Xero has released Workpapers, based on the product of a cloud-based company it purchased last year, into the New Zealand and Australian markets. But the New Zealand-based organization isn't keeping the online workpaper product in the Southern Hemisphere. It will bring the product to the United States, although an exact date has not been announced.

Income from the tax refund business of Republic Bancorp plunged for the first quarter ended March 31. The company last year was the last bank to offer Refund Anticipation Loans. This year, it reported the loss of two retail tax chains that had been represented more than half of its refund transfer volume were factors as refund fee income dropped to just over $12 million for the most recently ended quarter, down from $71.7 million a year earlier.

A disastrous year with a rewritten tax preparation package turned out to be the last for TaxWorks, the software line marketed by RedGear Technologies. Thomson Reuters said its Tax & Accounting business has acquired select assets of the TaxWorks software line. TaxWorks customers will receive information about converting to Thomson's UltraTax software.