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Scam Warning: Corporate Records Service Annual Minutes Form

Posted on February 1, 2013 by

State officials are warning Wisconsin business owners about “Corporate Records Service,” a company sending out formal-looking “Annual Minute Forms” to Wisconsin businesses in an attempt to collect confidential information and fees for unnecessary paperwork.   The Wisconsin Department of Financial Institutions issued a news release earlier this week stating they have received numerous inquiries from […]

Final Regulations Issued Under the HITECH Act

Posted on January 24, 2013 by and

A final rule containing a wide range of changes to the privacy and security provisions of HIPAA was released last Thursday (January 17, 2013) by the Department of Health and Human Services Office for Civil Rights (OCR). The final regulations include a variety of implementing provisions for three primary rules that were required by the […]

Estate Planning is About More Than Estate Taxes

Posted on January 21, 2013 by and

After a flurry of last-minute negotiations to avoid the so-called “fiscal cliff,” Congress passed, and President Obama signed, the American Taxpayer Relief Act of 2012. Among other things, it makes permanent the $5 million amount that may be transferred tax-free through a combination of lifetime gifts and transfers at death. For both gift and estate […]

Physician Pay Cut Avoided By the Fiscal Cliff Legislation

Posted on January 7, 2013 by

Physicians can breathe a sigh of relief for at least another year. The “fiscal cliff” legislation that was passed by Congress on New Year s Day and signed by President Obama Wednesday night (January 2, 2013) averted the planned cut in Medicare payments for physicians that were scheduled to take place on January 1, 2013. […]

Congress Strikes Deal To Avoid Tax Changes

Posted on January 2, 2013 by

Congress passed the American Taxpayer Relief Act of 2012 overnight. President Obama has not yet signed the bill into law, but he is expected to sign the bill as proposed. The bill proposes some increases in tax rates, but the changes are not as significant as they could have been if Congress had failed to […]

2013 Standard Mileage Rates

Posted on November 21, 2012 by

The Internal Revenue Service has announced the optional standard mileage rates for computing the deductible cost of operating an automobile for business, medical, and moving expenses for 2013. Effective January 1, 2013, the optional standard mileage rates will increase to 56.5 cents per mile for business transportation, and increase to 24 cents per mile for […]

Planning for Imminent Tax Changes

Posted on November 9, 2012 by

On Tuesday, President Obama was elected to a second term in office. The congressional election results indicate the potential for continuing gridlock between the House of Representatives and the Senate. The election results add to the uncertainty of whether we will return to pre-Bush era tax rates if there is no political compromise before year-end. […]

IRA Rollover by Non-spouse IRA Beneficiary is Prohibited

Posted on November 6, 2012 by

In July 2012, the United States Tax Court reiterated that inherited individual retirement accounts (IRAs) cannot be rolled over. Elizabeth Beech was the beneficiary of her deceased mother s traditional IRA. She received a check from the IRA, opened a new IRA, and deposited the funds from the check into the new IRA. Ms. Beech […]

OIG Approves Per Diem Payments to Physicians for On-Call Coverage

Posted on October 31, 2012 by

Payment for call coverage has become a major issue throughout the country as physicians are increasingly asking for payment for providing call availability. Traditionally, call coverage has been seen as part of the physician’s medical staff obligation. However, physicians are beginning to question traditional “on-call” coverage obligations for a number of reasons, including the fact […]

CMS Settles Class Action Reversing Nursing Home Improvement Standard

Posted on October 23, 2012 by

It is being reported that the Center for Medicare Advocacy, Inc. has settled its class action lawsuit with the Center for Medicare and Medicaid Services regarding the “improvement standard” that CMS has historically required in order to continue Medicare reimbursement for patients in nursing homes. The “improvement standard” resulted in Medicare coverage being denied in […]