The Progressive Accountant - Tax (1560)
Children categories
Tax 1547
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 Advises VPN Use
The Internal Revenue Service and its Security Summit partners is recommending tax professionals who work remotely should utilize a Virtual Private Network. That recommendation came this week as the IRS reported an upswing in data theft from criminals trying to take advantage of COVID-19 and Economic Impact Payments.
Professional Efiles Fall Sharply
Efiled tax returns submitted by professional preparers fell significantly behind the year ago totals in the latest tax season results. Figures from the Internal Revenue Service this week for the season through March 3 show the number of professional filed returns were 11.5 percent behind the total for last year’s season through March 5.
IRS Extends Tax Deadlines
The Internal Revenue Service has extended all tax deadlines through July 15. The action followed increasingly urgent requests for the IRS to match the extension of individual income taxes to the same date.
AICPA: CPA Job Nearly Impossible
The American Institute of CPAs has raised the level of urgency on the need for extensions for all filing and payment dates. A later dated April 7 from Barry Melancon, the Institute’s. CEO to Treasury Secretary Steve Mnuchin sounds a more serious alarm than a March 26 letter from the AICPA on the same subject.
Short Int'l Stays Don't Change Tax Status
International tax authorities are telling companies that if employees or directors are stuck in another country becuase of COVID-19-related issues their businesses are not automatically taxable. The guidance was issued in the United Kingdom, Republic of Ireland, Australia and the islands of Jersey and Guernsey.
AICPA Wants More Tax Relief
The Internal Revenue Service should develop a plan for the next phase of tax relief, according to the American Institute of CPAs. The AICPA outlined suggested issues in a March 26 letter to the IRS.
Crisis Hits Tax Season Totals
The statistics for the 2020 filing season had been catching up with 2019. That ended with the report for the season through March 27, compared to 2019 through March 29.
IRS Warns of Virus-related Scams
- Thursday, 02 April 2020
- The Progressive Accountant - Tax
- Written by Bob Scott
The Internal Revenue Service is warning about a surge of calls and email phishing attempts related to the Coronavirus, or COVID-19 and taxpayer economic payments. This comes as electronic threats appear to be reaching record levels.
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.
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
-
-
Jun 29 2025
-
Written by The Progressive Accountant
Explore the latest shifts in U.S. accounting standards led by…
-
-
-
Jun 15 2025
-
Written by The Progressive Accountant
Discover how remote auditing is reshaping CPA firms' operations. Learn…
-
-
-
Jun 15 2025
-
Written by The Progressive Accountant
Explore the critical importance of strategic planning for modern accounting…
-
-
-
Jun 22 2025
-
Written by The Progressive Accountant
Discover the strategic advantages of adopting remote work in modern…
-