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News

News (1882)

The Progressive Accountant is the leading online communit of public tax and accounting professionals focused on using technology to better manage and grow their practice.

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IRS Suspends Balance Due Notices

The Internal Revenue Service has suspended the mailing of balance due and unfiled tax return notices.  These were among more than a dozen letters the IRS added to its list of suspended notices.

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Acquired Units to Enhance SmartVault

GetBusy will roll out features from two companies acquired in October as enhancements to the SmartVault document managed application.

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ADP Performance Strengthens 

Business for Automatic Data Processing continued to strengthen during the second quarter ended December 31. The payroll services company rteported a 7.2-percent increase in net income on a 9-percent rise in revenue.

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CertiFi Buys Spidell Publishing

 Spidell Publishing which markets educational services for the California tax market, has been acquired by CertiFi, a Leeds Equity Partners portfolio company. Terms were not disclosed.

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Three Payroll Companies Merge

Integrated Payroll Systems and LinkHCM have merged with Inova Payroll. The deal was described as expanding Inova’s operation and service centers to California and Missouri.

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Virginian Loses CPA, Law Licenses

A man who ended up with $1.5 million in funds from a bankrupt title insurance company has surrendered his law and CPA licenses Robert Bailey Smith IV, who paid pay the funds, drew no jail time in the case, but agreed to surrender his credentials.

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CBIZ Buys Marks Paneth

Publicly held CBIZ has purchased Top 50 accounting firm Mark Paneth in a deal that significantly increases its size. By itself, the acquired operations are 15.5 percent of CBIZ’s revenue for 2020.

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Iris Buys AccountantsWorld

The Iris Software Group has acquired AccountantsWorld, a pioneering cloud software company in the practice management space. It the latest in a series of deals through which Iris has snapped up practice and document management companies, along with payroll and HR Vendors.

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Preparer Must Pay $1.1 Million

A Gary, Ind.-based tax preparer, who prevously went to prison for tax fruad, has been sentenced to 39 months in prison in a second case. Dorian L. Hall, 47, must also repay $1,053,549.95 in restitution to the Internal Revenue Service.

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Canopy Snares $35M in Funding

Canopy, which markets practice management software, has raised $35 million in a Series BB round of funding. The company says the funding will be used to accelerate its business. 

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