Rod Drury, CEO of cloud software vendor Xero, plans to sell 3 million shares in the New Zealand-based company. The deal is pending at $31.50 per share (New Zealand) and worth about $65 million.

Lack of funds remain a critical issue for the Internal Revenue Service, according to the annual report of the Internal Revenue Service Advisory Council. The conclusions concentrates on the impact of the highly publicized budget cuts for the agency, which the council says amount to about $1 billion since fiscal 2010.

Thomson Reuters has integrated its Accounting CS Payroll with SwipeClock. SwipeClock provides, cloud-based time and attendance products with the integration able to deliver an array of punch data automatically to the payroll package for processing.