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HTMLNew Audit Rules Require Careful Review of Partnership and Operating Agreements
Mark D. Klimek; McDonald Hopkins LLC;
Legal Alert/Article
February 26, 2016, previously published on February 22, 2016
The Bipartisan Budget Act of 2015, which became law in November, includes significant changes in the way IRS partnership audits will be handled. Although the new audit rules are not mandatory until 2018, partnerships can elect to be subject to these rules now. It is therefore important for both...

 

HTMLMichigan: Governor’s $54.9 Billion Budget Proposal Includes Sizeable Funding to Address the Water Crisis
Chad Arfons, David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
February 26, 2016, previously published on February 18, 2016
A Feb. 10, 2016 press release summarizing Gov. Rick Snyder’s fiscal year 2017 budget proposal, submitted last week, reveals that he is seeking a substantial supplemental request for the current fiscal year to help Flint get out from under the lead-in-the-water problem. Included is $30 million...

 

HTMLMassachusetts: Proposal to Increase Income Tax for Millionaires Takes a Step Forward
Chad Arfons, David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
February 25, 2016, previously published on February 11, 2016
The group Raise Up Massachusetts, a coalition of labor, faith, and community organizations working to improve economic and social justice in Massachusetts, is hoping to create an additional tax of four percentage points on annual income above $1 million, by way of a state constitutional amendment....

 

HTMLConnecticut: State of the State Speech Acknowledges a New Economic Reality
Chad Arfons, David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
February 24, 2016, previously published on February 11, 2016
Last week, Governor Dannel Malloy gave his state of the state speech, in which he outlined five budget principles that he said would make the state’s budget more predictable, more sustainable, and more transparent. The picture the Governor painted was one of tough times that require the...

 

HTMLFlorida: Budget Negotiations for Fiscal Year 2016-17 Begin
Chad Arfons, David M. Kall, Susan Millradt McGlone; McDonald Hopkins LLC;
Legal Alert/Article
February 24, 2016, previously published on February 11, 2016
At the end of January, the Florida House of Representatives released its budget proposal, as did the Senate. In comparing the two, the media outlet FloridaPolitics.com pointed out that both the House’s $79.9 billion version, and the Senate’s $80.9 billion version, surpassed the $79.3...

 

HTMLPresident Obama Unveils His Budget
McDonald Hopkins LLC;
Legal Alert/Article
February 22, 2016, previously published on February 12, 2016
According to the Obama administration, this budget pays for all new spending and achieves $2.9 trillion of deficit reduction over 10 years. The President’s budget achieves $375 billion of health savings and more than $955 billion in deficit reduction by raising taxes on high income earners.

 

HTMLSenate Passes Permanent Internet Access Ban
McDonald Hopkins LLC;
Legal Alert/Article
February 22, 2016, previously published on February 12, 2016
This week, the Senate voted overwhelmingly, 75 to 20, to turn a temporary moratorium on Internet access taxes into a permanent ban. The legislation, which passed the House in December, now heads to President Obama's desk for his signature.

 

HTMLHouse May Not Take Up Budget
McDonald Hopkins LLC;
Legal Alert/Article
February 22, 2016, previously published on February 12, 2016
As House Republican leadership faces a rebellion from their right flank over the budget, House appropriators are prepared to move forward whether or not the chamber passes a budget blueprint.

 

HTMLFinal Rule Clarifies Obligations to Report and Return Medicare Overpayments
Rick L. Hindmand, Jane Marie Pine Wood; McDonald Hopkins LLC;
Legal Alert/Article
February 22, 2016, previously published on February 16, 2016
The Centers for Medicare & Medicaid Services (“CMS”) issued a final rule on Feb.12, 2016 that requires Medicare providers and suppliers to report and return overpayments by the later of (a) 60 days after the date an overpayment is identified or (b) the due date of any corresponding...

 

HTMLFAA Re-Authorization Moves in House
McDonald Hopkins LLC;
Legal Alert/Article
February 22, 2016, previously published on February 12, 2016
On Thursday, the House Transportation and Infrastructure Committee held a mark-up of the Federal Aviation Administration (FAA) re-authorization bill introduced by Chairman Bill Shuster (R-PA) and House Aviation Subcommittee Chair Frank LoBiondo (R-NJ) last week.

 


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