Find out more information about  
MARCUM LLP
Fill out this form and a representative will contact you.
*
*
*
*
*
Captcha Image
 
Contact Us
Blog Home | Insights & Alerts | As Seen In | Press Releases

The Senate has passed the short-term highway funding bill, providing a three-month extension of general expenditure authority for the Highway Trust Fund. This bill was signed by President Obama on July 31, 2015.

Included in the bill are a number of significant tax compliance provisions, which the Congressional committees estimate will raise about $5 billion in revenue. 

Continue Reading >>

Comments (0)    

In a sign that the government is continuing its aggressive search for illegal kickbacks, 2 Philadelphia MRIs plead guilty to paying for referrals.

The owners of two South Jersey MRI facilities pleaded guilty Thursday to paying more than $30,000 to a doctor for patient referrals, according to the U.S. Attorney’s Office. Norman Brettler, 67, of Cherry Hill and Lee Getson, 62, of Southampton each pleaded guilty in Camden federal court to one count of conspiracy to pay kickbacks. Brettler and Getson owned Positioned Imaging Associates in Toms River and Tilton Dynamic Imaging in Northfield. 

Continue Reading >>

Comments (0)    

A new study by LDI Senior Fellow Lawton Burns and colleagues challenges the conventional wisdom about the societal benefits and comparative advantages of integrated delivery networks (IDNs). A literature review and detailed analysis of financial and quality indicators found “scant evidence” of improved quality, lower cost per case, or greater societal benefit.

A new study by LDI Senior Fellow Lawton Burns and colleagues challenges the conventional wisdom about the societal benefits and comparative advantages of integrated delivery networks (IDNs).  A literature review and detailed analysis of financial and quality indicators found “scant evidence” of improved quality, lower cost per case, or greater societal benefit. 

Continue Reading >>

Comments (0)    

On Friday, March 13th, 2015, CMS issued Transmittal number 7 to the Provider Cost Reporting Forms and Instructions, Chapter 40, Form CMS-2552-10. Transmittal 7 is effective for cost reporting periods ending on or after October 1, 2014.

The transmittal is available at the CMS website: http://www.cms.gov 

Continue Reading >>

Comments (0)    

While far from perfect, the attached announcement from CMS makes it clear that imperfection will not lead to complete claims denial.

Practices need to still move forward with implementation and training, and we suggest that all haste be continued, but the CMS announcement indicates that errors of a mild nature won’t create mass rejection of claims.  Practices still need to make sure a proper ICD-10 code is used (even if it turns out it in not the PERFECT code for the diagnosis), but the detail may be off a little and not cause mass denials.  We think it’s a wait and see, as the intermediaries are just getting this information now, as well as the public, but it’s better than nothing.  Plan.  Be Prepared.  Be ready for cash flow disruptions which may still occur.  That’s what the message is today. 

Continue Reading >>

Comments (0)    

Taxpayers under examination who are seeking to file a change of accounting method should begin filing this week, based on newly established filing time windows established by a new IRS guidance issued in June 2015. Under new Rev. Proc. 2015-33, taxpayers now have a three-month period in which to file for a change in accounting method and receive audit protection, running from July 15th to October 15th.

In January 2015, the IRS issued Revenue Procedure 2015-13, which changed the rules for companies under examination seeking an accounting method change. (Rev. Proc. 2015-13 "clarifies, modifies and supersedes" Rev. Proc. 2011-14, which was the previous procedure for all accounting method changes). The new procedure changed the rules for when a taxpayer under examination who is filing Form 3115 "Application for Change in Accounting Method" receives audit protection. 

Continue Reading >>

Comments (0)    

Two new international trade bills were recently enacted into law last week and another is in the process of reconciliation. The Bipartisan Congressional Trade Priorities and Accountability Act of 2015 and the Trade Preferences Extension Act of 2015 were passed by Congress prior to the July 4th recess. These bills were signed by the President on June 29th. A third trade bill - the Trade Facilitation and Enforcement Act of 2015 - is currently in conference to resolve House and Senate differences.

The enacted bills contain several individual and business tax provisions: 

Continue Reading >>

Comments (0)    

The Centers for Medicare & Medicaid Services (CMS) released the Calendar Year (CY) 2016 Hospital Outpatient Prospective Payment System (OPPS) and Ambulatory Surgical Center (ASC) Payment System policy changes, quality provisions, and payment rates proposed rule [CMS-1633-P] on July 1, 2015.

The CY 2016 OPPS/ASC proposed rule proposes updates to Medicare payment policies and rates for hospital outpatient departments (HOPDs), ASCs, and partial hospitalization services provided by community mental health centers (CMHCs), and refinements to programs that encourage high-quality care in these outpatient settings. Approximately 3,800 hospitals and 60 CMHCs are paid under the OPPS, while approximately 5,300 ASCs are paid under the ASC payment system. The OPPS provides payment for most HOPD services, including partial hospitalization services furnished by HOPDs and CMHCs. OPPS payment amounts vary according to the Ambulatory Payment Classification (APC) group to which a service or procedure is assigned. 

Continue Reading >>

Comments (0)    

The Affordable Healthcare Act of 2010 ("the Act" or "ACA") prohibits doctor-owned hospitals from expanding, and prevents new doctor-owned hospitals at all, if they are going to serve Medicare or Medicaid patients. The law, passed in 2010, blocked building any new physician owned hospitals and prevented existing ones from adding beds or operating/procedure rooms in order to qualify for Medicare payments.

Hospitals with physician ownership as of March 23, 2010, are grandfathered for the same percentage of physician ownership they had on that day. For example, if a hospital had 20% physician ownership on March 23, 2010, the ACA allows it to keep 20% physician ownership without violating the law, but the percentage of physician ownership cannot increase beyond 20 percent. If the hospital was not yet enrolled in Medicare as of March 23, 2010, it had until December 31, 2010, to enroll and whatever percentage of physician ownership it had at that time was the maximum amount it could have in the future. The ACA bars any new physician ownership in hospitals after December 31, 2010.  

Continue Reading >>

Comments (0)    

The Tax Increase Prevention Act (“TIPA”), enacted on December 19, 2014, retroactively extends several tax incentives that expired at the end of 2013. Among the key features of TIPA is a provision extending benefits to eligible investors in Qualified Small Businesses.

Originally enacted in 1993, Internal Revenue Code Section 1202, which covers the Qualified Small Business rules, was intended to encourage investment in small businesses by providing a 50% exclusion of gain resulting from the sale of a qualified small business stock (“QSBS”) held for more than five years.  In order to qualify, the corporation must use at least 80% of the value of its assets in an active conduct of a qualified trade or business, and its aggregate gross assets cannot exceed $50 million after the stock is issued. 

Continue Reading >>

Comments (0)    
TAX & BUSINESS
ASSURANCE
ADVISORY
ALTERNATIVE INVESTMENTS
FINANCIAL INSTITUTIONS
HEALTH CARE LEGISLATIVE UPDATE
 
 
Privacy | Legal | Sitemap | Secure Mail