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Documents on Taxation, Health Care
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|The Affordable Care Act—Countdown to Compliance for Employers, Week 13: IRS Notice 2014-49 Offers Useful Guidance on Changes in Measurement Periods or Changes in Testing Methods|
Alden J. Bianchi; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
October 6, 2014, previously published on September 29, 2014For purposes of complying with the Affordable Care Act’s employer shared responsibility rules (which are codified in Internal Revenue Code § 4980H), employers must identify their “full-time employees.” Final regulations issued under Code § 4980H provide two principle...
|The Affordable Care Act: Focus on Adjunct Faculty|
Patricia A. Moran; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
October 6, 2014, previously published on October 1, 2014The concepts of “hours of service” and “full time” loom large in the Affordable Care Act’s “employer shared responsibility” mandate (also known as the “employer mandate” or “pay or play mandate” and which we discussed in various...
|Final Rules on Compensation Deduction Limit for Health Insurers|
Dennis L. Allen, Adam B. Cohen, Thomas A. Gick, Michael A. Hepburn, Paul R. Lang; Sutherland Asbill & Brennan LLP;
September 29, 2014, previously published on September 25, 2014The Internal Revenue Service (IRS) and the Department of Treasury (Treasury) have issued final regulations under section 162(m)(6) of the Internal Revenue Code of 1986, as amended (Code), which limit the deduction certain health insurers may claim for compensation payable to their employees and...
|IRS Finalizes and Clarifies Obamacare Reporting Rules|
Barry L. Klein; Blank Rome LLP;
September 25, 2014, previously published on September 2014Action Items: The IRS has finalized and clarified the ObamaCare health care coverage reporting requirements for “applicable large employers.” The reporting requirements are effective for 2015. Major system changes will likely be necessary in order to track all of the information that is...
|Aspiring Medicinal Marijuana Business Owners in Illinois Should Understand and Plan for the Potential Tax Pitfalls|
Mark Milton; Husch Blackwell LLP;
September 3, 2014, previously published on August 27, 2014On September 8, 2014, the state of Illinois begins accepting applications for medicinal marijuana dispensary and cultivation center permits. Under the state’s Compassionate Use of Medical Cannabis Pilot Program Act, passed last year, Illinois will grant one cannabis cultivation permit for...
|One Step Closer to the Supreme Court: The Fate of Obamacare Premium Tax Credits in the Face of the Circuit Split|
Anna L. Sweigart; Spilman Thomas & Battle, PLLC;
August 22, 2014, previously published on August 13, 2014Last month, two federal courts of appeals issued opposing decisions on whether the Patient Protection and Affordable Care Act (the “ACA”) permitted subsidies, in the form of premium tax credits, to health coverage bought through insurance Exchanges operated by the federal government. As...
|Massachusetts Authorizes Commission to Study Tax Credit for Medical Device Manufacturers|
McDonald Hopkins LLC;
August 19, 2014, previously published on August 14, 2014Massachusetts will create a commission to study the feasibility of implementing a tax credit for medical device manufacturing companies to offset the federal medical device tax. The medical device tax is a 2.3 percent excise tax on medical device sales imposed on the industry since Jan. 1, 2013, as...
|Publications Feature Chris Condeluci's Reaction to Conflicting ACA Subsidy Rulings|
Christopher E. Condeluci; Venable LLP;
August 1, 2014, previously published on July 24, 2014 This week, two federal court rulings offered contradictory interpretations of a key component of the Affordable Care Act (ACA). A federal appeals court in Washington, DC ruled that Congress did not provide for subsidies on health insurance policies purchased through federal exchanges, a ruling...
|Hospital lab services may not constitute unrelated trade or business: IRS Technical Advice Memorandum|
Wakaba Y. Tessier; Husch Blackwell LLP;
July 28, 2014, previously published on July 25, 2014On July 11, 2014, the Internal Revenue Service (“IRS”) released a Technical Advice Memorandum (“TAM”) dated March 7, 2008, which concluded that, contrary to the general rule set forth in Revenue Ruling 85-110 (“Rev. Ruling 85-110”), a tax-exempt hospital’s...
|Will There Be Tax Credit Subsidies for Health Coverage Purchased on the Federal|
Thora A. Johnson, Elizabeth C. Keenan, Ralph S. Tyler; Venable LLP;
July 25, 2014, previously published on July 23, 2014There is no letup in the intensity of the litigation wars surrounding the Affordable Care Act (ACA) or in the significance of the matters at issue. In 2012, the Supreme Court narrowly upheld the ACA in the face of a full-scale attack while invalidating the ACA's Medicaid expansion requirements. A...