Tax (1588)
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
H&R Block Offers ITIN Renewals
- Thursday, 25 January 2018
- Tax
- Written by The Progressive Accountant
H&R Block is offering free applications for renewals of individual taxpayer identification numbers. The tax preparation services company says nearly a million taxpayers have ITIN numbers which have expired.
Read more...TaxAct Debuts Self-Employed Software
- Tuesday, 23 January 2018
- Tax
- Written by The Progressive Accountant
TaxAct Freelancer has been relesed to tailor tax preparation and filing for freelancers, independent contractors, and self-employed individuals. Among the features are Deduction Maixmizer, which enable taxpayers find deductions most relevant to their professions.
Read more...Kansas Preparer Draws Eight Years
- Monday, 22 January 2018
- Tax
- Written by The Progressive Accountant
A preparer who operated a tax business in Kansas City, Kan., has been sentenced to eight years in prison. Alfred Reece, 58, a former resident of Overland Park, Kan., has also been ordered to pay $648,442 in restitution to the Internal Revenue Service.
Bloomberg Offers Tax Webinars
- Monday, 22 January 2018
- Tax
- Written by The Progressive Accountant
Bloomberg Tax is in the middle of a series of eight webinars under the name, the "Implications of the 2017 Tax Act. Six of the webinars remain in the series which designed to examine issues of which tax professionals should be aware.
Read more...IRS Picks Council Members
- Tuesday, 16 January 2018
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service has appointed seven new members to the Internal Revenue Service Advisory Council. The council is an organized public forum for IRS officials and public representatives to discuss issues in tax administration.
Read more...Liberty Tax Faces Listing Issues
- Tuesday, 16 January 2018
- Tax
- Written by The Progressive Accountant
Liberty Tax is facing two issues in order to remain listed on the Nasdaq Stock Market. The first notice of noncompliance with the exchanges rules came after the company announced postponement of the release of financial results for the quarter ended October 31.
IRS Updates Withholding Tables
- Sunday, 14 January 2018
- Tax
- Written by The Progressive Accountant
The Internal Revenue Service has released withholding tables that reflect changes for 2018 made by tax reform legislation. Employers should begin using these as soon as possible, but not later than February 15.
Tax Fraud Phishing Alive and Well
- Wednesday, 10 January 2018
- Tax
- Written by The Progressive Accountant
Members of the tax industry are warning that phishing emails are appearing in numbers as tax season approaches. The Internal Revenue Service, software companies and other parties say this continues last year's efforts to trick tax professionals into opening a link or attached document.
WK Intros New Support Tools
- Monday, 08 January 2018
- Tax
- Written by The Progressive Accountant
New user communities and a support chatbot has been introduced by Wolters Kluwer Tax and Accounting. The new tools are designed for users of CCH Axcess and ProSystem fx Suite.
Read more...Intuit: Tax Reform Uncertain Impact
- Monday, 08 January 2018
- Tax
- Written by The Progressive Accountant
Intuit does not see a clear impact on its tax obligations from the reduction of the corporate tax rate. What it is not anticipating is a significant reduction in the amount of taxes paid as a result of tax reform.
Most Read
-
-
Apr 26 2026
-
Written by The Progressive Accountant
Explore recent state income tax reforms in the US and…
-
-
-
Apr 26 2026
-
Written by The Progressive Accountant
Explore how cloud technology is reshaping the accounting industry by…
-
-
-
May 03 2026
-
Written by The Progressive Accountant
Explore the latest changes in sales tax compliance and economic…
-
-
-
Apr 26 2026
-
Written by The Progressive Accountant
Discover how automation is revolutionizing accounting firms by enhancing efficiency…
-