The Progressive Accountant - Tax (1551)
Children categories
Tax 1538
The assets of NextPoint Financial, parent of chain Liberty Tax, have been sold after approval by a Canadian Court and under Chapter 15 bankruptcy in the United States.
Liberty and Canadian Community Tax will continue to operate under the ownership of BP Commercial Funding Trust, Series SPL-X
The action was spurred by NextPoint’s disastrous acquisition of LoanMe, which was supposed to be operated in tandem with Liberty as a one-stop consumer operation. NextPoint purchased both LoanMe and Liberty in 2021 but shuttered LoanMe for new loans in July 2023. NextPoint sued AmeriFirst Home Improvement Finance seeking millions of dollars in damage for the alleged failure of AmeriFirst to live up to the terms of a loan servicing contract.
LoanMe, which had continued to service existing loans, will be wound down. NextPoint’s announcement said there would be no assets to distribute to creditors
View items...IRS Guides on CAMT
The Internal Revenue Service has provided interim guidance for insurance companies and certain other taxpayers for the new corporate alternative minimum tax.
Filed Returns Rise 9.1 Percent
The number of tax returns received through February 10 rose by 9.1 percent over those filed through Feb. 11, 2022, the Internal Revenue Service said this week.
IRS Adds Nine Uploadable Docs
The Internal Revenue Service is giving taxpayers the ability to upload information related to nine notices. The IRS said this week it will eventually add dozens of notices to the list in which information can be uploaded through IRS.gov via the Documentation Upload Tool.
IRS Clarifies State Payments
The Internal Revenue Service has determined taxpayers will not need to report special payments made by 21 states on their 2022 tax returns. The initial IRS statement on the issue this month had left many confused.
IRS: Returns Rise 13.5 percent
The Internal Revenue Service reported the number of individual income tax returns received for its first report of the season were up 13.5 percent. The period covered ended February 3, compared to the comparable period ended Feb. 4, 2022.
Amended Returns Get Direct Deposit
Taxpayers filing Form 1040-X for amended income tax returns can now have refunds directly deposited. The Internal Revenue Service announced the capability this week
Preparer Sentenced to Three Years
Florida tax preparer Thomas Johnson has been sentenced to three years in prison for his role in preparing more than 1,000 fraudulent returns. Johnson has also been ordered to pay $1,688,931.90 to the Internal Revenue Service.
New Tip Reporting Proposed
A new service industry tip reporting program has been proposed by the Internal Revenue Service. The voluntary Service Industry Tip Compliance Agreement program is contained in a proposed revenue procedure.
IRS Considers Taxes on State Payments
The Internal Revenue Service is working with states to clarify of questions involving special tax refunds or payments made by states in 2022. It hopes to provide clarify for as many states as possible this week.
IRS Opens 1099 Portal
An online portal has been established for the filing Form 1099 series information returns. The Internal Revenue Service has opened the Information Returns Intake System (IRIS), for free electronic filing of the forms.
Sales Tax Assessment Tool
The Accounting Top 100
Sales Tax Calculator
Social Leader board
The Accounting Top 100 social media leaderboard ranks accounting professionals based on their overall presence, influence, and engagement on social media platforms. Each user’s rank is determined by that user’s Klout Score in addition to a list of custom metrics, and all updated rankings are displayed in new leaderboards generated every two weeks.
Did you make the list?
Congratulations! You can now track your progress on the leaderboard by clicking “Follow us” at the top of the list. Want to get the word out about your new celebrity status? Share this page with all of your friends and followers so they can view and join in on this fun social activity.
Think you’ve got what it takes to make the Top 100?
Disclaimer
Avalara’s Accounting Top 100 leaderboard (the “Leaderboard”) is assembled using a list of accounting professional users that’s curated by manual entry as well as by Rise.Global's internal Twitter search functionality. We reserve the right to change scoring metrics used for ranking and to exclude anyone from the list, in our sole discretion. The Leaderboard is not an endorsement, recommendation or sponsorship of any of the accounting professionals on the Leaderboard, and we do not make any representation or guarantee of their ability or reliability. Assessments by different methods or based on different information may yield different results. The Leaderboard is only a starting point to gather information about accounting professionals, and you should not rely on it to decide whether to hire an accounting professional.
For feedback and/or questions please contact [email protected]
.
Most Read
-
-
May 05 2025
-
Written by The Progressive Accountant
In celebration of National Small Business Week, ADP recently gathered…
-
-
-
Apr 01 2025
-
Written by The Progressive Accountant
Explore how ESG reporting is transforming the auditing landscape, driven…
-
-
-
Apr 01 2025
-
Written by The Progressive Accountant
Explore how AI is revolutionizing tax consulting amidst recent regulatory…
-
-
-
Mar 02 2025
-
Written by The Progressive Accountant
Explore the latest developments in accounting standards, focusing on FASB's…
-