On January 30, 2014, Governor Snyder signed into law Senate Bill No. 337 (the “Act”). The Act, recorded as Public Act 3 of 2014, amends sections MCL 205.201, 205.27a and 205.30 relating to tax clearance procedure, responsible officer liability for unpaid Michigan taxes, successor liability for purchasers of a business, audit procedure, claims for refund and other sections of Michigan law.
Month: February 2014
Affordable Care Act: Presentation on Recent Changes & Deadlines
Final regulations recently announced by the Obama Administration give two levels of delay to employers who had previously been required to offer insurance coverage to their employees next year. With this second round of delays, comes a second wave of questions from employers.
This week, Attorney Michael James and Rehmann Group’s Don McAnelly addressed key Affordable Care Act regulations and deadlines in a webinar.
Continue reading Affordable Care Act: Presentation on Recent Changes & Deadlines
Major Changes to the Affordable Care Act
In a major announcement last week, the Obama Administration again delayed the employer-shared responsibility mandate for some large businesses. We invite local businesses and the media to join us, as we partner with Rehmann for a webinar addressing these changes, along with key Affordable Care Act regulations and deadlines.
What: Rehmann Live! ACA Impact: Update on the Affordable Care Act
When: Tuesday, February 18, 2014 2pm-3pm
Where: Webinar (click here to register)
Presenters: Attorney Michael P. James, Don McAnnelly, Rehmann
Fraser Trebilcock also offers resources for businesses and the media on our website, fraserlawfirm.com.
To find out more about the impact that the Affordable Care Act has on health care and your business, contact Health Care Department Chair Jonathan Raven at jraven@fraserlawfirm.com or 517.377.0816, or our Employee Benefits Department Co-Chair Elizabeth H. Latchana at elatchana@fraserlawfirm.com or 517.377.0826.
IRS Final Regulations on Employer Shared Responsibility Released
On February 10, 2014, the United States Department of Treasury issued its final rules concerning the shared responsibility requirements for employers regarding health coverage under the Affordable Care Act. Although these regulations affect numerous aspects of health care reform and its applicability to various employers, we have identified some of the most important changes that you should be aware of.
Continue reading IRS Final Regulations on Employer Shared Responsibility Released
IRS Issues Extension for Certain Taxpayers to Make a Portability Election
The IRS recently issued an official statement extending the deadline for certain taxpayers to make a “portability” election of their deceased spouse’s unused federal estate tax exclusion amount (or DSUE amount). The portability election allows the decedent’s spouse to apply the DSUE amount to their own transfers during life and death (except for generation skipping transfers). See Rev. Proc. 2014-18.
The deadline for making the portability election under this new IRS procedure is December 31, 2014. This extension of time applies to those decedents who died with a surviving spouse; died after December 31, 2010 and on or before December 31, 2013; was a citizen or resident of the United States on the date of death; and had a gross estate which includes taxable gifts at date of death of under $5,000,000, as adjusted for inflation in each year after 2011.
If your spouse died in 2011, 2012, or 2013, his or her estate may qualify for the portability election. “Spouse” includes an individual legally married to a person of the same gender, even if no longer residing in a state where same-gender marriage is recognized.
Given the quickly approaching extension deadline, we urge you to call us to talk about this issue.
For more information about portability elections and the new extension, call attorney Marlaine C. Teahan at 517-377-0869. You can also email her at mteahan@fraserlawfirm.com.
ACA Impact: Update on the Affordable Care Act Webinar
The Affordable Care Act continues to usher in sweeping changes for the public and nonprofit sector. Leaders need answers on how the ACA is going to impact their operations. Multiple regulations and shifting timetables, however, make it difficult to measure – and almost impossible to predict – what those changes can mean for you.
Join Fraser Trebilcock as we partner with Rehmann for a webinar that addresses the key ACA regulations and deadlines.
This is also an opportunity to get your most difficult questions answered during the live Q&A session with the presenters, including Fraser Trebilcock Attorney Michael P. James.
To register for the event, click here.
To find out more about the impact that the Affordable Care Act has on health care and your business, contact Health Care Department Chair Jonathan Raven at jraven@fraserlawfirm.com or 517.377.0816, or our Employee Benefits Department Co-Chair Elizabeth H. Latchana at elatchana@fraserlawfirm.com or 517.377.0826.