Business Organization, Tax Law, Insurance

New Guidance for Tax-Exempt Hospitals on Community Health Needs Assessment and Other Section 501(r) Requirements

by Ropes & Gray LLP on 4/10/2013

On April 5, the Treasury Department released proposed regulations that provide guidance on the community health needs assessment (“CHNA”) and other requirements for tax-exempt hospitals under section 501(r) of the Internal...more

As Clear as Mud! The Investment Diversification Rules for Private Placement Insurance Products

by Gerald Nowotny on 3/25/2013

A. Overview - The investment diversification rules are a critical element in planning for private placement insurance products. One of the underlying marketing premises for the attractiveness of private placement...more

Captive Insurance Companies - The Statutory 831(B) Captive

by Stephen A. Malley, APC on 3/4/2013

Captive insurance companies can serve a number of objectives, including reduction of insurance costs through self-insurance, maintenance of insurance at predicted costs, control of the claims process, and direct access to...more

Union Friendly - Using Collectively Bargained Benefit Plans to Maximize Employee Benefit Plan Contributions for Closely Held...

by Gerald Nowotny on 2/18/2013

Overview - Part I and Part II have focused on the tax planning possibilities of small business owners and owners of professional corporations utilizing an exemption for collectively bargained plans. This exemption allows...more

Panning for Gold in the Ivory Tower – Using Split Dollar and Private Placement Life Insurance to Compensate Senior Executives of...

by Gerald Nowotny on 2/8/2013

Overview - Charitable organizations from hospitals to universities have a difficult time attracting and retaining top executive talent from the world of public corporations. Public corporations provide competitive...more

Perspectives - Fall 2012 | Volume 3, Edition 2: An Executive Compensation, Benefits & Human Resources Law Update

by Bradley A. Benedict, Ana N. Damonte, Sarah A. Good, Peter J. Hunt, Mark Jones, Scott E. Landau, Cindy V. Schlaefer | Pillsbury Winthrop Shaw Pittman LLP on 12/13/2012

In This Edition: - Year-end Deadline for Correcting Section 409A Deferred Compensation Arrangements That Condition Payment on an Employee Release or Covenant: By December 31, 2012, all deferred compensation...more

Rappelling Down the Fiscal Cliff – Strategies for Cushioning the Fall – Part I

by Gerald Nowotny on 11/9/2012

Ready, set, go! Following the Presidential election last night, the race is on for year-end tax planning and bracing for the fall off the fiscal cliff. While no one can tell exactly what the tax outcome will be after...more

Commentary on October 24, 2012: Notice of Ways and Means Motion Relating to Tax Matters - Insurance Corporations

by Osler, Hoskin & Harcourt LLP on 11/2/2012

Except with respect to one proposal in respect of policy reserves for segregated life insurance policies, most of the changes to section 138 of the Act and Part XIV of the Income Tax Regulations are clarifying changes or...more

Rethinking COLI and BOLI – Part 1 - Using a Private Placement Variable Immediate Annuities as a Funding Vehicle for Corporate...

by Gerald Nowotny on 11/2/2012

Corporate owned life insurance assets (COLI) and Bank owned life insurance (BOLI) assets may account for close to $1 trillion or more of life insurance company assets. Virtually every major public corporation uses COLI. Why?...more

ObamaCare’s Impact on Expatriate Investment Fund Partners

by King & Spalding on 8/13/2012

The United States Supreme Court upheld the constitutionality of the Health Care and Education Reconciliation Act of 2010 (commonly referred to as ObamaCare) in a decision released June 28, 2012. A copy of the decision...more

IRS Clarifies Medicare Premium Deductions for Sole Proprietors, Partners and S Corporation Shareholder-Employees

by Leonard, Street and Deinard - Employee... on 7/31/2012

Sole proprietors, partners (including LLC members) and two percent shareholders in an S corporation are not treated as “employees” for purposes of certain benefits. Among those benefits is employer provided health insurance...more

Captive Insurance Companies: An Overview Of Insurance And Tax Advantages

by Stephen A. Malley, APC on 5/1/2012

Captive insurance companies ("Captives") formed to provide various forms of liability insurance offer a significant planning tool for U.S. companies. A Captive typically insures its owner-parent and/or related companies....more

Captive Insurance - Worth a Look

by Dinsmore & Shohl LLP on 1/9/2012

As seen in the November issue of Goering Center for Family and Private Business E-Newsletter. In today’s challenging economy and uncertain tax climate, a captive insurance company can offer multiple benefits. While a...more

The Multistate Tax Commission Takes Action on Proposal to Tax Pass-Through Entities Owned by Affiliates Not Subject to Corporate...

by Sutherland Asbill & Brennan LLP on 3/14/2011

On March 10, 2011, the Executive Committee of the Multistate Tax Commission (MTC) voted to submit to public hearings the model statute that would subject to corporate income tax a pass-through entity owned by an entity that...more

Health Care Reform Update - January 28, 2011

by Mintz Levin - Health Law on 2/1/2011

Implementation of Health Care Reform Law On January 21st Senate Democratic leadership continued to praise early benefits of the Affordable Care Act (ACA) and sent a letter to national tax preparation companies encouraging...more

PA Corporate Tax Notes: Computation of Insurance Retaliatory Charges

by McNees Wallace & Nurick LLC on 1/21/2011

In Selective Way Insurance Co. v. Commonwealth, No. 429 F.R. 2008 (November 30, 2010), the Commonwealth Court overruled Exceptions filed by the Commonwealth to its decision that the Pennsylvania Department of Revenue was...more

Sutherland Salt Shaker Vol. 1 No. 12- October 2010

by Sutherland Asbill & Brennan LLP on 12/21/2010

IN THIS ISSUE: Schedule UTP – California Wants to See What’s Hidden Under Your Mattress; Combined Reporting Not a Surefire Revenue Raiser; U.S. Supreme Court Asked to Review Partnership Nexus Case; Washington State’s Digital...more

2010 Deadline for Amendment to Retirement Plans: HEART

by Green & Seifter, Attorneys, PLLC on 11/3/2010

The Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART) amended the Internal Revenue Code to provide tax benefits and other benefits for military personnel. Employers were not required to formally amend retirement...more

Update on Health Care Reform - W2 Reporting Reprieve

by Green & Seifter, Attorneys, PLLC on 10/20/2010

The IRS has issued a one year reprieve granting relief to employers from the reporting the value of employer-sponsored health coverage on each employee’s annual W-2 beginning in 2011. ...more

PA Tax Law News- July 2010

by McNees Wallace & Nurick LLC on 9/10/2010

IN THIS ISSUE: State & Local Tax Seminars; PA Reinstates Voluntary Compliance Program; Jim Fritz Selected for Inclusion in “The Best Lawyers in America”; Commonwealth Court Addresses Calculation of Insurance Company...more

Commonwealth Court Addresses Calculation of Insurance Company Retaliatory Charges

by McNees Wallace & Nurick LLC on 9/10/2010

The Commonwealth Court has ruled that the Pennsylvania Department of Revenue may not ignore New Jersey’s statute capping a foreign insurer’s taxable premiums at 12.5% of worldwide premiums when determining what amount, if...more

Health Reform: Codifying Economic Substance Doctrine

by Sands Anderson PC on 8/24/2010

In our previous posts we talked about the new healthcare legislation which was signed into law (H.R. 4872, the Healthcare and Education Reconciliation Act of 2010 (Reconciliation Act P.L. 101-152)) (the “Healthcare Act”) and...more

IRS and Taxpayers To Bear Burden of New Healthcare Compliance

by Darrin Mish, Tampa Tax Attorney on 7/21/2010

The new healthcare law requires the IRS to administer giving tax incentives for those who purchase medical insurance. This is the government’s move to encourage every American citizen to be properly covered by insurance in...more

Tax-Exempt Employers May Be Eligible for Healthcare Insurance Tax Credit

by Manatt, Phelps & Phillips, LLP on 5/21/2010

For certain tax-exempt organizations, there is a new incentive for providing healthcare insurance coverage for their employees. In the recently enacted healthcare law, the Patient Protection and Affordable Care Act, a tax...more

IRS FAQs on the Small Business Health Care Tax Credit

by Sands Anderson PC on 5/20/2010

The Patient Protection and Affordable Care Act (i.e., the Health Care Reform Law or the Health Insurance Reform Law) was passed March 23, 2010. It included a number of tax credits to small employers to defray the costs of...more

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Business Organization › Tax Law › Insurance