Tax (1572)
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
Block Sues Intuit: Pros Not Plumbers
- Monday, 28 January 2013
- Tax
- Written by The Progressive Accountant
Three units of H&R Block have filed suit in Missouri federal court alleging that Intuit's TurboTax advertisements infringe on the tax services company's trademark and create a misleading impression of Block's services. The suit was brought by H&R Block Eastern Services Inc., HRB Innovations Inc. and H&R Block Enterprises LLC.
Read more...
IRS Asks to Lift Injunction; Preparers Wonder
The Internal Revenue Service and Justice Department are asking for an injunction against tax preparation regulations to be lifted and plan to appeal the ruling of a judge who granted the move. In the meantime, preparers who have become Registered Tax Return Preparers are wondering what is going to happen with the money they paid to register under the program.
TaxWorks Problem Linger
TaxWorks is continuing to draw user complaints about the problems plaguing the rewrite of the company's tax preparation software. And in one post on a Facebook page, on employee acknowledge that TaxWorks has had "a tough start" to this filing season.
Read more...
Judge Tosses IRS Preparer Regulation
- Tuesday, 22 January 2013
- Tax
- Written by The Progressive Accountant
A federal judge has permanently blocked the Internal Revenue Service from regulating tax return preparers. The decision by a U.S. District Court for the District of Columbia granted a permanent injunction that would halt the IRS program whose major requirements primarily affect non-credentialed preparers. In response, the IRS immediately stopped enforcing the rules.
Read more...
Tax Season 2013: Delays, But No Disaster
The country did not plunge over the fiscal cliff, at least not in January. And processing to tax returns will start later than planned. But tax software vendors and the Internal Revenue Service did not wait for the outcome - they placed bets on which expiring tax credits would be extended.
Read more...
Las Vegas Instant Tax Draws Ban
- Monday, 31 December 2012
- Tax
- Written by The Progressive Accountant
The co-owners of the Instant Tax Service franchise in Las Vegas have agreed to an injunction that would bar one from preparing federal tax returns for others and enjoin the other from violating federal tax and consumer protection laws. Benyam Tewolde drew the ban on preparing taxes, while his wife, Yordanos Kidanits, agreed not to violate the laws.
Read more...
U.S. Seeks to Bar Brother Tax Preparers
- Monday, 24 December 2012
- Tax
- Written by The Progressive Accountant
The Department of Justice has asked a federal court in Atlanta to prohibit two brothers from preparing federal tax returns for others. The department seeks an injunction against Larry J. Heath and his brother Andrew R. Heath, who operate separate businesses, saying the two may have cost the United States more than $100 million.
Read more...
CPA Sued in Alleged Sham Trust Scheme
- Wednesday, 12 December 2012
- Tax
- Written by The Progressive Accountant
Drake Launches Online Tax Package
- Monday, 10 December 2012
- Tax
- Written by The Progressive Accountant
Drake Software has introduce Drake Zero, an Internet-based tax preparation application, which offers multi-site licensing and pay-as-you-go return preparation. Each return includes as many state returns as needed, as well as e-filing and printing.
Justice Seeks to Shut Down Early Bird Preparer
- Wednesday, 05 December 2012
- Tax
- Written by The Progressive Accountant
The Department of Justice has asked a federal court to shut down a tax office in Nashville, Tenn., that allegedly prepared returns before tax season started. An injunction is being sought against Mo' Money Taxes licensee Toney Fields and co-defendant, Trumekia Shaw, who allegedly prepared tax returns based on pay stubs. It was only the latest in a string of problems and allegations surrounding the Mo Money tax preparation chain.
Most Read
-
-
Mar 05 2026
-
Written by The Progressive Accountant
Learn about the latest trends in accounting technology, including automation,…
-
-
-
Jan 04 2026
-
Written by The Progressive Accountant
Emergent trends in tax compliance and preparation reveal the increasing…
-
-
-
Mar 05 2026
-
Written by The Progressive Accountant
Explore how accounting firms are leveraging hybrid work models to…
-
-
-
Jan 04 2026
-
Written by The Progressive Accountant
Explore how recent regulatory changes in the U.S. auditing landscape…
-