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Latest News2018-06-28T17:35:30+00:00

Latest News

Shareholder Liable for Corporate Judgment

December 23rd, 2014|

Submitted by: Tom Christensen The Illinois Appellate Court recently held that even a non-shareholder in a corporation can be held personally liable under corporate veil piercing principles. In Buckley v. Abuzir, the plaintiff had obtained [...]

Smart Phone App for Advance Medical Directives

December 22nd, 2014|

Submitted by: Kathleen "Katie" May The ABA Commission on Law and Aging has launched My Health Care Wishes, a smart phone app that allows individuals to store and access their health care advance directive documents [...]

AHA Files Suit Challenging Two-Midnight Rule

April 14th, 2014|

Posted by: Kathleen "Katie" May The American Hospital Association filed two lawsuits in the US District Court  for the District of Columbia regarding the “two-midnight” rule employed by Medicare. This rule requires a physician to [...]

Tax Freedom Day

April 13th, 2014|

Posted by: Heinz Brisske Tax Freedom Day is ostensibly the day on which we have collectively earned enough income to pay off all our federal and state taxes; all the income earned after Tax Freedom [...]

IRS Publishes Top Tax Scams

April 12th, 2014|

A letter from IRS Commissioner John Koskinen dated February 19 listed multiple potential scams that victimize American taxpayers. Each year, the IRS publishes a list of top tax scams, and this year, Koskinen indicated that [...]

Are you ready for the new Health Care Law?

April 10th, 2014|

The Affordable Care Act, commonly referred to as “Obamacare,” looks like it is here to stay. Affected companies will have to offer health insurance required by the Act beginning in 2014. Have you started to [...]

Portability Election Extended for Surviving Spouses

April 9th, 2014|

The Internal Revenue Service has issued Rev. Proc. 2014-18, which addressed two related issues: First, it provides a method for an extension of time to elect portability of a decedent’s unused exclusion amount (DSUEA) for [...]

Will myRA Encourage Retirement Savings?

April 8th, 2014|

In his State of the Union Address at the end of January, 2014, President Obama proposed a new retirement plan called "myRA." Designed to help increase retirement savings for Americans who do not have a [...]

Greatest IRS Challenge: Identity Theft

April 7th, 2014|

"Identity theft is one of the biggest challenges facing the IRS today." That statement was made by IRS Principal Deputy Commissioner Daniel Werfel on August 2, as he testified before the House Oversight and Government [...]

President Obama’s Ideas for the Federal Estate Tax

April 6th, 2014|

The President’s overdue budget proposal for fiscal 2014 was recently released. No one was surprised that it included a wide array of proposals for getting more tax revenue from “the rich.” However, some of the [...]

LTC Commission Second Hearing

April 6th, 2014|

On July 17th, the Long Term Care Commission, comprised of 15 appointees, held their second hearing on “Populations in Need of LTSS (Long-Term Service and Supports) with two separate panels of witnesses. The Commission is [...]

How Married Couples Can Boost Their Social Security Benefits

April 5th, 2014|

There are strategies available that can help married couples increase their Social Security benefits when they retire. This article explores a few such strategies. You are encouraged to discuss the full range of options available [...]

Health Care Reform Presentation at Frankfor Chamber of Commerce

April 4th, 2014|

Attorneys Aaron Ruswick and Whitney Schmidt along with Stumm Insurance, LLC, presented to over 50 members of the Frankfort Chamber of Commerce at the Frankfort Educational Networking Symposium on May 15, 2013. The presentation included [...]

White House Names Remaining LTC Commission Members

April 3rd, 2014|

The remaining three members of the Commission on Long-Term Care have been selected by President Obama. The selection of these individuals adds to the previously appointed members and completes the 15-member body. With appointments complete, [...]

IRS Cracks Down on Identity Theft

April 2nd, 2014|

The IRS has announced that it is cracking down on suspected identity thieves. In January of 2013 there were 734 enforcement actions. During the past fiscal year, there have been 109 arrests and 189 indictments. [...]

MetLife Releases Annual Survey of Long-Term Care Costs

April 1st, 2014|

This survey provides national, statewide, and area-specific, within certain states (based on population), average daily rates for private and semi-private rooms in a nursing home, monthly base rates in assisted living communities, hourly rates for [...]

Senate Meetings to Avoid Fiscal Cliff

March 27th, 2014|

A "Gang of Eight" Senators have been meeting to prepare a comprehensive budget and tax proposal. Four Democratic and four Republican Senators representing the whole spectrum of the Senate are diligently seeking a solution. Democratic [...]

DOL issues

March 26th, 2014|

You may have noticed that your FMLA notice and certification forms have an expiration date of December 31, 2011. No need to worry though. The DOL has issued “new” forms. These forms are virtually identical [...]

Coordinating FMLA leave and ADA obligations

March 25th, 2014|

As any human resources professional will attest, complying with the FMLA is an administrative headache. The law is complicated and difficult to follow. However, the one part of the FMLA that is easy to understand [...]

NLRB Poster effective date on hold – Again

March 24th, 2014|

Good news for employers.  The effective date of the new NLRB poster is again on hold, thanks to two recent federal court decisions.  As I discussed in a previous post, the deadline for posting the new [...]

Medicare Open Enrollment

March 23rd, 2014|

Medicare Open Enrollment runs from October 15 through December 7. Now is the time for beneficiaries to compare plans and make sure they have the right health and prescription drug coverage. Beneficiaries may stay with [...]

U.S. Works to Limit Stolen Identity Refund Fraud

March 22nd, 2014|

With the increase in electronic filing, stolen identity refund fraud is becoming a major and growing problem. Identity thieves obtain information about other individuals, such as their Social Security numbers and names, and then file [...]

Identity Theft Takes $11 Billion From IRS

March 21st, 2014|

At a May 8 Congressional hearing, Russell George, the Treasury Inspector General for Tax Administration (TIGTA), indicated that, in tax year 2010, 2.2 million fraudulent returns were filed. About 940,000 returns involved identity theft. Fraudulent tax [...]