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IRS

Proposed Regulations Released for Code 512 Regarding the ‘Silo’ Rules for UBTI

[04/23/20]

Posted on April 23, 2020 in Health Law News

Published by: Hall Render

On April 23, 2020, the Department of Treasury and the Internal Revenue Service issued proposed regulations related to the ‘silo’ rules for Unrelated Business Taxable Income (“UBTI”). Under Internal Revenue Code (“Code”) Section 512(a)(6), as added to the Code through the Tax Cuts and Jobs Act in 2017, tax-exempt organizations must calculate their UBTI... READ MORE

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IRS Confirms Filing Extensions for Tax-Exempt Organizations

[04/23/20]

Posted on April 23, 2020 in Health Law News

Published by: Hall Render

The Department of Treasury (“Department”) and Internal Revenue Service (“IRS”) have confirmed that tax-exempt organizations have an extension until July 15, 2020 to file their Forms 990-series annual information returns, as well as various other returns. While certain aspects of this relief are automatic, tax-exempt hospitals and other tax-exempt organizations should consider their particular... READ MORE

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IRS Extends Deadlines for 1031 Exchanges and Opportunity Zone Investments

[04/21/20]

Posted on April 21, 2020 in Health Law News

Published by: Hall Render

On April 9, 2020, the Internal Revenue Service (“IRS”) released Notice 2020-23 (the “Notice”), which provides additional relief for real estate investors affected by the ongoing COVID-19 pandemic. Among other actions, the Notice extends the deadline until July 15, 2020 for certain time-sensitive real estate investments with due dates occurring between April 1, 2020... READ MORE

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Treasury and IRS Issue Additional Guidance on Employer Tax Credits

[04/03/20]

Posted on April 3, 2020 in Health Information Technology

Published by: Hall Render

In response to the COVID-19 pandemic, the Department of the Treasury and the Internal Revenue Service (“IRS”) recently issued several pieces of guidance this week on the various tax credits established for employers under the Families First Coronavirus Relief Act (“FFCRA”) and the Coronavirus Aid, Relief, and Economic Security Act (“CARES Act”). Below is... READ MORE

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COVID-19 and the Use of Leave-Sharing Plans

[03/27/20]

Posted on March 27, 2020 in HR Insights for Health Care

Published by: Hall Render

As employers and employees continue to grapple with the spread of COVID-19, an employer‑sponsored leave-sharing program can be a good tool to help alleviate the strain on employee populations that encounter circumstances where they need time away from work. If structured and administered properly, certain leave-sharing arrangements allow employees to donate PTO, medical leave... READ MORE

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Departments Announce Preliminary Information For Implementation of New Paid Leave Laws and Tax Credits Relating to COVID-19

[03/24/20]

Posted on March 24, 2020 in Health Law News

Published by: Hall Render

On Friday, March 20, 2020, the Treasury Department (“Treasury”), Internal Revenue Service (“IRS”) and the Department of Labor (“Labor”) issued a news release that offered very preliminary information about the implementation plan for the paid leave and related payroll tax credit provisions contained in the Families First Coronavirus Response Act (the “Act”), which was... READ MORE

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UPDATE: April 15th Federal Filing Deadline Extended to July 15, 2020

[03/20/20]

Posted on March 20, 2020 in Health Law News

Published by: Hall Render

On the heels of the announcement earlier this week by the Treasury Department (the “Treasury”) and the Internal Revenue Service (the “IRS”) that delayed the Federal tax payment deadline from April 15, 2020, to July 15, 2020, Treasury Secretary Steve Mnuchin has signaled on Twitter that the corresponding filing deadlines will also be automatically... READ MORE

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Federal Tax Payment Deadline Extended to July 15, 2020

[03/19/20]

Posted on March 19, 2020 in Health Law News

Published by: Hall Render

Click here for information on the filing deadline extension. Separately from the enactment of the Families First Coronavirus Response Act by Congress on Wednesday, March 18, 2020, the Treasury Department and the Internal Revenue Service (“IRS”) issued Notice 2020-17 to provide special payment relief to individuals and businesses in response to COVID-19. Under the... READ MORE

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What Can I Put Away for Retirement Next Year? IRS and Social Security Administration Release 2019 Limits

[11/13/18]

Posted on November 13, 2018 in HR Insights for Health Care

Published by: Hall Render

Have you ever asked or been asked, “What can I put away for my retirement next year?” The answer could be different for almost every year. Most of the limitations in the Internal Revenue Code are indexed with inflation. They increase in many years but not all. The IRS and Social Security Administration have... READ MORE

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IRS Approves Student Loan Repayment Feature for a 401(k) Plan

[08/29/18]

Posted on August 29, 2018 in HR Insights for Health Care

Published by: Hall Render

A concern for many workers today is the student loan burden they carry. Many employees, both young and old, are paying off large student loan balances rolled up in pursuing undergraduate and graduate college degrees. As the cost of college education continues to increase at rates that surpass the general inflation rate in the... READ MORE

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