Picture a 1,000-piece jigsaw puzzle of a frightening image with a single piece missing. No matter which piece is missing, the image is still frightening. Now picture the same jigsaw puzzle with 400 pieces missing. The image...more
Hospital and Health System Innovation Centers clear the path for healthcare advancement. And in an environment upended by COVID-19, there is no better time for investment in innovation and growth of collaborative partnerships...more
11/3/2020
/ Business Development ,
Business Strategies ,
C-Suite Executives ,
Collaboration ,
Conflicts of Interest ,
Coronavirus/COVID-19 ,
Corporate Counsel ,
De-Identified Protected Health Information ,
Due Diligence ,
Health Care Providers ,
Healthcare Facilities ,
Hospitals ,
Innovation ,
Investment Management ,
Investment Opportunities ,
Investors ,
Partnerships ,
Physicians ,
Webinars
On March 13, 2020, President Trump declared a national emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act (the “Declaration”) due to extraordinary circumstances resulting from Coronavirus....more
3/17/2020
/ Coronavirus/COVID-19 ,
Corporate Counsel ,
Emergency Response ,
Employer Responsibilities ,
Financial Assistance Policies ,
Funding ,
Grants ,
Internal Revenue Code (IRC) ,
Private Foundations ,
Public Charities ,
Quarantine ,
State of Emergency ,
Tax Relief
Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more
10/10/2019
/ Beneficiaries ,
Classification ,
Confidential Information ,
Conflict Resolution ,
Divorce ,
Estate Planning ,
Events ,
Family Businesses ,
Family Trusts ,
High Net-Worth ,
Private Foundations ,
Settlement Negotiations ,
Spouses ,
State Taxes ,
Tax Liability ,
Tax Planning ,
Trustees ,
Trusts
Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more
10/9/2019
/ Beneficiaries ,
Classification ,
Confidential Information ,
Conflict Resolution ,
Divorce ,
Estate Planning ,
Events ,
Family Businesses ,
Family Trusts ,
High Net-Worth ,
Private Foundations ,
Settlement Negotiations ,
Spouses ,
State Taxes ,
Tax Liability ,
Tax Planning ,
Trustees ,
Trusts
Please join us this November for McDermott Will & Emery’s Private Client West Coast Forum. At this complimentary program, experienced McDermott partners will lead discussions on a broad range of topics pertinent to ultra-high...more
10/8/2019
/ Beneficiaries ,
Classification ,
Confidential Information ,
Conflict Resolution ,
Divorce ,
Estate Planning ,
Events ,
Family Businesses ,
Family Trusts ,
High Net-Worth ,
Private Foundations ,
Settlement Negotiations ,
Spouses ,
State Taxes ,
Tax Liability ,
Tax Planning ,
Trustees ,
Trusts
As an update on an important matter that we raised during McDermott’s May 8 Tax Symposium, it is critical to promptly assess whether to report any excise taxes imposed under Section 4960 as the deadline for filing Form 4720...more
5/14/2019
/ Charitable Organizations ,
Employee Definition ,
Excise Tax ,
Filing Deadlines ,
Good Faith ,
Highly Compensated Employees ,
Internal Revenue Code (IRC) ,
IRS ,
Private Foundations ,
Privately Held Corporations ,
Proposed Regulation ,
Tax Exempt Entities ,
Volunteers
One of the more controversial and complex provisions of the Tax Cuts and Jobs Act has been the 21 percent excise tax on certain nonprofit executive compensation. On December 31, 2018, the IRS issued interim guidance that...more
As part of its comprehensive 2017 tax reform bill, Congress repealed deductions for Qualified Transportation Fringes including for employer-provided parking, while also requiring that tax-exempt organizations increase their...more
Tax-exempt organizations—especially hospitals and health systems—face a new tax reality now that both houses of Congress have voted to pass the final tax reform bill....more
The Senate’s final tax reform bill contains several troubling provisions for tax-exempt organizations but represents an improvement over last month’s proposed legislation, which caused concern across the nonprofit sector. ...more
In what can only be described as a brutal attack on the nonprofit sector, the Senate has proposed sweeping changes that would have dramatic adverse effects on all tax-exempt organizations. Whereas the latest version of the...more
11/13/2017
/ Business Taxes ,
Charitable Donations ,
Colleges ,
Deferred Compensation ,
Excise Tax ,
Executive Compensation ,
Sanctions ,
Senate Finance Committee ,
Tax Exempt Entities ,
Tax Reform ,
Universities
After nearly two decades of restructuring service agreements to comply with Internal Revenue Service safe harbors, hospitals and other 501(c)(3) organizations are now subject to a new set of guidance and a single safe harbor...more