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Documents on Taxation, Health Care
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|IRS Ruling Sounds Alarm over Tax-Exempt Status of Nonprofit ACOs Operating outside of the Medicare Shared Savings Program|
Jean Marie Bertrand, Brian T. McGovern, Paul W. Mourning, Khaled Mowad; Cadwalader, Wickersham & Taft LLP;
June 9, 2016, previously published on May 10, 2016On April 8, 2016, the IRS released private letter ruling 201615022 denying tax-exempt section 501(c)(3) status to a nonprofit accountable care organization (“ACO”) that did not participate in the Medicare Shared Savings Program (“MSSP”).1 This adverse determination raises...
|IRS Guidance on Unconditional Opt-Out Payments|
Eva A. Rasmussen; Clifton Budd & DeMaria, LLP;
March 16, 2016, previously published on March 16, 2016Many employers offer employees a cash incentive (an "Opt-Out Payment"), if they waive coverage under the employer’s health plan. The rationale is that the Opt-Out Payment is less expensive than the employer's cost in subsidizing the coverage. Employers that offer Opt-Out Payments...
|Cadillac Tax Effective Date Postponed (and Three Other 2015 Year End Health and Welfare Benefits Legislation Highlights) |
Mintz Levin Cohn Ferris Glovsky Popeo P.C.;
January 18, 2016, previously published on January 7, 2016While Americans everywhere were busy eating turkey and drinking eggnog last November and December, our government was hard at work attending to budget matters. Tucked among the appropriations were several fairly significant items of interest to employers, employees, providers, administrations, and...
|Extended Due Dates|
Thomas N. Lawson; Loeb & Loeb LLP;
August 14, 2015, previously published on August 2015The Surface Transportation and Veterans Health Care Choice Improvement Act generally provides both S and C corporations an automatic six-month extension to file their returns effective for taxable years beginning after Dec. 31, 2015. Calendar-year C corporations will be allowed only an automatic...
|Choice of Entity Decisions in Light of Medicare and Other Tax Law Changes|
Sonya S. Jindal, Lourdes E. Perrino; Taft Stettinius & Hollister LLP;
April 23, 2015, previously published on April 16, 2015In light of the Patient Protection and Affordable Care Act1 and the Health Care and Education Reconciliation Act of 2010,2 small and family owned businesses have been reevaluating choice of entity considerations. This article summarizes the most common business entity forms and some of the major...
|Protecting the Hospital Tax Exemption Part III: The Financial Assistance Policy|
Julie C. LaVille, Gary J. McRay; Foster, Swift, Collins & Smith, P.C.;
April 21, 2015, previously published on March 31, 2015On December 31, 2014, the Internal Revenue Service (“IRS”) published final regulations providing guidance on how a hospital keeps its tax exemption by complying with Section 501(r) of the Internal Revenue Code. Section 501(r), which was added by the Patient Protection and Affordable...
|ACA Cadillac Tax Proposed Regs: What Treasury and IRS Are Considering|
Stephanie O. Zorn; Jackson Lewis P.C.;
March 31, 2015, previously published on March 10, 2015The Affordable Care Act (“ACA”) added section 4980I to the Internal Revenue Code (“Code”). Code section 4980I applies to tax years after December 31, 2017, and provides a tax on high cost employer-sponsored health coverage - if the aggregate cost of employer-sponsored...
|IRS Ruling Permits Inclusion of “Friendly PCs” in Consolidated Federal Income Tax Returns|
Theresa C. Carnegie, Ryan J. Cuthbertson, Carrie A. Roll, Jonathan R. Talansky; Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C.;
March 30, 2015, previously published on February 13, 2015On December 19, 2014, the Internal Revenue Service (“IRS”) issued a private letter ruling (the “Ruling”) allowing corporations that manage physician practices through a so-called “friendly physician” arrangement to treat the physician practices as members of the...
|Protecting Your Hospital's Tax-Exempt Status: Compliance with the Affordable Care Act and Final IRS Section 501(r) Regulations|
Gerald M. Griffith, Catherine E. Livingston; Jones Day;
March 30, 2015, previously published on March 2015The Patient Protection and Affordable Care Act (the "Affordable Care Act") imposes four new requirements that Section 501(c)(3) "hospital organizations" operating "hospital facilities" must meet to keep their tax-exempt status.
|Health Care E-lert - The Supreme Court Appears Closely Divided on the Fate of Tax Credits Under the Affordable Care Act|
March 24, 2015, previously published on March 4, 2015The US Supreme Court heard oral arguments on Wednesday, March 4, 2015 in King v. Burwell to determine the interpretation of a six-word phrase in the Affordable Care Act (“ACA”). The six-word phrase states the federal government can offer tax credits in the form of subsidies to help...