News (1984)
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Rippling Expands EOR Program 2
Rippling has expanded its Employer of Record program to eight new countries. The change is part of the latest monthly release of the office application.
With EOR, a user can establish a legal entity in a country outside the United States, giving the user the ability to hire and pay employees in other countries. The latest additions are Colombia, Costa Rica, Denmark, Israel, New Zealand, the Philippines, Switzerland and Turkey.
In addition, Rippling is providing hourly workers with a weekly break down of pay on paystubs so they can see hours worked, including overtime, for each of the weeks included in the pay period.
Users can now down payroll comparison data as a CSV file. Rippling says it has also provided more efficient time-entry CSV imports for Time an Attendance since users can automatically reconcile timestamps based on the employee’s timezone and
filter down to a specific set of imported entries and delete only those
They can also import thousands of entries in seconds, versus 30 minutes.
View items...Intuit Readies Tax Import System
Intuit's eSort scan and import system, introduced last year, has disappeared into a new product, called ProLine Tax Import, which Intuit is picturing as an evolution of eSort. However, product managers say the new offering, now offers capabilities the previous product incarnation lacked.
Regulators KO Block RAL Program
H&R Block had reached an agreement with its bank to provide refund anticipation loans for the upcoming tax season. But that agreement was wiped out by the Office of the Comptroller of the Currency which has barred HSBC from providing funding for both RALs and refund transfers. The decision gives Block's competitors Jackson Hewitt and Liberty Tax a big advantage in the upcoming tax season as both will be offering refund loans.
Paychex Mulls SurePayroll for CPA Channel
- Tuesday, 21 December 2010
- News
- Written by The Progressive Accountant
Paychex, which plans to keep SurePayroll operating as a separately entity, is looking at incorporating the payroll package in its CPA program once the purchase of the online payroll company is complete. Moreover, Paychex sees SurePayroll as the vehicle for reaching do-it-yourselfers who use pen or pencil to handle payroll filings, according to CEO Martin Mucci. Mucci also noted that SurePayroll will get a bigger push as Paychex ramps up marketing overall.
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Paychex Net Rises by 6 Percent
- Tuesday, 21 December 2010
- News
- Written by The Progressive Accountant
Paychex reported a 6-percent increase in net income on 3-percent increase in net income for the second quarter ended November 30. Those results were a factor in the company's outlook for the current fiscal year with Paychex anticipating payroll services revenue will rise by 1 percent to 2 percent and human resource services revenue by 10 percent to 13 percent.
SEC Suspends California Audit Partner
Dean Yamagata, the audit partner of a prominent California CPA firm, has been suspended from practice before the SEC after that body found he accepted representations by management of a company that incorrectly recognized millions of dollars in revenue even after the firm found, in a 2004 audit, that it couldn't rely on the client's internal control. The SEC censured Moore Stephens Wurth Frazer & Torbet, which was more recently part of Frazer Frost, over the audit.The firm and Yamagata must disgorge $100,000 of audit fees and pay $29,500 in pre-judgment interest.
Read more...AICPA: Tax Bill to Spur Financial Planning
Gift and estate tax provisions in the newly signed tax bill are expected to trigger a wave of wealth transfers during the next two years as the wealthy adjust their financial planning strategies, according to Lisa Featherngill, who chairs the American Institute of CPAs' committee for the Personal Financial Specialist credential. She attributed that to an increase in lifetime limits on giving.
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Republic Dropping Top RALs to $1,500
Republic Bank expects that during the upcoming tax season it will reduce the amount of money available for refund anticipation loans by 50 percent or more while the maximum amount of individual RALs will fall to $1,500. It also said it is shifting much of its RAL funding to the troubled Jackson Hewitt Tax Service. Republic filed a statement about its program with the SEC the same day that Jackson Hewitt filed documents in which it said it would offer RALs about 4,200 locations.
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Lenders Shorten Jackson Hewitt's Leash
Lenders let Jackson Hewitt Tax Service off the hook from a requirement that the tax preparation company have coverage for all expected refund loan demand for the upcoming tax season. And Jackson Hewitt now believes it can meet 90 percent of the expected demand Refund Anticipation Loans at roughly 4,200 locations. However, the banks tightened their oversight of the chain's operations, imposing spending limits and controls over the company's bonus programs, along with requiring more frequent and wide-ranging reports about its financial status.
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Intuit Intros Online Practice Management
Intuit has introduced a free beta version of an Internet-based practice management system that the company says will tie together client management, engagement management and time and billing. The beta program will run through tax season with the company planning to have determined the product's price by the time of the full launch on May 1.
PCAOB Censures E&Y Manager
- Tuesday, 14 December 2010
- News
- Written by The Progressive Accountant
The Public Company Accounting Oversight Board has censured CPA Jacqueline Higgins for backdating audit documents in March, allegedly at the direction of a senior manager and the engagement partner at Ernst & Young's Boston office. The actions were reportedly taken in preparation for a PCAOB inspection despite the fact all three had receive a communication from the firm not to change any records.
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