The Tax & Accounting business of Thomson Reuters turned in a strong performance for the first quarter ended March 31.The unit had a 9.5- percent rise in operating earnings on a 6-percent increase in revenue. The growth in revenue was led by a 14-percent increase in income from corporate tax sales over the year-ago quarter. Read more...

CCH Small Firm Services has joined with eFileCabinet to create a portal that integrates with its ATX and TaxWise tax preparation products. Developed by eFileCabinet, the new product, PortalSafe is owned and sold by the CCH organization. PortalSafe, is designed for the needs of the small accounting firms that use the tax products, according to Kerri Gibson, director of product management for SFS.

A CPA formerly based in Los Angeles has been sentenced to 24 months in prison after pleading guilty to conspiracy to defraud the United States. Masood Chotani also drew one year of supervised release in addition to prison time after admitting he used the names and Social Security numbers of deceased individuals to file tax returns with the Internal Revenue Service. Chotani was arrested after being a fugitive for three years in Pakistan.