News (1877)
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Preparer Gets Prison in $2.3M PPP Fraud
A South Florida tax preparer has been sentenced this week to two years for his role in seeking more than $2.3 million in Payroll Protection Program Funds. Leonel Rivero, 35 submitted more than 118 fraudulent PPP loan applications.
Xero Subs Rise 22.1% in North America
Xero saw subscriptions for its cloud accounting products r0se by 22.1 percent for the first half ended September 30. The New Zealand-based company also talked broadly of plans to expand on this continent in its recent earnings report.
Black, Latino Biz Performed Well
Black and Latino owned businesses had a good 12 months despite the pandemic, according to a recently released Ernst & Young survey. However, the Entrepreneur’s Paradox: How Black and Latino Entrepreneurs Are Balancing Growth and Uncertainty says those entrepreneurs fear the unprecedented performance may stem from a short-term boost in attention.
CCH Axcess Workflow Debuts
Wolters Kluwer Tax & Accounting has introduced CCH Axcess Workflow. The browser-based application integrates with the CCH Axcess Common Database and the Tax and Document applications in the suite,
Botkeeper Raises $42M from Paychex Founder
Botkeeper, which provides bookkeeping software utilizing artificial intelligence, has raised $42 million in Series C funding. The round was led by Grand Oaks Capital, which was founded by Tom Golisano, founder and chairman of Paychex.
CCH Axcess Cited in WK Results
CCH Axcess had strong organic growth during the nine months ended September 30, Wolters Kluwer said this week. The company said in a trading update that Tax & Accounting North America had 5-percent organic growth.
Audit, LATAM, Drive Thomson Tax/Acc’ting
Audit products and the Latin American business drove Thomson Reuters’ Tax & Accounting to a 6-percent increase for the third quarter ended September 30.The company said this week that overall revenue also grew by 6 percent.
Firms Strong in NetSuite Awards
Accounting firms fared well in awards made recently by Oracle NetSuite. RSM US, Eide Bailly and Sikich took home honors and the first two firms continuing their winnings streaks.
CCH Axcess Marketplace Debuts
Wolters Kluwer Tax & Accounting has launched CCH Axcess Markeplace. The web site is designed to help firms find applications that integrate with the Axcess suite.
ADP: Employees Returning to Work
Employees are returning to the workplace, which represents an opportunity for Automatic Data Processing, CEO Carlos Rodriguez said during a recent earnings webcast. for the first quarter ended. Those comments came as ADP reported a 16.3-prercent rising in ent income on a 10-4percent increase in earnings for the first quarter ended September 30.
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