’s tax consultants to get
information from the potential client about his or her tax problem and
understand the nature of the problem.

From the initial consultation services and forms the client will need
are determined a cost estimate for the client is prepared.

Client a fees are based on the type of tax problem addressed and the
services provided.

• An IRS collection matter
• Preparing or amending tax returns (including schedules)
• Negotiated settlements and/or
• Audits

In addition, some rates will vary depending on whether client is an
individual or a business. Built into the fees are the initial consultation
with the IRS to determine all of the client’s problems and the
preparation of a findings letter outlining the tax problems.

In addition to the fee, certain services will require our tax
consultants to interact with the IRS, such as a settlement negotiation or
an audit, for which a charge is made for additional consulting.

Services may be incurred on a “pay-as-you-go” basis and an
installment plan.

First Tax Resolution Firm to Be Publicly Traded

TaxMasters completed a reverse merger with Crown Partners, Inc. in
August, 2009 changing the company name to TaxMasters, Inc. (TAXS). Tax
Masters was the first publicly traded tax resolution company in the United
States.

Tax Masters Management

Patrick R. Cox is the founder of
TMIRS Enterprises, Ltd., the predecessor to TaxMasters, Inc. Mr. Cox has
been a director and TaxMasters’ President and Chief Executive Officer
since January 2004. Mr. Cox is a Certified Public Accountant licensed in
the state of Texas.

TaxMasters was started by Patrick R. Cox
around 2001. In the 1990’s, Mr. Cox became the youngest ever vice
president with Kemper Insurance Companies when he was promoted to Vice
President of Finance at age 31.

Patrick Cox left Kemper in search of
entrepreneurial success in the late 1990’s. When Mr. Cox started Tax
Masters, he and Vice President of Sales Alex Clamon worked to manage and
balance the company’s commitment to provide quality customer service
with the ability to grow quickly.

Christopher J. Koscinski has served
as the Chief Financial Officer and Treasurer of TaxMasters since September
2007. From October 2006 to September 2007, Mr. Koscinski was a Relationship
Manager and Assistant Vice President at the Global Trust Department of the
Bank of New York, where he handled compliance matters and assisted in the
management of collateral in multi-million dollar secured debt financings.
From July 1997 to October 2006, Mr. Koscinski worked in various capacities
at AIM Investments, including as a supervisor in the retirement services
group from January 2002 to October 2006.

Frederick V. Hackett has served as
Chief Counsel Emeritus of TaxMasters since April 2009 when Mr. Hackett
departed TaxMasters for active duty as an officer in the Judge Advocate
General of the U.S. Army (“JAG”). Mr. Hackett served as
General Counsel of TaxMasters from June 2007 to April 2009. From August
2005 to December 2006, Mr. Hackett served as an officer in JAG. He worked
at Wauson & Probus, P.C. from February 2007 to May 2007 (as Of Counsel)
and February 2003 to March 2004 (as an associate). Mr. Hackett was a
police officer in the Rosenberg, Texas police force from March 1993 to
October 2003. Mr. Hackett is licensed to practice law in Texas.

Michael L. Wallace joined TaxMasters
in November 2008 and became the Secretary and General Counsel in April of
2009. From 2001 to November 2008, Mr. Wallace was Chairman, President and
Chief Executive Officer of Salus Energy Enterprises, Inc., a biodiesel
refining and trading company founded by Mr. Wallace. From 1998 to 2001,
Mr. Wallace initially served as President and later in a consulting role as
Deputy General Counsel at Trinity Energy Resources, Inc., an oil and gas
exploration and production company. From 1993 to 1997, he served as the
General Counsel of Noram Energy Service, Inc., a natural gas and power
marketer. From 1978 to 1993, Mr. Wallace practiced law primarily in the
energy exploration and production industry. Mr. Wallace is a licensed to
practice law in Texas.

Glenn A. Clamon has served as the
Vice President – Sales of TaxMasters since January 2004. Mr. Clamon
is also a co-owner with his wife of Pelagic Marketing, Inc., which is a
sales and marketing consulting firm that he and his wife formed in
2005.

Paulette M. Kitson has served as the
Vice President – Human Resources of TaxMasters since December 2006.
From June 2003 to October 2006, Ms. Kitson worked at Comerica Incorporated,
a publicly traded financial services company, where she was a Banking
Center Manger (2005 – 2006) and an Assistant Manager (2003 –
2004). Ms. Kitson has over 20 years experience in retail banking, including
seven years of managerial experience in that industry.

Kevin L. Schmidt has served as the
Chief Information Officer of TaxMasters since May 2008. From 2007 to May
2008, Mr. Schmidt was the Director of IT for the Houston Texas Fire
Fighters Credit Union, a credit union that provides a range of financial
services to its members. From 2003 to 2007, he was the Director of IT at
American Intercontinental University, a private, multi-campus
university.

Renee L. Anderson-Miller has served
as the Vice President – Operations of TaxMasters since April 2008.
From 2005 to April 2008, Ms. Anderson-Miller was an Operations Manager in
accounting at Encompass Holdings, Inc., a privately held real estate
investment firm. From 2002 to 2005, she was a Senior Tax Analyst and Audit
Coordinator at El Paso Oil & Gas division of El Paso Corporation, a
public traded energy company. From 1999 to 2002, Ms. Anderson-Miller was a
Senior Tax Associate at Arthur Anderson LLP in its Houston Texas office.
From 1994 – 1999, she was a Tax Assistant at The Coastal Corporation,
a publicly traded energy company that was acquired by El Paso Corporation
in 2001.

Board Directors

Michael E. Holdgrafer became a board
director on August 4, 2009 and he served on the Advisory Board of
TaxMasters since September 2007. He has been a corporate attorney for
Dollar Thrifty Automotive Group, Inc., a publicly traded auto rental
company, since March 1996 where he has handled acquisitions and employment
matters (March 1996 to October 2008) and managed Dollar Thrifty’s
properties and concessions group (since October 2008). Mr. Holdgrafer is
licensed to practice law in Oklahoma.

David M. Hyink became a board
director on August 4, 2009 and he served on the Advisory Board of
TaxMasters since September 2007. Dr. Hyink has been retired since April
2007. From June 1980 to March 2007, he worked as Senior Scientific Advisor
and Chief Forestry Scientist at Weyerhaeuser Company, a publicly traded
forestry products company, focusing on topics and issues related to
forestry and forest growth and development. Dr. Hyink received his Ph.D.
in Forest Biometrics, Statistics and Operations Research from Purdue
University in May 1979 and he received a Masters degree in Forest
Biometrics from Stephen F. Austin State University in December 1972.

James S. Milholland became a board
director on August 4, 2009 and he served on the Advisory Board of
TaxMasters since September 2007. Mr. Milholland is a Region Vice President
at Kemper, a Unitrin Business, where he manages Kemper’s casualty and
property insurance business in a seven state region. Mr. Milholland has
worked at Kemper since 1990.

Richard A. Wright Jr. became a board
director on August 4, 2009 and he served on the Advisory Board of
TaxMasters since September 2007. Mr. Wright has served as the President of
Wright’s Reprints, a reseller of content and intellectual property
from national publications, since 2000. He has also served as the President
of Wright’s Printing, a commercial sheet-fed printing company since
2002.

Greg Ralph became a board director
on September 17, 2009 and was appointed as Vice Chairman of the Board.
Since 1985, Mr. Ralph has worked as an accountant at Ralph & Ralph, PC,
an accounting firm based in Houston, Texas. He has been a Managing
Director at Ralph & Ralph since 1993. Mr. Ralph has extensive
experience in business audits, financial planning, business tax planning
and compliance, litigation support in accounting matters and accounting
issues in mergers and acquisitions and buy-sell agreements.

Contact :
TaxMasters, Inc.

NEED CONTACT POINT AND INFO HERE

About TaxMasters: onclick="DisplayMenu(this,'tmalcm', 'C');return false;"
href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=883&F=H">TaxMasters,
Inc. is an established tax resolution firm that provides tax relief
to clients by assisting taxpayers with matters at the Internal Revenue
Service (“IRS”), especially the resolution of disputes and
assessments and the settlement of tax liabilities. href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=883&F=H">TaxMasters,
Inc. helps taxpayers in the United States solve tax problems. onclick="NewWindow('http://www.txmstr.com');return false"
href="http://www.sgurunews.com/emailmarketer/link.php?M=16735&N=576&L=88&F=H">www.txmstr.com.

Forward-Looking Statement: This release may contain
forward-looking statements within the meaning of Section 27A of the
Securities Act of 1933, as amended, and Section 21E of the Securities
Exchange Act of 1934, as amended. All forward-looking statements and/or
Safe Harbor Statement under the Private Securities Litigation Reform Act of
1995 are inherently uncertain as they are based on current expectations and
assumptions concerning future events or future performance of the company.
Readers are cautioned not to place undue reliance on these forward-looking
statements, which are only predictions and speak only as of the date
hereof. Risks and uncertainties applicable to the company and its business
could cause the company’s actual results to differ materially from those
indicated in any forward-looking statements.

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