We help companies all over Georgia identify and obtain tax credits. Tax credits maximized. Risk minimized.

Archive for October, 2011

DOR Needs Your Patience

Filed under: Management
October 27, 2011

Georgia’s DOR is in the process of converting to a new individual income tax return system. In case you hadn’t noticed, this has delayed return processing and refunds. They told us that since many of their employees are having to help get the systems ready, everything else in the department has slowed down. As we all know with any new system, it takes time and patience.

One thing you can do to help with processing your clients’ tax returns (especially with tax credits) is to attach all of the equity owners’ K-1s to the corporate return and the individual equity owner’s K-1 to their individual return. This will help DOR follow the tax credit $$ from the corporate return to the individual returns. Looks like this is a case where more data is good (!!).

DOR’s goal is FASTER. FRIENDLIER. EASIER. If we all can help them achieve this goal, your clients will benefit.

Competitiveness Initiative Update

Filed under: Policy
October 27, 2011

This is the quiet time of the process, on the surface, but the real work is happening right now within the Georgia Chamber’s Government Affairs Council. They are responsible for developing the core recommendations of the Initiative’s strategy report.

You may want to attend the 2011 Georgia Chamber Tax Forum on November 3. This session will include the Chamber’s tax legislative initiatives and a preview of the 2012 legislative session. Hope to see you there! (click here)

HIPAA 5010 and Retraining Tax Credits

Filed under: Retraining Tax Credit
October 27, 2011

Beginning on January 1, 2012 the new HIPAA 5010 electronic transaction standards will affect almost every aspect of a physician practice’s reimbursement and revenue stream (click here). This may require software upgrades, workflow changes and employee training. Employee training on the 5010 regulations does not count for the Retraining Tax Credit since it involves regulations. However, employee training on the new/upgraded software and workflow changes may count for the Retraining Tax Credit. Talk with your clients about their preparation for HIPAA 5010 and let them know that a tax credit could help out.

Upcoming Events

Filed under: Management,Policy
October 27, 2011

November 4, 2011 – Georgia Medical Group Management Association (MGMA) 2011 Governmental/Third Party Payer Forum. Stop by our booth (Click here).

November 18, 2011 – Institute for Professionals in Taxation (IPT) Georgia One-Day Tax Seminar. This will be a great session to hear the new DOR commissioner and talk with DOR policy folks. Hope to see you there. (to download brochure click here).