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
Liberty Advisory Councils Support Change
- Wednesday, 21 February 2018
- Tax
- Written by The Progressive Accountant
Two advisory councils in the Liberty Tax Service network have endorsed the hiring of three new executives by the tax services chain. The council's official statement noted that the new execs come out of the franchisee and area developer base.
Liberty Tax Names New CEO
Troubled Liberty Tax has named three new executives, including Nicole Ossenfort, who was appointed president and CEO. The company parted ways with Ed Brunot, who joined as COO on June 1 and who became CEO in September. The new executives appear to be allies of ousted CEO John Hewitt.
Nevada Preparer Pleads Guilty
- Monday, 19 February 2018
- Tax
- Written by The Progressive Accountant
A Las Vegas, Nev.-based tax return preparer has pleaded guilty to preparing returns that cheated the government out of more than $2.7 million. Ofelia Ronquillo, age 62, admitted using a variety of techniques to preparer and submit false returns from 2009 through 2015.
Read more...Bloomberg Tax Debuts Project Suite
- Monday, 19 February 2018
- Tax
- Written by The Progressive Accountant
Bloomberg Tax has introduced Advantage, a suite of applications which focuses on tracking and managing projects and documents. Advantage also provides access to the company's Tax Fixed Assets, State Tax Analyzer and Sales Tax Rates.
ADP Adds Tax Reform Resources
- Sunday, 18 February 2018
- Tax
- Written by The Progressive Accountant
Automatic Data Processing has added a variety of resources about tax reform to its Accountant Connect dashboard. The payroll services company, working with Wolters Kluwer/CCH has recently made available onine courses and webcasts.
Blucora Returns to Profitability
- Thursday, 15 February 2018
- Tax
- Written by The Progressive Accountant
Blucora bounced back to the black for the year ended December 31. The parent of TaxAct, Blucora reported 2017 earnings of $27 million, a swing from a loss of $65.2 million in 2016 as revenue rose by 12 percent.
IRS: New Refund Scam Twist
- Thursday, 15 February 2018
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service is warning taxpayers of a scam in which erroneous refunds are deposited into their accounts. The agency also is providing detailed steps about how to return the funds.
IRS Looks at Recent Tax Changes
- Monday, 12 February 2018
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service says it is reviewing tax legislation signed February 9. That bill retroactively extended and modified numerous tax provisions cover 2017
Read more...Tax Reform Spurs Publisher Efforts
Tax reform has the industry moving along at a fast pace. Practitioners are trying to get in touch with the impact of the tax law on 2017 taxes and will be grappling with the far greater impact on returns a year from now.
CPA Charged for Helping Legislator
- Monday, 05 February 2018
- Tax
- Written by The Progressive Accountant
CPA John H. Nardozzi has been indicted for allegedly helping former Massachusetts State Senator claim millions of dollars of personal expenses as business expenses. Nardozzi, 62, was indicted on one count of conspiring to defraud the Internal Revenue Service and eight counts of aiding and assisting in the filing of false tax returns
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…
-
-
-
Dec 28 2025
-
Written by The Progressive Accountant
Explore the growing impact of sustainability reporting on accounting practices,…
-