The trend in health care is increased governmental regulation making it imperative for health care providers and insurers to understand patient rights. The Patient Self Determination Act of 1990 significantly advanced patient rights, while the Affordable Care Act...
PLDO Law Blog
Month: June 2014
As the Pendulum Swings: The Bribery Backlash to the Honest Services Doctrine
'T was not so long ago that we saw an insurance company lobbyist in Massachusetts find himself convicted of Wire and Mail Fraud as a result of his company picking up the tab for golf and entertainment junkets to Puerto Rico by the Chairman of Massachusetts House...
Health Care is Not a Simple Matter
Health care and health insurance are evolving and becoming increasingly more fragmented because of the enactment of the Patient Protection and Affordable Care Act (ACA). Prior to the ACA, a majority of U.S. citizens maintained primary health insurance...
Automatic Revocation of Tax-Exempt Status: A New Streamlined Process for Retroactive Reinstatement
Federal law mandates that most tax-exempt organizations file annual returns with the Internal Revenue Service (IRS). Following the enactment of the Pension Protection Act of 2006, and commencing in the 2007 tax year, tax-exempt organizations which fail to file...
HOW LIFE INSURANCE PROCEEDS COULD AFFECT A COMPANY’S VALUATION FOR ESTATE TAX PURPOSES
A recent case brought to light the impact that a stock-purchase agreement and life insurance proceeds may – or may not - have on the valuation of a closely held company for estate tax purposes. In this case that caused a split between the 8th and 11th Circuits, the...
HASTE MAKES WASTE . . . CASH THE CHECK.
One never knows what corner the grim reaper lies behind. A final illness can often accelerate quickly and deprive a donor of adequate time to complete gifts for tax purposes that he intended to make. In a recent federal court case, the Third Circuit Court of Appeals...
ATTENTION SNOWBIRDS: DO YOU PASS THE DOMICILE TEST?
“A person doesn't know how much he has to be thankful for until he has to pay taxes on it.” This anonymous quote is timely. It is rumored that the Rhode Island Division of Taxation (“the Division”) is reviewing its procedures for determining whether a Rhode Islander...
HOW CLOSELY HELD BUSINESSES CAN PREVENT MANAGEMENT DEADLOCKS
Differences in opinion on how to achieve a stated goal in a closely held business can lead to disputes that block the enterprise from moving forward. Closely held businesses are characterized by a limited number of shareholders and a lack of public trading. The...
WHY ESTATE PLANNING FOR BUSINESSES IS CRITICAL (NOT OPTIONAL)
Owning your own business can be extremely demanding. From your customers to your employees, there’s hardly enough time in the day. While most entrepreneurs are consumed by the day-to-day challenges of running their businesses, they often neglect the critical task of...
