The Progressive Accountant - Tax (1550)
Children categories
Tax 1537
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 Takes Anti-ID Theft Program National
- Monday, 01 April 2013
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service has expanded a program aimed at curtailing identity theft from nine states to the entire country. The program is designed to help law enforcement officials obtain tax return data needed in investigating and prosecuting specific cases of Identity theft.
Software Glitches: Some Fixed, Some Not
In a season that has had more than its share of problems with tax software, many problems have been fixed. For example, the state of Minnesota now says that its residents to use Intuit tax applications to prepare and file their taxes. And for TaxWorks, whose rewrite of its application for the 2012 tax year had been extremely troubled, the worst appears to be behind it.
Intuit Says TurboTax Gained Share
Intuit says it is gaining share at the expense of retail stores as the company reported returns for the tax season from January 30 through March 16. The Mountain View, Calif.-based company said for the period, sales of TurboTax Online Units were up 29 percent over the prior year with total TurboTax federal units up 26 percent for the period.
Drake Offers Site on Care Act
- Tuesday, 26 March 2013
- Tax
- Written by The Progressive Accountant
Drake Software has opened a website to provide information about the Affordable Care Act's tax implications from a layman's point of view. Located at http://www.acacalculators.com, the site offers Frequently Asked Questions and free penalty and credit calculators. The site links to resources at the White House, the US Department of Labor, the IRS, the Medicaid website and the "Health Care and You" website.
CCH Sold CompleteTax to Liberty
- Thursday, 14 March 2013
- Tax
- Written by The Progressive Accountant
CCH has gotten out of the consumer tax software with the sale of its CompleteTax product to franchisor Liberty Tax Service. The change was effective in December when the product, once known as CompleteTax, went on the market as eSmart Tax by Liberty Tax. The companies have had a relationship regarding tax software since Liberty contracted to use CCH software while it prepared its next generation product.
Tax Glitch to Stall 660K Federal Returns
- Wednesday, 13 March 2013
- Tax
- Written by The Progressive Accountant
First Intuit, now Block? The Internal Revenue Service says a glitch in which it called a "limited number of software company products" affected about 660,000 returns that claimed educational credits. The problem could delay refunds by as much as six weeks. And while the IRS did not identify which software was involved, H&R Block has been informing customers about problems with Form 8863.
Judge Nixes Block Bid to Ban Intuit Ads
- Tuesday, 12 March 2013
- Tax
- Written by The Progressive Accountant
A federal court has refused to grant a preliminary injunction that would halt airing of some Intuit television ads. The decision was issued by the U.S. District Court for Western Missouri regarding the action filed by H&R Block. The tax services chain alleged unlawful misuse of the H&R Block brand and trademark along with unfair disparagement of its tax professionals in TurboTax ads.
IRS Disbars EA for Theft
- Monday, 11 March 2013
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service his disbarred a Seattle, Wash.-area Enrolled Agent for stealing a client's tax payments and preparing returns with phony deductions for several clients. The Office of Professional Responsibility revoked the EA status of Lorna M. Walker and barred her from preparing federal tax returns for at least five years in a default judgment.
ATX, TaxWorks Woes Continue for Some
- Tuesday, 05 March 2013
- Tax
- Written by The Progressive Accountant

In a season plagued by serious software issues, the situation has apparently improved for some who purchased the rewritten TaxWorks application. But for those suffering the woes of ATX from CCH Small Firm Services, there are fewer indications that things have gotten much better. Among both groups there are still reports of serious performance problems, clogged or unhelpful tech support and those who have abandoned their initial software to be able to conduct business for tax season.
Read more...Detroit Preparer Indicted for False Returns
- Monday, 04 March 2013
- Tax
- Written by The Progressive Accountant
A Detroit, Mich.-based tax preparer, who failed to file returns for his own taxes for seven years, has been indicted on charges he also filed false returns for others. Arrested on a portion of the charges on January 10, Matthew Bender faces a superseding indictment that charges him with 16 counts of assisting in the presentation of false tax returns to the Internal Revenue Service along with one count of corruptly endeavoring to obstruct the due administration of the Internal Revenue laws.
Most Read
-
-
May 05 2025
-
Written by The Progressive Accountant
-
-
-
Jan 26 2025
-
Written by The Progressive Accountant
-
-
-
Feb 02 2025
-
Written by The Progressive Accountant
-
-
-
Feb 09 2025
-
Written by The Progressive Accountant
-