Bipartisan Agreement

News & Analysis as of

Responsibility for Deficiencies Will Shift to Partnerships Under New Audit Rules

Effective for tax years beginning after December 31, 2017, any additional tax or penalties resulting from a partnership audit will be assessed and collected at the partnership level in the year the audit is completed....more

Washington, D.C. Update – November 2015

In the final week of October, congressional leaders and the White House reached an agreement on a wide variety of measures to "clean the barn" for Speaker John Boehner's (R-OH) successor. The Bipartisan Budget Act of 2015...more

Budget Legislation Repeals Affordable Care Act’s Automatic Enrollment Requirement for Large Employers

The Bipartisan Budget Act of 2015, Pub. L. No. 114-74, which was signed by President Obama on November 2, 2015, included a little-publicized provision that repealed the Affordable Care Act’s automatic enrollment requirement. ...more

Energy & Environment Update - November 2015

Energy and Climate Debate - In his final major effort prior to retiring last week, Speaker of the House John Boehner (R-OH) reached a bipartisan agreement, the Bipartisan Budget Act of 2015, with other House and Senate...more

OSHA Fines to Increase by Nearly 52%: This marks the first time penalties have increased in 25 years

OSHA critics often complain that the maximum allowed penalties have not changed since 1990 when the penalties were set at $7,000 (other than serious and serious) and $70,000 (repeat or willful). The “Bipartisan Budget Act of...more

OSHA Penalties – After 25 Years There Will be an Increase

The new two-year bipartisan budget, signed by President Obama on November 2, 2015, allows (in fact requires) OSHA to raise its citation penalties for the first time in 25 years. Since 1990, OSHA has been one of only three...more

Bipartisan Budget Act Extends MAP-21 Pension Funding Relief and Increases PBGC Premiums

On Monday, November 1, 2015, President Obama signed into law the Bipartisan Budget Act of 2015 (the “BBA”) which brings familiar changes for sponsors of defined benefit pension plans. Similar to the Moving Ahead for Progress...more

Sweeping Change to Partnership Tax Audit Procedures

A major change to partnership audits was signed into place by President Barack Obama on November 2nd following the passage of the Bipartisan Budget Act of 2015 by Congress on October 30th. Previously, partnerships with more...more

Reimbursement Change for Off-Campus Provider-Based Clinics, Physician Offices, and Ambulatory Surgical Centers

On November 2, 2015, President Obama signed the Bipartisan Budget Act of 2015, a two-year budget deal with a key provision affecting hospitals and other health care providers. Effective January 1, 2017, the Act decreases the...more

Senate Passes Legislation To Ease Sharing Of Cybersecurity Threat Information

On October 27, 2015, the Senate passed S. 754, the Cybersecurity Information Sharing Act of 2015 (“CISA”), which addresses how companies can share cyber threat information with the federal government. The legislation aims to...more

Bipartisan Budget Deal Includes Provisions Impacting Employers

On Monday, President Obama signed into law a two-year bipartisan budget deal that has several implications for employers. The Bipartisan Budget Act of 2015 (H.R. 1314) suspends the debt ceiling limit until March 2017, and...more

Provider-Based Status: A Quiet Casualty of the Bipartisan Budget Act

Without fanfare or any significant discussion, the Bipartisan Budget Act (Act) contains the first legislative action related to provider-based status—and it is a sweeping action with negative financial consequences to many...more

Congress Passes Partnership Audit Reform – Obama Expected to Sign

Last week the Senate passed H.R. 1314 (The Bipartisan Budget Act of 2015), which will completely change the way partnerships (and LLCs taxed as partnerships) are audited.  The House passed the legislation on Wednesday and it...more

Partnership Audit Reform Marches Forward

As part of the current Bipartisan Budget Act of 2015, sweeping changes to the partnership audit rules could be imminent. The new rules would greatly simplify the IRS procedures for auditing partnerships and likely increase...more

U.S. House of Representatives Passes Several Financial Regulatory Relief Bills, Including TRID Safe Harbor

On October 7, the U.S. House of Representatives (U.S. House) passed several pieces of bipartisan legislation aimed at providing regulatory relief to lenders and strengthening consumer protection. This legislation included...more

Energy & Commerce Committee Approves Bipartisan Health Bills

On July 29, 2015, the House Energy & Commerce Committee approved the following bipartisan bills that aim to improve health care for newborns, infants, and children...more

Legislative Update Tax Reform—A Work in Progress

With high tax rates and a worldwide (as opposed to territorial) system of taxation, U.S. corporate tax laws encourage new multinational corporations to organize outside the U.S. and encourage existing U.S. corporations to...more

The Second Obama Term: President Outlines Major Immigration Overhaul

Second term begins with an increased focus on immigration issues; Congress signals bipartisan agreement on similar principles. On January 29, just a few weeks after President Barack Obama reconfirmed his commitment to...more

Comprehensive Immigration Reform On The Rise

Earlier this week heralded the announcement, long-awaited, of potential immigration reform on a comprehensive scale. The bi-partisan proposal seeks to address the issues faced by the 11 million illegal immigrants currently...more

Senators Reach a Bipartisan Agreement for Comprehensive Immigration Reform

A bipartisan group of eight senators has reached an agreement for legislation that could be the beginning of the comprehensive immigration reform we have all been waiting for. The proposal was announced on Monday and...more

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