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GILMAN GETS SEC NOTICE

Some officers and current and former employees at Gilman Ciocia, which provides financial planning services, have received a "Wells Notice" from the SEC about its variable annuity sales by its registered representatives that were made from Jan. 1, 2002 through Aug. 1, 2006.

A Wells Notice informs recipients that the SEC staff is considering recommending the SEC bring civil actions against them to determine if they committed possible violations of SEC laws and rules. The company has the opportunity to present its case to the SEC, and said it would do.

Partner Insights

THOMSON UPDATES NETCLIENT

Thomson Reuters' Tax & Accounting business has issued a new release of NetClient CS, a portal technology for accounting professionals.

The new release offers Reuters news widgets, along with the ability to share data in real time, push invoices to clients and collect credit card payments. Thomson has about 20,000 NetClient portals, out of about 250,000 portals, said Teresa Mackintosh, senior vice president of marketing. She added that with more states requiring accountants to have 128-bit encryption on client communications, Thomson believes it's easier for professionals to use portals to distribute confidential information to accomplish that.

CERIDIAN PAYROLL REVS DROP

Ceridian, which went private in 2007, saw revenue from U.S. payroll and tax services drop to $598.4 million for the nine months ended Sept. 30, down 5.8 percent from $628.8 million a year earlier.

The company, which normally does not report financial results, made the disclosure as part of an SEC filing involving a debt exchange offering. Overall, Ceridian reported nine-month revenue of $1.18 billion, down from $1.23 billion for the corresponding period in 2007. Ceridian lost $60.6 million, compared to net income of $125.7 million the prior year.

Tax Payers Filing Early?

Yes Really need refund this year. 83% (106 votes)

No Owe and will wait until the last minute. 2% (3 votes)

Not sure Spending more time researching more deductions and tax breaks. 14% (18 votes)

Only 127 had voted in a Web-based tax survey hosted by Liberty Tax. But the overwhelming number said they are filing tax returns early because of their need for refund money. Source: Liberty Tax.

 

PAYCYCLE ACCOUNTING PROFESSIONAL PROGRAM

The 2009 release of the PayCycle Accounting Professional Program can export data to QuickBooks, offers multistate support and increases the maximum company size from 50 to 150 employees.

The company introduced a flat wholesale price based on a tiered system involving the number of users. Prices range from a base of $10.99 to $19.99 per client companies depending on volume, plus a per employee charge of 50 cents for more than five employees.

PETZ ENTERPRISES IN WASHINGTON STATE

Petz Enterprises, which markets the CrossLink and V-Tax tax applications, has opened an office in Bellevue, Wash.

Petz described the move as important to former customers of the Orrtax IntelliTax package. Orrtax was purchased late in 2008 by CCH, which dropped the acquired company's products. The Tracy, Calif.-based company has hired many former Orrtax employees, said vice president Charles Petz.

LIBERTY TAX LAUNCHES A SPANISH WEB SITE

Liberty Tax Service has launched a Spanish-language Web site that offers Latino customers the locations of Spanish-speaking offices, along with providing tax and tax ID information.

The new Web site can be accessed at www.libertytaxespanol.com. Liberty said the initiative involved both development of Spanish language forms and training in Latino culture for preparers.

CHESHIRE ADDS ESTATE PLANNING

Estate planning capabilities have been added to the Cheshire Wealth Manager, which enables users to analyze estate strategies.

Planners can enter strategies such as credit shelter trusts and gifting and irrevocable life insurance trusts and can compare them via flow chart and bar graph analysis. Additional strategy types will be added later.

 

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