Tax (1521)

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

The Rising Wave of Digital Taxation in the US

Explore the rising wave of digital taxation in the US, examining how tax authorities are adapting policies for the digital economy and its impact on the accounting industry.

Read more...

Tax Implications of Remote Work: Navigating the Shifting Landscape

Explore the tax implications of remote work and the essential considerations for accounting professionals. Learn how state income taxes, home office deductions, and proactive tax planning evolve with the remote work trend.

Read more...

The Impact of the Recent IRS Guidance on Cryptocurrency Taxation

Discover the latest IRS guidance on cryptocurrency taxation, its impact on digital assets management, and implications for modern accounting practices.

Read more...

Navigating Complexities: The Latest Trends in U.S. Corporate Tax Compliance

Explore the latest trends in U.S. corporate tax compliance, including technological integration, ESG considerations, and the global minimum tax initiative affecting multinational corporations.

Read more...

Major Changes in 2023: Navigating the Latest Tax Code Updates

Explore the major changes in the 2023 tax code and how these updates affect tax professionals in optimizing compliance and financial strategies.

Read more...

Navigating the 2023 Tax Season: Key Insights for Accountants

Explore key insights for accountants amid the 2023 tax season, including digital transformation, tax credits, and global compliance.

Read more...

Navigating the Waves: Key Tax Trends Every Accountant Should Embrace

Explore the top tax trends for accountants, including AI adoption, shifting regulations, and the rise of sustainability-focused tax policies.

Read more...

Tax Year 2024: Essential Tax Planning Strategies for Accountants

Explore essential tax planning strategies for the 2024 tax year. Stay ahead with updated tax laws, retirement planning, tax-efficient investments, and more.

Read more...

How AI is Revolutionizing Tax Preparation for Accounting Firms

Discover how AI is transforming tax preparation for accounting firms by enhancing efficiency, accuracy, and compliance, ultimately allowing accountants to focus on strategic planning.

Read more...

Pro Took $1.1M From Clients

A suburban Chicago tax preprarer has admitted taking more than $1.1 million from ten clients who gave him the money to pay federal and state tax bills.

Read more...

Visit other PMG Sites:

Template Settings

Color

For each color, the params below will give default values
Tomato Green Blue Cyan Dark_Red Dark_Blue

Body

Background Color
Text Color

Header

Background Color

Footer

Select menu
Google Font
Body Font-size
Body Font-family
Direction