TAXS, and Visa Stock Update - PennyToBuck.com

Aug. 6, 2010 - PRLog -- TaxMasters, Inc.  filed a Current Report on Form 8-K on Wednesday, July 7, 2010 to announce that Patrick Cox, its founder, CEO and majority shareholder, voluntarily entered into a Financial Reorganization Agreement in which Mr. Cox deposited 200 million shares of his TaxMasters common stock with TaxMasters' transfer agent, Olde Monmouth Stock Transfer Co., Inc. These shares will be held in escrow by Olde Monmouth for a five year period ending June 30, 2015. During that time, Mr. Cox has waived his right to vote the escrowed shares and he has also waived his right to receive any dividends or other distributions by TaxMasters with respect to the escrowed shares. As a result of Mr. Cox's voluntary escrow of shares, there are now 139,676,105 shares of common stock that can be voted or can receive dividends or other distributions. The 139,676,105 shares will also be the number of shares used to calculate earnings per share for TaxMasters financial statements.

After each fiscal year during the five years that Mr. Cox's shares are being held in escrow, Mr. Cox may claw back a portion of the escrowed shares based on a formula linked to the financial performance of TaxMasters. Any shares Mr. Cox does not claw back prior to June 30, 2015 will be turned over to the Company for cancellation.

TaxMasters, Inc., the IRS tax relief company, is the first publicly traded tax representation 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. For more information, visit www.txmstr.com/

Visa Inc.  announced that its board of directors had declared a quarterly dividend in the aggregate amount of $0.125  per share of class A common stock (determined in the case of class B and class C common stock on an as-converted basis) payable on September 1, 2010, to all holders of record of the Company's class A, class B and class C common stock as of August 13, 2010.

Visa Inc. operates the world's largest retail electronic payments network providing processing services and payment product platforms. This includes consumer credit, debit, prepaid and commercial payments, which are offered under the Visa, Visa Electron, Interlink and PLUS brands. Visa enjoys unsurpassed acceptance around the world and Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in more than 170 countries. For more information, visit www.corporate.visa.com.



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