The Progressive Accountant - Tax (1550)
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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 Seeks ETAAC Members
- Friday, 05 February 2010
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service is accepting applications to fill vacancies on the Electronic Tax Administration Advisory Committee, which provides feedback on the policies, programs and procedures of electronic tax administration. Resumes should be submitted and applications submitted by March 15. Members cannot be federally registered lobbyists. Read more...
Intuit Extends Intro Pricing for Online Pro Tax App
- Tuesday, 02 February 2010
- Tax
- Written by The Progressive Accountant
Intuit has extended an introductory price for its first Internet-based professional tax preparation program through tax season. The company said the $9.95 per return price for ProLine Tax Online is being extended because of what it called an “overwhelmingly positive response.” Full pricing is $19.95 per return.
- Verizon Wireless
- Fuze Meeting
- Videoconferencing
- Verizon Communications
- High-definition video
- 3GPP Long Term Evolution
- Services
- Business
- Verizon Wireless
- Fuze Meeting
- Videoconferencing
- Verizon Communications
- High-definition video
- 3GPP Long Term Evolution
- Services
- Business
- individual
- federal
- state
- 1040
- tax return
- Intuit
- Lacerte
- ProSeries
- ProLine
IRS Switches Processing Centers for Nine States
- Monday, 01 February 2010
- Tax
- Written by The Progressive Accountant
Taxpayers in six states and the Washington D.C. will have to send paper income tax returns to different process centers this year, the Internal Revenue Service has announced. Taxpayers in Washington D.C. and the states of Maine, Maryland, Massachusetts, New Hampshire, Vermont, Virginia, will now send returns to the center in Kansas City, Mo. Read more...
Block Details RAL Financing
- Tuesday, 19 January 2010
- Tax
- Written by The Progressive Accountant
While other tax companies sought outside funding for their tax-season bank products, H&R Block has entered a financing program with its subsidiary Block Financial. Block Financial, which has been financing refund loans and other products since July 1, 2006, has agreed to provide a $2.5 billion HSBC RAL Participation Credit Facility during tax season.
Jackson Hewitt Lacks Funds for Full RAL Program
PARSIPPANY, N.J. - Jackson Hewitt Tax Services has reported it doesn't have a contract with a bank to provide capital for its full refund anticipation loan program and won't have a program in place when tax season begins next week. Intuit also said it was possible that all ProSeries customers who want RALs won't be able to get them.
Young Taxpayers Go Online
- Monday, 11 January 2010
- Tax
- Written by The Progressive Accountant
RIVERWOODS, Ill. – Young taxpayers are the group most likely to use online tax preparation, according to a survey of more than 1,000 responders conducted for CompleteTax, CCH's Internet-based application for do-it-yourself taxpayers. The survey also found that 11 percent of those surveyed will use online applications, edging out 10 percent who will use packaged software this year. Sixty-percent will use a paid preparer.
Read more...
Intuit Intros Lacerte, Pro Series Software Certifications
- Friday, 08 January 2010
- Tax
- Written by The Progressive Accountant
Intuit has introduced certifications for users of its Pro Series and Lacerte tax preparation software that the company says would help both those seeking jobs and those hiring them. Users can qualify for the certification by receiving free training from Intuit and purchasing a certification examination.
Read more...
Taxpayer Advocate Wants Nonsigning Preparers Regulated
- Wednesday, 06 January 2010
- Tax
- Written by The Progressive Accountant
WASHINGTON -Although praising the Internal Revenue Service for its proposal to regulate income tax preparers, National Taxpayer Advocate Nina E. Olson is concerned that unenrolled preparers, who prepare returns but don't sign them, aren't covered by the proposed rules and that this could create a giant loophole.
Jackson Hewitt Launches Online Tax Prep
- Tuesday, 05 January 2010
- Tax
- Written by The Progressive Accountant
PARSIPPANY, N.J., - Jackson Hewitt Tax Service has joined the online preparation competition with a product called Jackson Hewitt Online that is designed for do-it-yourself files which provides free preparation and efiling of simple 1040s, with pricing for other individual returns based on complexity. However, the company is charging $28.95 each for filing state returns.Read more...
Santa Barbara Forced Out of RAL Program
- Monday, 28 December 2009
- Tax
- Written by The Progressive Accountant
PARSIPPANY, N.J. - Jackson Hewitt Tax Service was notified last week that regulators have forced Santa Barbara Bank & Trust out of its refund anticipation program. Santa Barbara had been expected to provide about 75 percent of funds for financial products during the upcoming tax season.
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