Automatic Data Processing has increased its forecast for revenue growth for its year based on strong improvement in important metrics for its third quarter ended March 31. The company increased its forecast to 9-percent-to-10-percent growth from the prior estimate of a 7-percent-to-8-percent increase for the year ending June 30.

Lenders this week gave Jackson Hewitt Tax Service until May 20 to make a principal payment and to executive documents with them about a proposed restructuring. The latest SEC filing by the tax preparation chain said that options continue to include a "pre-package bankruptcy." The new agreement extended the previous deadline from April 30. The latest filing indicated shareholders will have little left.

H&R Block has named William C. Cobb, a former eBay executive, as its new president and CEO who will replace Alan Bennett, who is retiring in September. Meanwhile, the company said the number of returns it prepared for the tax season was up by 6.1 percent over the 2009 tax season, as the number of online tax returns increased. However, the overall growth lagged both rival chain, Liberty Tax, and sales of Intuit's TurboTax, which both rose by 11.1 percent for the same period.