Tax & Financial News of The Week

Happy Friday! Although the weather is a little gloomy in San Diego, our mood is sunny and bright here at Common Form HQ! Why? Business is booming, the Super Bowl is this weekend, and besides, we need the rain. Plus, Monday (2/2/15) is the deadline for employers to mail your W-2. It may take a few days in transit, but soon most Americans will have their most important tax document in their hands and be able to file their taxes and get their refund.  

As usual, here's a quick run down of the financial and tax news that caught my eye this week. Feel free to shoot us any tax stories that interested you to contact@common-form.com.

 

IRS Releases Preliminary Data for Individual Returns from 2013 Tax Season. On Wednesday 1/28/15, IRS released preliminary data for individual returns filed during the 2013 Tax Season. Total returns filed were up 1.9% from 2012 to 147.7M total. 23.4M 1040EZ tax returns were filed in 2013, up 1.5% from 2012.

 

Techstars Closes $150 Million Fund for Early-Stage Investments. Techstars closed a $150 million early-stage fund, a much larger pool of money than it previously had, that will enable the firm to capitalize on the global network of startup founders and advisers it has built out in recent years.

 

Bench Bookkeeping Service Cooks Up $7 Million Series A. Staying in the Techstars family, Bench, the company that matches bookkeepers with businesses, closed a $7 million Series A round. The financing was led by Altos Ventures with participation from Contour Venture Partners.

 

Intuit Cries Uncle, Will Reverse TurboTax Deluxe Changes. Intuit cried Uncle. It announced on Thursday 1/29/15, that it will provide users of its TurboTax Deluxe desktop product free upgrades this year and will next year reverse changes it made that limited the usefulness of the 2014 version.

 

And finally, to send you into the Super Bowl with some light hearted news, checkout this infographic we made on the financial impact of the Super Bowl.

 

Enjoy the Big Game!

Bill