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
Intuit Intros Lacerte, Pro Series Software Certifications
- Friday, 08 January 2010
- Tax
- Written by The Progressive Accountant
Intuit has introduced certifications for users of its Pro Series and Lacerte tax preparation software that the company says would help both those seeking jobs and those hiring them. Users can qualify for the certification by receiving free training from Intuit and purchasing a certification examination.
Read more...
Taxpayer Advocate Wants Nonsigning Preparers Regulated
- Wednesday, 06 January 2010
- Tax
- Written by The Progressive Accountant
WASHINGTON -Although praising the Internal Revenue Service for its proposal to regulate income tax preparers, National Taxpayer Advocate Nina E. Olson is concerned that unenrolled preparers, who prepare returns but don't sign them, aren't covered by the proposed rules and that this could create a giant loophole.
Jackson Hewitt Launches Online Tax Prep
- Tuesday, 05 January 2010
- Tax
- Written by The Progressive Accountant
PARSIPPANY, N.J., - Jackson Hewitt Tax Service has joined the online preparation competition with a product called Jackson Hewitt Online that is designed for do-it-yourself files which provides free preparation and efiling of simple 1040s, with pricing for other individual returns based on complexity. However, the company is charging $28.95 each for filing state returns.Read more...
Santa Barbara Forced Out of RAL Program
- Monday, 28 December 2009
- Tax
- Written by The Progressive Accountant
PARSIPPANY, N.J. - Jackson Hewitt Tax Service was notified last week that regulators have forced Santa Barbara Bank & Trust out of its refund anticipation program. Santa Barbara had been expected to provide about 75 percent of funds for financial products during the upcoming tax season.
Intuit Does Steep Discount on Add Ons
- Monday, 14 December 2009
- Tax
- Written by The Progressive Accountant
Intuit is offering sharply discounted pricing on add-ons for its Lacerte and ProSeries tax users under a promotion that expires on January 31. It's the first time Intuit has used this particular approach in promotional pricing, which is available only to first-time customers of each add-on purchased.
Block Revamps Professional Review Program
H&R Block has rebuilt a program that gave taxpayers the opportunity to have their returns prepared online and reviewed by a tax professional and relaunched it as "Best of Both." As described by Sabrina Wiewel, the tax preparation company's chief tax network officer, it's a much different program than the one Block offered during the 2009 tax season.
Jackson Hewitt Grows at Wal-Mart; Moving into Online Preparation
Jackson Hewitt Tax Services reported it will open more of its retail tax stores than expected at Wal-Marts in time for the upcoming tax season. The company said it expects to be open in 1,800 to 1,900 Wal-Mart stores early next year. About 85 percent will be operated by francisees and the rest will be company owned. Jackson Hewitt also said it will launch its first online tax preparation software during tax season.
Intuit Offers Free Research Trial
- Tuesday, 08 December 2009
- Tax
- Written by The Progressive Accountant
Intuit is offering users of its Lacerte and Pro Series tax preparation software a free seven-day trial of the company's new ProLine Tax Research. The trial is available to users by opening their tax software and downloading an update, which adds a tab to the software "Tax Research Powered by BNA".
IRS Extends Tip Program
- Tuesday, 01 December 2009
- Tax
- Written by The Progressive Accountant
WASHINGTON — The Internal Revenue Service has extended a program that simplifies the recordkeeping burden for reporting tip income in the food and beverage industry for two more years.
Read more...Biz Can Use Losses to Reduce Prior Year Income
- Monday, 23 November 2009
- Tax
- Written by The Progressive Accountant
WASHINGTON — Most businesses may use losses incurred during the economic downturn to reduce income from prior tax years, under a revenue procedure issued today by the Internal Revenue Service.
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