The health care law added Sec. 501(r), which mandates that, to keep their tax-exempt status, tax-exempt hospitals must comply with certain rules, including developing financial assistance plans that are well-publicized. Those requirements are the subject of recently issued regulations discussed here.
Daniel Mayo, Jeff Millen and Rowan Liu of KPMG explain how pension funds and other institutional investors with tax-exempt status could be negatively affected by proposed changes in the way financial products are taxed in the U.S. "Pension funds should be aware of the indirect impact any reform on financial products taxation may have on the market and, in turn, fund performance," Mayo, Millen and Liu write.
Corruption and bribery are perceived to be on the rise in many countries, and regulators have increased enforcement of anti-corruption laws as more companies of all sizes do business globally, research suggests. To safeguard against corruption by employees or third parties, a white-collar-crime litigator recommends following three steps.
Municipal bond issuers are exploring the idea of a "Hurricane Sandy Recovery Bond," which would permit municipalities and states to use tax-exempt financing to rebuild after last month's storm. Many hope a recovery-bond approach will show Congress that municipal bonds need to retain their tax-free status. Learn what you can do and what the industry has done to help with storm relief.
The end of 2012 could mean the end of the current low-income and capital-gains tax rates and the reduction of the $5 million estate and gift tax exemption to $1 million, among many other scheduled tax changes. Now is the time for clients to be planning for 2013. Here's a handy checklist of tax issues clients should be thinking about now.