Refunds

News & Analysis as of

No Refund Of Extension Overpayment Followed By A Code §6166 Election

If an estate files to extend the due date of its Form 706 estate tax return, it can elect to defer the portion of the estimated estate tax that will be deferred pursuant to its Code §6166 election. It does not make the...more

Medicare’s 60-Day Proposed Refund Rule Imposes Significant Liability on Providers

As part of the Affordable Care Act, Congress outlined the process for providers to return Medicare and Medicaid overpayments. In 2012, CMS proposed the 60-day Refund Rule, as it is commonly known, requiring Medicare providers...more

Stay Tuned: Connecticut Bill Would Require Cash Refunds of Gift Card Balances

Connecticut may join a number of states that currently require merchants to provide the remaining balances on gift cards to consumers in cash upon request....more

The Stimulus Shall Continue: IRS Gives OK to Current Refundings of Recovery Zone Facility Bonds

The Internal Revenue Service has announced in Notice 2014-9 that current refunding issues of Recovery Zone Facility Bonds qualify as tax-exempt provided that the current refunding issue meets certain requirements. Generally,...more

IRS Releases Guidance on Current Refunding of Recovery Zone Facility Bond Issues

On January 13, 2014, the IRS released Notice 2014-9 which contains guidance on the refunding of Recovery Zone Facility Bonds (“RZFBs”) with another issue of RZFBs if certain conditions are met....more

CFPB Announces Healthcare Credit Card Enforcement Action Over Deferred-Interest Financing

On December 10, the CFPB released a consent order with a federal savings association, pursuant to which the bank will refund approximately $34 million to more than one million credit card holders who were enrolled in...more

Reinsurance Newsletter - December 2013: New York Federal Court Special Discovery Master Makes Privilege Determinations

Harbinger F&G, LLC v. OM Group (UK), No. 12-CV-5315 (AJP), 2013 U.S. Dist. LEXIS 132009 (S.D.N.Y. Aug. 22, 2013). A parent corporation sold to a purchaser one of its subsidiaries, a Maryland domiciled life insurance...more

"Meaningful" Errors Require Hospital System To Refund $31M

In what is reported to be the largest repayment to date involving "meaningful use" incentive payments, Naples, Florida-based Health Management Associates, Inc. ("HMA"), with 71 inpatient facilities in 15 states, including...more

Second Circuit Reaffirms Taxpayer’s Use of Protective Refund Claims

On September 9, 2013, the U.S. Court of Appeals for the Second Circuit held that the District Court had jurisdiction to hear the taxpayer’s case based on the taxpayer’s use of a protective refund claim....more

Tengberg, Celentino, and Bistrow Author Article on Restructuring Private Golf Clubs

Partners Van A. Tengberg, Christopher Celentino, and Mikel R. Bistrow authored an article in the July 2013 issue of Golf Inc. Monthly titled, “Restructuring the Private Club: How to Deal With Refundable Membership Liability.”...more

Renewable Energy Update -- May 7, 2013

Renewable Energy Focus - Providing a level playing field for renewables - PV-Magazine - Apr 26: U.S. Senators have decided to level the playing field for renewable energy sources by providing investors in renewable...more

Sutherland SALT Shaker: April 2013 Digest

In this issue: - California Court of Appeal: No Man May Profit From His Own Wrongdoing in a Court of Justice - The (True) Object of My Affection: A Nontaxable Stock Screening Service - Alternate Universe...more

Texas Taxpayers May See Relief

A Texas District Court recently interpreted the Texas Tax Code and determined a particular Texas Comptroller's Rule improperly narrows the state statute. The Texas Comptroller's Rule 3.589(c)(2) effectively required taxpayers...more

Opportunities for Real Estate Transfer Tax Refunds in Pennsylvania

Taxpayers that paid Pennsylvania or Philadelphia real estate transfer tax on certain transactions involving real property located in Philadelphia during the period July 1, 2012 through January 5, 2012 may be entitled to...more

Sixth Circuit Denies Government Motion for Rehearing in Quality Stores Employment Tax Challenge

The Sixth Circuit has unanimously and summarily denied a Government request for en banc rehearing of a taxpayer-favorable ruling in United States v. Quality Stores, Inc., 693 F.3d 605 (6th Cir. Sept. 7, 2012)....more

IRS Provides Administrative Guidance On Excludable Transportation Benefit Limits, Retroactively Increased As Of January 1, 2012

On January 16, 2013, the Internal Revenue Service (IRS) issued Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit benefits. Under Section 132(f) of the Internal Revenue Code...more

Employers Can Obtain Refund for Excess FICA Tax Paid as Result of Increased Excludable Limit for Transit Benefits

On January 11, 2013, the Internal Revenue Service published Notice 2013-8 providing a special administrative procedure for employers with respect to 2012 transit pass benefits. The American Taxpayer Relief Act retroactively...more

Advertising News & Analysis - January 10, 2013

In this issue: - Old Rules Still Apply to New Technologies - NAD Says It Won’t Demur Just Because a Regulator OKs Language - Toys“R”Us Settlement Exposes Dark Side of Refund Policies - Hollister Gift Card...more

Court Rules in Favor of Employers in Class Action Group Rating Case

The decision is in and the employers won. Judge Richard McMonagle decided the Bureau of Workers’ Compensation (“BWC”) overcharged employers who did not participate in group rating from 2001 to 2009. Many of those could now...more

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