The Progressive Accountant - Tax (1552)
Children categories
Tax 1539
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...Block: No Tax Updates Until End
H&R Block says it will not provide updates on filings through its system for this tax season until it releases Fiscal 2020 results in June. The tax services company noted that with about one-third of a typical season completed for its Assisted and DIY offerings, it is difficult to predict changes in taxpayer behavior.
Do-It-Yourself Returns Surge
The number of tax returns filed with the Internal Revenue Service continues to be ahead of the 2019 season. But the story for the season through March 22 was that self-prepared efiled returns were 3.6 percent higher than or the corresponding period ending March 20, 2019.
IRS Suspends Installments, Seizures
The Internal Revenue Service has suspended Installment Agreements with payments due between April 1 and July 15. The agency said taxpayers unable to comply with terms of an Installment Payment Agreement, including a Direct Deposit Installment Agreement, may suspend payments due in that period.
Florida Preparer Faces 59 Counts
A Jacksonville, Fla.-based tax preparer faces 59 counts that stem from alleged tax return fraud over a four-year period. The preparer, Kenyan Shondre Scott, has been indicted on 55 counts of aiding and assisting others with the filing of false tax returns and four counts of filing false tax returns on his own behalf.
Tax Season Normal—So Far
The number of returns received by the Internal Revenue Service is falling into a normal range. The agency reported that returns received through March 8 were up .1 percent over the 2019 season ended March 6.
House to IRS: Delay Filing Deadline?
The House Ways and Means Committee wants the Internal Revenue Service to say if the April 15 tax filing deadline should be extended. The committee this week sent the IRS the letter asking about a possible extension because of the coronavirus outbreak.
Credits and Incentives Portfolio Available
Bloomberg Tax & Accounting has made available a new Tax Management Portfolio—Credits and Incentives: Multistate Considerations and Planning. The recently released treatise details state and federal tax credits and incentives.
Tax Season Creeps Upward
Results for the current tax season for the period ended February 28 edged up from the week ended February 21. Total returns were up .1 percent from the comparable period ended March 1, 2019 and better than the .1 percent drop from this year’s prior report.
Bloomberg Issues Tax Season Watch
Bloomberg Tax & Accounting has released Tax Season Watch this week. The product offers content and analysis related to federal and state issues developed for the 2019 tax year.
TurboTax Live Helps Intuit Grow Share
Intuit has grown market share in consumer tax preparation in the current tax season, the company said this week. And CEO Sasan Goodarzi said TurboTax Live, via which consumers can get advice from tax professionals, is a factor.
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…
-
-
-
Apr 01 2025
-
Written by The Progressive Accountant
Explore the growing importance of ESG reporting within US firms…
-