Latest News

Patient Protection and Affordable Care Act

Despite delays in some of the implementation of the PPACA, some provisions are still moving forward at this time (unless more changes). You may already be aware. Although the IRS has delayed the Patient Protection and Affordable Care Act (PPACA) employer information reporting and the employer shared responsibility requirements until 2015, many other PPACA provisions affecting employers remain on schedule... Read More

HLB International Appoints New Members in Bahrain and Eritrea

HLB International, one of the leading international accountancy networks, has recently signed two new member firms. Joining the network are Elyaa Audit and Consulting based in Bahrain, and Abraham Isaac & Company based in Eritrea. These additions will strengthen HLB International’s already well-established presence in the Middle East and Africa and contribute to developing offering to both existing... Read More

HLB International appoints member firm in 8 West African countries

HLB International has recently signed a new member firm. Joining the network is KMC, based in Niamey, Niger, who will be HLB International’s member in the following countries: Niger, Senegal, Burkina Faso, Ivory Coast, Benin, Mali, Togo, Guinea-Bissau. Established in 1991, KMC ranks Top 2 in Niger. KMC’s 40 person staff provide a full-range of audit, tax and consulting services for a turnover close to... Read More

IRS to Use Bar Codes for Social Security Numbers to Prevent Identity Theft

The IRS is in the process of replacing Social Security numbers (SSNs) with two-dimensional bar codes on nearly all of its notices in an effort to slash identity theft, an official with the agency’s Governmental Liaison and Disclosure Division said June 11. IRS’s efforts are a part of a government-wide initiative to eliminate, where possible, the use of SSNs because the numbers are frequently... Read More

Georgia Sales Tax Holiday

The Georgia Department of Revenue has issued an informational bulletin that provides notification of Georgia’s 2013 sales tax holidays. The exemptions from state and local sales and use tax will apply to certain items of tangible personal property sold during the period that begins at 12:01 A.M. on August 9, 2013, and ends at 12:00 Midnight on August 10, 2013. A second period begins at 12:01 A.M. on... Read More

Report of Foreign Bank and Financial Accounts (FBAR) Due June 30

Form TD 90-22.1, Report of Foreign Bank an Financial Account (FBAR) is due June 30 with no extensions. FBAR must be filed if a United States person had a financial interest in or signature authority over at least one financial account located outside of the United States; and the aggregate value of all foreign financial accounts exceeded $10,000 at any time during the calendar year to be reported. United... Read More

Pauline Reynolds Named Pinnacle Professional & Featured in Wall Street Journal

HLB Gross Collins, P.C. shareholder, Pauline Reynolds, was recently recognized by Continential Who’s Who as a Pinnacle Professional. This recognition highlights individuals and organizations each year who stand out in their specific field. The Wall Street Journal published an article highlighting this accomplishment. Click here to read the article. Congratulations Pauline! Read More

IRS to be Closed May 24 & Four Other Days

The Internal Revenue Service announced today additional details about the closures planned for May 24, June 14, July 5, July 22 and Aug. 30, 2013. Due to the current budget situation, including the sequester, all IRS operations will be closed on those days. This means that all IRS offices, including all toll-free hotlines, the Taxpayer Advocate Service and the agency’s nearly 400 taxpayer assistance... Read More

Qualified Education Expenses Credit Amended

Legislation has been enacted that amends the qualified education expenses tax credit available against Georgia corporate and personal income tax liabilities. Applicable to taxable years beginning on or after January 1, 2013, the credit is available to an individual who is a member of an LLC, a shareholder of an S corporation, or a partner in a partnership for the amount expended or $10,000 per year,... Read More