ORRTAX CHANGES NAME Tax software vendor Orrtax Software Solutions has adopted Intellitax, the name of its preparation software line, as the company name.
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The company, which named Matt Scheuing as president in September, has also vamped its Web site, now at www.intellitaxcom, along with its customer portals. Scheuing said the recent tax season was the organization’s most successful ever.
EXECS MOVE TO MYPAY
Thomson Reuters Tax and Accounting has moved two longtime executives from the former Creative Solutions to spearhead MyPay Solutions, its payroll service bureau operation that the company has been building for two years.
Jack LaRue, senior VP, and sales VP David Pollak, who had worked with the CS product line since the early 1990s, have shifted to the new unit.
"We have been trying to grow it and get infrastructure in place,” says LaRue. He notes the operation is doing about $2 million in annual revenue.
THOMSON LAUNCHES SUITE
Thomson Reuters has bundled a number of programs from the tax and accounting market under the name Enterprise Suite RS.
The products being drawn together include GoSystem Tax, the GoFileRoom document management system, Engagement ES for managing workpapers and the practice management system, Practice ES.
TAX ANALYSTS JOINS WITH TRAC
Tax Analysts has reached an agreement under which the Transactional Records Access Clearinghouse, a part of Syracuse University, will provide information about the Internal Revenue Service.
The first product available will be a series of monthly reports from TRAC documenting the shifting trends in the overall enforcement of criminal tax cases by the IRS, other agencies and federal prosecutors. The reports also will provide information about changes in the statutes most frequently cited against individuals who have been convicted of tax violations.
PAYCHEX NET UP
Paychex reported net income of $142.5 million for the quarter ended March 31, up 13 percent from $126.6 million in last year’s corresponding period.
Total revenue reached $532.3 million, up from $485.3 million a year ago. Payroll service revenue was $374.2 million, up 8 percent from $345.4 million. The company said it projects growth of 8 percent to 9 percent for 2008 and 19 percent to 22 percent for the much smaller human resource services operation. The company also announced new jobs for two Paychex veterans. Michael A. McCarthy became vice president of sales for major markets, while Thomas F. Meagher succeeded him as vice president of sales for core payroll in the Eastern United States.
CCH OFFERS E&Y TOOLS
CCH has released the Ernest & Young Payroll Resource Library on the company’s Internet Research Network.
Features include Payroll Perspective, a monthly e-journal supplying information on state and federal developments, along with Payroll NewsFlash, email alerts which are stored in a searchable database after their reception. The system also offers charts of annual state payroll and employment tax surveys.
SMARTPROS REPORTS LOSS
SmartPros registered its first loss in four years, reporting a loss of $121,000 for the first quarter ended March 31, compared to net income of $587,000 in last year’s corresponding period.
Revenue reached $3.88 million, up from $3.72 million. Chairman and CEO Allen Green said the loss stemmed from expenses relating to a number of acquisitions and the cost of new product development. He continued that the company felt the expenses were necessary to produce needed growth.
EMONEY ADVISOR STARTS BLOG
eMoney Advisor has launched Money Bytes, a blog that the Conshohocken, Pa.-based company said provides information on industry trends and best practices.
It also pictured the blog as providing an opportunity for advisors to share information on growing, scaling and improving their businesses.