Well, 2007 is barely here and already we've seen the first acquisition. In a letter apparently sent to its user base this week officers of TaxWorks confirmed what had become one of the worst-kept secrets in tax and accounting technology vendor history --- namely, that they had been acquired by H&R Block. After last year's Dunphey / CPA Software / ATX / TaxWise acquisitions we're now down to [essentially] one independent --- Drake. (See post of August 18, 2006).
As in all acquisitions the user base is assured that there will be no changes, that TaxWo
rks will continue to operate "the same way it has operated over the past three decades", that personnel, products, services, and seminars will all remain intact and headquartered in Kaysville, UT.
Family members of the late Wayne Bates, TaxWorks' founder along with VP Lyle Petersen signed the February 19th letter saying "We look forward to the next three decades."
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Download taxworks_acquired_by_hr_block_letter.pdf
NOTES:
- I tried [unsuccessfully] at least 15 times to reach Petersen --- leaving a dozen voice messages over a three week period ---- to discuss this matter. None of my messages were returned. It's too bad, because he could have added valuable insight for all you TaxWorks users.
- I wonder if McGladrey [also owned by Block] will be using TaxWorks in their offices ---- or will existing TaxWorks customers be offered a "deal" on a H&R Block franchise?
- Oh, and in the office pool on the "next three decades on Kaysville" deal ---- I'll take the "3 year" spot!
