Latest News

IRS Procedures for Providing K-1’s in Electronic Format

The IRS has come out with official procedures for providing K-1’s in electronic format. Generally, the procedure provides rules for (1) obtaining recipients’ consent to receive Schedule K-1 in electronic format; (2) notifying recipients of changes in electronic format after consent; (3) required disclosures including, but not limited to, the scope and duration of the consent and updating recipient... Read More

IRS Fresh Start Initiative

The Internal Revenue Service announced another expansion of its “Fresh Start” initiative by offering more flexible terms to its Offer in Compromise (OIC) program that will enable some of the most financially distressed taxpayers clear up their tax problems and in many cases more quickly than in the past. “This phase of Fresh Start will assist some taxpayers who have faced the most financial hardship... Read More

HLB Deutschland GmbH expands Federation with five new members

HLB Deutschland GmbH, a member of HLB International, has admitted five new member firms, located from North Rhine-Westphalia to the borders of Switzerland. Prof. Dr. W. Edelfried Schneider, CEO of HLB Deutschland GmbH commented: “We are very pleased to announce the additional new member firms. Offices with a long tradition appreciate the cooperation with HLB Deutschland GmbH and HLB International. On the... Read More

Georgia – Income Tax: Film Credit, Job Credit Provisions Amended

Georgia has enacted legislation amending provisions concerning the film tax credit and the job tax credit available against corporate and personal income tax liabilities. The film credit has been expanded to include a qualified interactive entertainment production company (a company whose gross income is less than $100 million that is primarily engaged in qualified production activities related to... Read More

Georgia -Income Tax: Nonresident Withholding, Fiduciary Estimated Tax Provisions Amended

Georgia has enacted legislation that amends the personal income tax withholding provision on nonresident distributions by requiring any partnership, S corporation, or limited liability company (LLC) that owns property or does business in Georgia to withhold a nonresident member’s share of taxable income sourced to Georgia, whether distributed or not. The amount of tax withheld for each nonresident member... Read More

IRS Pulls Millions of Returns for Possible Identity Theft

The IRS has pulled 2.6-million individual tax returns in 2012 for possible identity theft, Steven T. Miller, deputy commissioner, services and enforcement, told the Council for Electronic Revenue Communication Advancement (CERCA) on May 16. Miller, speaking at CERCA’s 2012 Spring Meeting in Arlington, Va., also cautioned that the unusually large number of expired and soon-to-expire tax provisions could... Read More

HLB Gross Collins. P.C. Featured in Global Atlanta

Atlanta’s online business news source, Global Atlanta featured HLB Gross Collins, P.C. in an article highlighting the Global Impact Award that the firm recently won. Click here to read the article. Read More

HLB Gross Collins, P.C. Wins Global Impact Award

HLB Gross Collins, P.C. is pleased to be the 2012 winner in the service category for the Global Impact Award, presented by the metro Atlanta Chamber of Commerce. The Global Impact Award recognizes a service provider in the metro Atlanta area that has played a significant role in increasing high quality job creation by attracting capital investment into metro Atlanta and by fostering international trade... Read More

HLB International Appoints New Member in Uzebekistan

HLB International, the international accountancy network, has signed its first member firm in Uzbekistan strengthening its presence in the Eurasian region. Joining the network is ?? Konsaudit-Adolat LLC ) based in Tashkent. ?? Konsaudit-Adolat LLC offers a wide range of auditing and professional services including accounting, taxation and financial analysis. The firm has established a strong client base... Read More