Cloud-based accounting software vendor Wave has signed an agreement to provide business loans and lines of credit through OnDeck. Under the name "Lending by Wave" the program will be available to Wave customers in the United States and Canada.

Semere Tsehaye, who owned at last 20 Instant Tax Service stores in three states, has been sentenced to 27 months in prison. Tsehaye, age 39, was convicted on two counts of tax evasion in October for understating income from two tax businesses that operated his ITS locations.

Tax season slumped in its initial period as the total number returns filed for the week ended February 3 plunged by 24.3 percent compared to the week ended February 5 a year ago. Numbers dropped for self-prepared returns by 20.8 percent received but were down 29.2 percent for those filed by tax professionals.