Bob Scott

Bob Scott

Tax Season Delay Shifts Intuit Revenue

The extension of the income tax filing season  from April 15 to July 15 removed a chunk of revenue from Intuit’s results for the third quarter ended April 30. Consumer tax revenue was off by 15 percent and professional tax revenue by 17.8 percent.

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Paychex Sees Some Business Improvement

Paychex has found its business stabilized or improved in some key areas in May. The company said recently despite the deterioration after mid-March, in the second half of April it saw some positive signs.

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Survey: Corporate Tax Hiring Plans Plummet

Plans by nearly four in ten respondents before the COVID-19 outbreak to add staff have dropped to fewer than one in ten, according to a survey, "Initial Impact of the COVID-19 Virus", by Bloomberg Tax & Accounting. The preliminary results of the annual benchmark survey of corporate tax departments also found an increase in concern about cash management.

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