The Internal Revenue Service announced on Friday that the official start to tax season will be Jan. 23, 2017. The IRS will begin accepting electronic tax returns that morning and expects over 153 million returns to be filed before the deadline. The deadline itself is the other story, as it will be April 18th this year, instead of the usual April 15th. April 15th falls on a Saturday in 2017, and the usual approach would be to move the deadline day to the next Monday. However, that Monday is Emancipation Day, a legal holiday in Washington D.C., hence the unusual deadline.
SEC Accuses Boston FA of Defrauding Clients The Securities and Exchange Commission has accused Richard Cody, founder of Boston Investment Partners, of defrauding his victims of hundreds of thousands of dollars of their retirement income while claiming the whole time that their accounts were flourishing, MassLive reports. The SEC's lawsuit contends that the fraud started in 2001, about the time Cody gave a presentation to Verizon workers and acquired clients. He is accused of allegedly forging signatures, fabricating financial documents and telling clients their accounts were healthy while their funds dwindled. "Cody's deceptions caused these clients to believe that their retirement savings were secure when, in fact, they were not," the SEC's lawsuit states. "The sheer duration of Cody's deception deprived these clients of any opportunity to take measures to decrease or to stop their losses or even to work longer to make up those losses."
Stash Scores $25 Million If you thought we’d already passed peak capital funding in robo-advisor technology, you would be wrong. Stash, a digital advice firm based in New York City that offers investment advice for accounts as small as $5 though a mobile app, announced that it raised $25 million in Series B funding this week after it raised $9.25 million in Series A funding in August. The company claims it is the fastest-growing consumer investing platform, adding 300,000 customers over the last year and 10,000 new users each week. Stash said it would use the new funding to develop new features, services and products, and support its free educational hub, “Learn.” READ MORE OF THE DAILY BRIEF |