News

William Cobb pulled down just under $12 million in compensation in his first year as CEO at H&R Block. Cobb earned that amount for the year ended April 30 in a company that has seen high turnover in its executive ranks over the last two years.

Thomson Reuter's Tax and Accounting business turned in strong results for the second quarter ending June 30 with a 19-percent increase in operating profit and a 25-percent increase in revenue. Those operations were by far the strongest among Thomson's businesses with the parent company reporting an 8-percent drop in underlying profit and a 1-percent increase in revenue.

CCH is being remade. The latest change element is the pending departure of Mike Sabbatis, who has served as president and CEO since 2007. He will leave in September. That follows the June resignation of Bob Dias, VP of product management, after 33 years with the company. Sabbatis will be succeeded by Karen Abramson.

Two Alabama preparers have been sentenced to prison in a case that has already seen three other employees of the same firm given sentences. James E. Moss was sentenced to 160 months in prison and Avada L. Jenkins to 41 months for their role in preparing false returns at Moss's Montgomery, Ala.-based Flash Tax business.