| | Chair's Column
by Gregory L. Pemberton, Ice Miller, Indianapolis, IN I received an email message recently from an attorney named Kathy. It asked in part, "I am a member of the ABA Health Law Section and am interested in getting more involved with the Section. I would appreciate any advice you have on how to do that." With my thanks (and apologies for doing so), I will publicly try to answer Kathy's question.MORE  |
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| Public Charities with Partnership Investments – Tax and Reporting Obligations
by Gwen Spencer, PricewaterhouseCoopers LLP, Boston, MA Section 501(c)(3) public charities, including healthcare organizations, continue to view alternative investments, often limited partnerships, as a viable approach to diversifying their investment portfolios. Although organizations often report federal unrelated business income (“UBI”) that arises from limited partnership investments, they may not be aware of obligations associated with state UBI tax, reportable transactions disclosure, and foreign reporting. In the past, organizations may have weighed the federal tax costs, and possibly the state tax costs, against investment returns. Even more importantly now, however, organizations need to manage the risks associated with the failure to make appropriate disclosures of reportable transactions and certain investments in foreign organizations. The failure to meet these filing requirements, particularly the failure to disclose reportable transactions, may result in the imposition of steep penalties. MORE |
| How The 2005 Bankruptcy Abuse Prevention And Consumer Protection Act Affects Planning For Physicians And Physician Practices
by Alan S. Gassman JD, LL.M, Gassman, Bates & Associates, P.A., Clearwater, FL and Justin Taylor Pikramenos, Stetson University College of Law in Gulfport, FL The 2005 Bankruptcy Abuse Prevention and Consumer Protection Act (BAPCPA) significantly affects planning for physicians who have to consider filing bankruptcy because of malpractice judgment or other financial issues. The specter of malpractice claims resulting in judgments exceeding policy limits has increased as physicians will now find the process of discharging their debt through bankruptcy more difficult while maintaining ownership of significant assets. MORE |
| Interest Group Spotlight Tax & Accounting The Tax & Accounting Interest Group focuses on the various challenges facing the Health Care industry from a tax and regulatory perspective. Specific topics include the exempt organization issues facing providers that operate on that basis, the accounting treatment of health care providers in light of pronouncements by the AICPA, and the various state laws subjecting operations and purchasing to state and local taxes. Efforts are also expended in monitoring legislative and regulatory developments. Finally, the Interest Group will serve as a forum for debate and exchange on topics identified by the membership within this general topic. The IG is led by Chair David M. Flynn, Duane Morris LLP, Philadelphia, PA and Vice Chairs Michael A. Clark, Sidley Austin Brown & Wood LLP, Chicago, IL; Robert W. Friz, Pricewaterhouse Coopers LLP, Philadelphia, PA; Laura Gabrysch, Fulbright & Jaworski LLP, San Antonio, TX; Karen B. McAfee, Gardner Carton & Douglas LLP, Washington, DC and John F. Reilly, Internal Revenue Service, Washington, DC. If you would like to join the Interest Group, continue by clicking the following link: Health Law Section IG Sign-up Form. |
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The opinions expressed are those of the authors and shall not be construed to represent the policies or positions of the ABA or the ABA Health Law Section.
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