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...N.Y. Attorney Guilty in Tax Prep Fraud
- Thursday, 03 November 2016
- Tax
- Written by The Progressive Accountant
An attorney who operated a tax preparation business in the Bronx, N.Y., has pleaded guilty to charges he prepared returns that claimed more than $6 million in bogus deductions. William Doonan, 69, pleaded guilty to one count of aiding and assisting in the preparation of a false tax return.
South Carolina Liberty Franchisee Shuttered
- Thursday, 27 October 2016
- Tax
- Written by The Progressive Accountant
A federal court has ordered the owner of a Liberty Tax Service franchise in Columbia, S.C., to stop preparing federal tax returns for others. Christopher Paul Haynes, who operated three Liberty stores in the Columbia area, and was accused of filing bogus claims for the Earned Income Tax Credit and also engaging in fee gouging and using phony Preparer Tax Identification Numbers.
Former Special Agent Indicted in Alleged Tax Fraud
- Thursday, 27 October 2016
- Tax
- Written by The Progressive Accountant
An Internal Revenue Service—Criminal Investigation special agent has been indicted for filing false income tax returns. A CPA, the former agent Alena Aleykina is also accused of falsifying information to obstruct an IRS investigation of allegations she used bogus information on behalf of two trusts and destroyed evidence on a government computer.
QB Accountant Links to Online Tax
- Monday, 24 October 2016
- Tax
- Written by The Progressive Accountant
Intuit has integrated QuickBooks Online Accountant with its ProConnect Tax Online and QuickBooks Self-Employed software. The integration is another step in establishing QuickBooks Online as a platform for applications for tax and accounting firms.
IRS Tax Forum Videos Available
- Monday, 17 October 2016
- Tax
- Written by The Progressive Accountant
Videos of seminars held at 2016 IRS Nationwide Tax Forums are now available, the Internal Revenue said this week. More than a half-dozen self-study seminars are now ready for practitioners to view and earn continuing education credits from the videos filmed at the three-day events.
Return Fraud Earns CPA 15 Months
- Wednesday, 12 October 2016
- Tax
- Written by The Progressive Accountant
A CPA based in Spokane, Wash., has been sentenced to 15 months in prison for filing bogus corporate income tax returns. Roger Stadtmueller, who owned Stadtmueller & Associates, must also pay $400,000 in restitution to the Internal Revenue Service for understating income for his firm's parent company, by roughly $1.8 million for corporate returns for 2006, 2007 and 2008.
ITIN Renewals Open
- Thursday, 06 October 2016
- Tax
- Written by The Progressive Accountant
Renewals under the Individual Taxpayer Identification Number program are now being accepted by Internal Revenue Service. The IRS notes that under a 2015 law, any ITIN not used at least once in the last three years will not be valid on tax return after this year ends. The IRS also says it is providing a wider effort to educate those needing this form of identification.
Read more...Former Revenue Officer Pleads to Tax Evasion
- Wednesday, 05 October 2016
- Tax
- Written by The Progressive Accountant
A former revenue officer of the Internal Revenue Service and tax preparer has pleaded guilty to one count of tax evasion and one count of corruptly endeavoring to impede the due administration of the internal revenue. Greensboro, N.C. resident, Henti Lucian Baird, age 60, admitted he filed returns but had not paid self-assessed taxes since at least 1998 while operating his own business.
IRS Names Private Tax Collectors
- Monday, 03 October 2016
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service has selected four collectors to implement the private collection of federal taxes next spring. The program is designed to handle accounts that the IRS is not actively working for a variety of reasons, including the fact they are older or because of because of a lack agency resources.
IRS Tests Streamlining Installment Requests
- Tuesday, 27 September 2016
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service is testing expanded criteria for speeding processing of requests for installment agreements. The test is scheduled to run through Sept. 30, 2017 and will provide more taxpayers the ability to qualify for streamlined processing of requests and the changes could be made permanent based on results.
Read more...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
-