Thomson Reuters has acquired the assets of TaxSimple, one of the last independent tax software companies in the tax preparation market. But instead of folding the product line, Thomson is going to use the acquired business to address the small firm market and won't kill TaxSimple products. Terms of the acquisition and the number of TaxSimple customers were not disclosed.

H&R Block needs sharper marketing, improved client retention and top-notch bank products for the upcoming season, according to the company's new CEO Alan Bennett. Bennett made his points in a letter that was mailed to shareholders this month. Shareholders also received a letter from chairman Richard Breeden, whose strategy led Thomas Bloch, son of the company's founder, to resign from the board of directors and issue a letter critical of the company, particularly its allegedly high fees. Breeden wrote that fee increases are largely driven by tax code complexity.