The Tax & Accounting operations of Thomson Reuters reported a 7-percent increase in revenue for the year ended December 31. The unit was up 6 percent in constant currencies and was by-far the most productive part of the company's business for 2017.

Tax reform has the industry moving along at a fast pace. Practitioners are trying to get in touch with the impact of the tax law on 2017 taxes and will be grappling with the far greater impact on returns a year from now.

The benefits of tax reform will primarily accrue to company shareholders, the top executive of Automatic Data Processing said recently. CEO Carlos Rodriguez made the comments during the company's webcast for earnings for the second quarter ended December 31.