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...Xero Readies New Partner Program
- Wednesday, 14 September 2016
- Tax
- Written by The Progressive Accountant
Xero will roll out a new global Partner Program in November along with Xero HQ, which the web-based software company calls an open practice platform. The changes accompany the new Xero certification process and the ability to earn points by adding clients, which will give them the opportunity to grow more quickly.
Read more...Block Accounting Firm Program Ends
- Wednesday, 14 September 2016
- Tax
- Written by The Progressive Accountant
A program from H&R Block designed to provide buy accounting firms or enable them to become franchise operations has ended. And last month, Jennifer Katrulya, whose organization was an important part of the program, left Block.
Read more...Bill.com VP Joins Avalara
- Wednesday, 14 September 2016
- Tax
- Written by The Progressive Accountant
Software veteran Julie Lubetkin has joined sales tax vendor Avalara as VP of marketing, channels and partnership. Lubetkin, who joined Seattle, Wash.-based Avalara, held a position with the same title at Bill.com from 2013 through 2016.
IRS Names 16 New ETAAC Members
- Wednesday, 07 September 2016
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service has named 16 individuals to serve on Electronic Tax Administration Advisory Committee. The IRS appointed regulators, vendor representatives, consultants and members of industry associations as it reiterated its call for additional candidates for one, two and three-year terms. Applications were being accepted through September 19.
IRS Warns Tax Pros of Computer Attacks
- Friday, 02 September 2016
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service this week warned tax professionals of new attacks that allow identify these to take over their computers remotely. The IRS reported about two dozen cases in which practitioners' computers were hijacked in order to file fraudulent tax returns. No details were given on the number of any phony returns that might have been filed.
Taxify Adds Dashboard
- Thursday, 01 September 2016
- Tax
- Written by The Progressive Accountant
Taxify, which provides online sales tax applications, has added a dashboard to its system. The dashboard is designed to enable practitioners to see all of their clients—for whom they provide sales tax services—in one place, according to product marketing manager, Alex Oxford.
TaxWise Online Has New Interface
- Wednesday, 31 August 2016
- Tax
- Written by The Progressive Accountant
TaxWise Online 2016, which features a redesigned interface, has been made available in preview form by Wolters Kluwer Tax & Accounting. The company says the interface is more intuitive and provides easier navigation. The preview version also offers a bilingual TaxWise forms library, and complete calculations that can be accessed via desktop or mobile devices.
Intuit Foregoes ProTax Price Increases
Intuit has decided to avoid regular price increases for its professional tax products. As the software company increasingly links the professional tax and accounting software side of its operations, it has opted to build price increases into the accounting products instead, CEO Brad Smith said this week during the earnings webcast for Intuit's year ended July 31.
ProConnect Tax Form Imports Planned
- Wednesday, 17 August 2016
- Tax
- Written by The Progressive Accountant
Intuit is setting out its plan for importing 10 tax forms into its cloud-based ProConnect Tax Online (formerly Intuit Tax Online). The company has made import available for the 1099-INT, 1099-Div and 1098 forms. The others will be ready by the end of this year.
QB Online Tops 1.5M Subscribers
- Thursday, 11 August 2016
- Tax
- Written by The Progressive Accountant
Intuit has topped 1.5 million subscribers for its QuickBooks Online application. That number is up 25,000 from the figure reported for April 30 when Intuit's third quarter ended. The company will have subscription numbers and product sales numbers published on August 23 when it issues results for the fourth quarter ended July 30.
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