I just received a release that ADP has acquired the outsourced payroll from http://www.intuit.com/. For those of you that use Quickbooks payroll service, there will be a transition to ADP’s payroll service. I received this news release from my contact at Paychex. I’m sure that she expects there to be fallout from those who do not want to stay with ADP or are not happy with the transition and they will look to Paychex.
For more about the Acquisition ADP/INTUIT or INTUIT/ADP.
Many mutual funds and brokerage firms have requested and received an extension from the IRS until February 15, 2007 to distribute 1099s for dividends.
Based on the tax laws as to what is considered qualified dividends, subject to the 15% tax bracket these third party investors must receive the dividend information from the individual companies whose stock they hold. The companies do not give their dividend information until January 31, 2007.
The mutual funds and brokerage houses do not want to send amended 1099’s in February after many people have filed their returns. As this would require those who have filed to amend their income tax returns. The IRS has approved their extension to avoid the amended returns.