Tax

Tax (1081)

SafeSend Now Supports Lacerte

SafeSend has added support for tax returns prepared by the use of Lacerte tax preparation software. The move adds to software packages whose products are supported by SafeSend’s automated electronic assembly and delivery system.

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AICPA Wants Guidance on Payroll Tax Deferral

The American Institute of CPAs has requested guidance on the deferral of payroll taxes under executive actions signed this month by President Donald Trump. The requests were sent this month to the Treasury Department and the Internal Revenue Service.

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CCH Axcess Small-Firm Version Launched

 Wolters Kluwer Tax & Accounting has introduced CCH Axcess with QuickStart. The latest version of the suite is designed to reduce implementation side for smaller firms.

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WK: Customers Cautious on New Purchases

Tax preparation customers are renewing their products from Wolters Kluwer. However, many existing customers are not buying new products, the company said during its recent webcast for earnings for the first half ended June 30.

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Delay Bites into TaxAct 2Q Biz

The delay of the tax season filing deadline under the impact of the COVID-19 virus bit into the tax preparation business for Blucora for the second quarter ended June 30.  Revenue for the company’s TaxAct business was $42.4 million for the most recently ended quarter, down $31.4 million from slightly less than $66 million a year ago.

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Security Summit: Remote Preparers Should Use VPN

Tax practitioners who are working remotely should utilize a virtual private network, according to the Internal Revenue Service and the Security Summit. The use of a VPN is recommend as an important step to protect against cyber intruders.

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Thomson’s Tax Business: Unusual Quarter

The Tax & Accounting Professionals business of Thomson Reuters had a quarter buffeted by unusual events. The second quarter ended June 30 was impacted both by the extension of tax deadline through July 15 and the company’s sale of its government business.

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DIY Returns Boost H&R Block

A 10.6-percent rise in do-it-yourself online filings led H&R Block to a 3.3 percent in tax returns prepared for the 2019 tax year. Block this week said it prepared 21.2 million returns for the year through July 17.

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Liberty Returns Fall 11.5 Percent

Liberty Tax prepared about 1.15 million federal income tax returns through July 15, its parent, the Franchise Group reported this week. That was down 11.5 percent from 1.3 million for the 2019 season

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Big DIY Rise Boosts Tax Season

A 22.8-percent rise in self-prepared efiles lifted the extended tax season to a 4-percent increase in returns. The Internal Revenue Service has reported that 151,782,000 were filed for the season through July 17 compared to 145,941,000 filed through July 19, 2019.

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