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May 2014 – Loeb & Troper Presents at NYSAIS Business Affairs Conference
Loeb & Troper LLP is pleased to announce that Joe Blatt, CPA, Partner, will co-present, "The Lean, Mean, School Finance Machine: Efficiency and Organization in the Small Business Office” at the NYSAIS Business Affairs Conference on May 1st.
May 2014 – Loeb & Troper Presents at the American Payroll Association
Loeb & Troper LLP is pleased to announce that Bernard Grotell, CPA, Partner, will co-present, "Payroll and the Sarbanes-Oxley Act” at The American Payroll Association’s 32nd Annual Congress on May 16th.
March 2014 – Steven Herbst, Director of Managed Care, Presents at the Leading Age NY Financial Managers Conference
Loeb & Troper LLP is pleased to announce that Steven Herbst, Director of Managed Care, will present, "Managed Care Contracting & Operating Issues” at the March 10, 2014 Leading Age NY Financial Managers Meeting.
February 2014 – Metropolitan Commuter Transportation Mobility Tax Upheld
The New York Court of Appeals recently ruled that the Metropolitan Commuter Transportation Mobility Tax ("MCTMT") as enacted by the New York Legislature was not in violation of certain provisions of the New York State Constitution. This reversed an earlier ruling by the New York State Supreme Court, Nassau County that the MCTMT legislation was unconstitutionally enacted.
December 2013 – Nonprofit Revitalization Act of 2013 Signed Into Law
New York State Attorney General Eric T. Schneiderman’s Non Profit Revitalization Act of 2013 was signed into law on December 18, 2013 by Governor Andrew M. Cuomo. The law applies to non profits incorporated in New York State, additionally some provisions apply to all non profits registered to solicit charitable solicitations in New York State. The law includes extensive reforms that will address two opposing challenges that have long plagued the sector; a lack of oversight and transparency in some areas and undue administrative burdens in other areas. For more information, read more
September 2013 – Required Notice of Health Insurance Exchanges due October 1
The Affordable Care Act (ACA) added a section to the Fair Labor Standards Act (FSLA) which requires employers who are subject to FSLA to provide notice to their employees about health insurance marketplaces (exchanges). This FSLA exchange notice must be made to all current employees on or before October 1, 2013 and to any new employee hired thereafter.
July 2013 – Metropolitan Commuter Transportation Mobility Tax (MCTMT): Appeals Court Upholds MTA Payroll Tax
An appellate court has ruled that Metropolitan Commuter Transportation Mobility Tax (MCTMT) for the Metropolitan Transit Authority is constitutional, reversing a lower court’s ruling. The lower court found that the tax was a special law that did not serve a substantial state interest. However, the appellate court concluded that the law, which provides a funding source for the preservation, operation, and improvement of essential transit and transportation services in the Metropolitan Commuter Transportation District, does serve a substantial state concern. Therefore, the law was not unconstitutionally passed without a home rule message. Nassau County plans to challenge the appellate court’s decision upholding the MTA’s payroll mobility tax and will appeal the ruling.
June 2013 – IRS Accepting Applications for 403(b) Plan Opinion and Advisory Letters
The Internal Revenue Service (IRS) issued a Revenue Procedure that sets forth their procedures for issuing opinion and advisory letters for 403(b) prototype plans and volume submitter plans. Applications for the opinion and advisory letters begins June 28, 2013. To access an overview of the Revenue Procedure, please click: http://www.irs.gov/pub/irs-drop/rp-13-22.pdf. The IRS also issued an information package to assist sponsors who are drafting pre-approved 403(b) plans with a view toward accelerating the review and approval of the plans. The IRS information package may be accessed by clicking: http://www.irs.gov/pub/irs-tege/403b_lrm0313.pdf. For further information, please contact Harold Gelernter, CPA, Partner, at email@example.com (Harold is the partner designee to the AICPA Employee Benefit Plan Audit Quality Center).
June 2013 – Reminder: Deadline for filing TD 90-22.1, Report of Foreign Bank and Financial Accounts, (FBAR) is June 30, 2013
Any U.S. person with a financial interest in, or signature authority or other authority over, any foreign financial account(s) in a foreign country and the aggregated value of these account(s) exceeds $10,000 at any time during the calendar year must file Form TD 90-22.1, Report of Foreign Bank and Financial Accounts. Foreign financial account(s) include, but are not limited to, a checking/savings bank account, brokerage account, mutual fund, trust, or other type of foreign financial account. A U.S. person includes a U.S. citizen, a foreign national who is a U.S. tax resident and a U.S. entity. If you have a financial interest in, or signature authority over, a foreign financial account (the "foreign accounts"), including a bank account, brokerage account, mutual fund, trust, or other type of foreign financial account, you may be required to report the foreign account to the Internal Revenue Service by filing the FBAR by June 30, 2013. Please note that FBARs must be received and not simply mailed by the due date. The FBAR deadline is not extended to the next business day when the due date falls on a holiday or weekend; and an extension of time to file FBAR after the June 30, 2013, due date is not available. In addition, beginning July 1, 2013, the Treasury Department will no longer accept paper filings and all FBARs must be electronically filed. For more information, please visit the following link: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Report-of-Foreign-Bank-and-Financial-Accounts-(FBAR)
DISCLOSURE REQUIRED BY U.S. TREASURY DEPARTMENT CIRCULAR 230: Loeb & Troper LLP must inform you that any advice in communications contained within this website was not intended or written to be used, and cannot be used, to avoid any government penalties that may be imposed on a taxpayer.
June 2013 – Loeb & Troper conducting Managed Care Audio Series for LeadingAge NY
Loeb & Troper is pleased to announce that it will be conducting the LeadingAge NY Managed Care audio series, which will run throughout 2013. The second session, Operating in a Managed Care Environment, will be co-presented by Angela Belford, Director of Managed Care, Clinical Consulting, and Steven Herbst, Director of Managed Care, on June 13th. For further information, please visit the LeadingAge NY website at: www.leadingageny.org/leading-u/
June 2013 – Loeb & Troper presenting at the Southern New York Association Managed Care and the Post-Acute Provider ACO’s, FIDA’s, MLTC and Medicaid only Managed Care Seminar
Loeb & Troper is pleased to announce that Steven Herbst, Director of Managed Care, will present FIDA Overview, Provider Implications, at the Southern New York Association (SNYA) Managed Care and the Post-Acute Provider ACO’s, FIDA’s MLTC and Medicaid only Managed Care Seminar on June 18th. For further information, please visit the SNYA website at: www.snya.org/nextseminar.htm
May 2013 – Department of Health Includes New Capital Reimbursement Schedule for 2012 Cost Report
UPDATE: The New York State Department of Health (DOH) has released the 2012 RHCF Cost Report software (see DAL dated May 16, 2013). The software includes an additional capital cost reporting schedule for 2012 (Schedule Q) affecting the 2014 capital cost reimbursement rate.
May 2013 – Loeb & Troper LLP announces continued expansion of its Managed Care Practice, including arrival of Angela G. Belford, RN, MA, former VNSNY CHOICE Health Plan executive
Loeb & Troper is pleased to announce continued expansion of its Managed Care Practice, which includes the arrival of Angela G. Belford, RN, MA, Director of Managed Care, Clinical Consulting. Angela joins Loeb & Troper from a successful career at the Visiting Nurse Service of New York (VNSNY), where she was the Director of Clinical and Service Operations of the VNSNY managed care plan, VNSNY CHOICE Health Plans. In this capacity, Angela was responsible for a full spectrum of clinical and operational issues for VNSNY CHOICE Health Plans, including: all aspects of the model of care plan process and development, utilization management, performance improvement strategies and policies and procedures.
April 2013 – Loeb & Troper conducting Managed Care Audio Series for LeadingAge NY
Loeb & Troper is pleased to announce that it will be conducting the LeadingAge NY Managed Care audio series, which will run throughout 2013. The first session, Transitioning to a Managed Care Environment, will be co-presented by Koy Dever, Principal, and Steven Herbst, Director of Managed Care, on April 25th. For further information, please visit the LeadingAgeNY website below.
April 3, 2013 – 1115 Waiver Amendment Approved
By way of email yesterday, the New York State Department of Health (DOH) announced that U.S. Centers for Medicare and Medicaid Services (CMS) has “approved the pending amendment to the 1115 Waiver (Partnership Plan and FSHRP).” This approval will necessitate the move of long term home health care waiver consumers (i.e., LTHHCP / Lombardi) who are dual-eligible, over 21, and live in NYC, Nassau, Suffolk and Westchester into Managed Long Term Care (MLTC) and Medicaid-only consumers into Mainstream Managed Care. The DOH also announced that it will release a question and answer document shortly regarding the implementation details. Loeb & Troper is closely and actively monitoring the transition and implementation issues. If we can assist you navigate this rapidly-emerging issue, please contact Koy Dever, Principal, firstname.lastname@example.org, or Steven Herbst, Director of Managed Care, email@example.com.
March 2013 – Gerry Adest attends 2013 NIC Regional Conference
Loeb & Troper LLP is pleased to announce that Gerry Adest, CPA, Partner, is attending the 2013 National Investment Center for the Seniors Housing & Care Industry (NIC) Regional Conference from March 5-7 in San Diego. For more information regarding the conference, please click the following link: http://www.cvent.com/events/2013-nic-regional-conference-a-skilled-nursing-and-seniors-housing-investment-forum/event-summary-30ce4f1ff03a4e2185d8288d56f7acbb.aspx.
January 2013 – IRS Addresses Payroll Tax and W-2 Issues Related to Retroactive Increase in 2012 Transit Benefit
In just issued guidance, the Internal Revenue Service (IRS) addressed the treatment for the retroactive application of the increased exclusion of the transit benefit for 2012 (from $125 to $240) and provides a special administrative procedure for employers to use in filing Form 941, Employer’s Quarterly Federal Tax Return, for the fourth quarter of 2012 to reflect changes in the excludable amount for transit benefits provided in all quarters of 2012, and in filing Forms W-2, Wage and Tax Statement for 2012.
January 2013 – IRA Charitable Rollover
The American Taxpayer Relief Act (the Act) extends for two years, through December 31, 2013, the provision allowing tax-free distributions from an Individual Retirement Account (IRA) to a public charity, by individuals age 70½ or older, up to a maximum of $100,000 per taxpayer each year.
The Act provides two possible elections for those who wish to take advantage of the charitable rollover in 2012. First, taxpayers who received an IRA distribution in December of 2012 can elect to treat that distribution (or portion thereof) as a 2012 IRA charitable rollover if the individual transfers the amount in cash before February 1, 2013, to an eligible charitable organization. Second, donors are allowed to make distributions directly to eligible charities before February 1, 2013, and elect to have such distributions treated as qualified charitable distributions in 2012. In order to benefit from the tax-free treatment, donors must obtain written substantiation of each IRA rollover contribution from each recipient charity.
DISCLOSURE REQUIRED BY U.S. TREASURY DEPARTMENT CIRCULAR 230: Loeb & Troper LLP must inform you that any advice in communications contained within this website was not intended or written to be used, and cannot be used, to avoid any government penalties that may be imposed on a taxpayer.
January 2013 – Allan M. Blum, CPA, Partner, Presents at the 35th Annual FAE Nonprofit Conference
Loeb & Troper LLP is pleased to announce that Allan M. Blum, CPA, Partner, will present, "Understanding Reporting Requirements for Related Parties” at the 35th Annual FAE Nonprofit Conference on January 10th in Rochester, NY, and on January 17th in NYC. For more information about the conference, please click the following link: http://www.nysscpa.org/epass/Meetings/Meeting.aspx?ID=21910.
January 2013 – Joseph Blatt, CPA, Partner, Presents at the New Jersey Association of Independent Schools (NJAIS) Trustee Enrichment Day
Loeb & Troper LLP is pleased to announce that Joseph Blatt, CPA, Partner, will present, "Reporting and Accounting Implications for Contributions and Special Events Revenues, including Gaming & Auctions” at the New Jersey Association of Independent Schools (NJAIS) Trustee Enrichment Day.
November 2012 – Loeb & Troper LLP announces expansion of its Managed Care Practice, including arrival of Steven Herbst, former VNSNY CHOICE Health Plan executive
Loeb & Troper is pleased to announce expansion of its Managed Care Practice, which includes the arrival of Steven Herbst, Director of Managed Care. Steven joins Loeb & Troper from a successful career at the Visiting Nurse Service of New York (VNSNY), where he was the Director of Strategic Planning of the VNSNY managed care plan, VNSNY CHOICE Health Plans. In this capacity, Steven was responsible for a full spectrum of business issues for VNSNY CHOICE Health Plans, including: health plan operations, mergers and acquisitions, strategic planning, contracts and state and federal plan expansion efforts, among other areas.
November 2012 – New York State Charities Bureau Extension for Organizations Affected by Hurricane Sandy
The IRS has granted organizations affected by Hurricane Sandy an extension of time to file IRS Form 990 from November 15, 2012 to February 1, 2013. The Charities Bureau will grant the same extension of time to file Form CHAR500 and required attachments to any organization that is entitled to the IRS extension. If an organization is entitled to an extension by the IRS, it must request a similar extension from the Charities Bureau, by sending an email request to firstname.lastname@example.org. Email requests for extensions must contain the name of the organization, its Charities Bureau registration number and its Federal Employer Identification Number (EIN) in the subject line. The body of the email must include the filing period for which the extension is being requested and confirmation that the organization is located in one of the designated counties or, if not, it has otherwise been granted an extension by the IRS.
For Loeb & Troper LLP clients, please note that we will automatically submit a request on your behalf to extend the time to file Form CHAR500 to February 1, 2013, if we have filed a first/second extension for your organization.
For more information, please contact Eva Mruk, Director of Tax Compliance, at email@example.com or at (212) 867-4000, ext. 257, or visit the NYS Charities Bureau website at http://www.charitiesnys.com/hurricanesandy.jsp.
November 2012 – IRS Provides Relief for Those Affected by Hurricane Sandy – Deadlines Postponed to February 1, 2013
The Internal Revenue Service (IRS) announced various tax relief measures for individuals, businesses and not-for-profits affected by Hurricane Sandy in Connecticut, New Jersey, and New York. The relief applies to taxpayers in areas in those states declared a disaster area by the Federal Emergency Management Agency (FEMA).
The IRS is postponing various tax filing and payment deadlines starting in late October, giving affected taxpayers until February 1, 2013, to file these returns and pay any taxes due. The postponement applies to tax-exempt organizations required to file Form 990 series returns with an original or extended deadline falling during this period. The postponed deadlines also include those for fourth quarter individual estimated tax payments, normally due January 15, 2013. Also postponed are the deadlines for payroll and excise tax returns and accompanying payments for the third and fourth quarters, normally due on October 31, 2012, and January 31, 2013, respectively.
The IRS announced that it will also abate any interest and any late-payment or late-filing penalties that would otherwise apply. The IRS is also waiving failure-to-deposit penalties for federal payroll and excise tax deposits normally due on or after the disaster area start date and before November 26, if the deposits are made by November 26, 2012.
The relief applies automatically to any taxpayer located in the disaster area and taxpayers do not need to contact the IRS to get the relief.
For more information, including finding the disaster area start date for your county, please go to the IRS website below or contact Eva Mruk, Director of Tax Compliance, at firstname.lastname@example.org or (212) 867-4000, extension 257.
November 2012 – UPDATE: NYS Deadlines Postponed - Including Protective MCTMT Refund Claims
New York State Department of Taxation and Finance (the “Department”) has postponed the deadline until November 14, 2012, for filing protective claims for refund of the MTA tax for certain employers affected by the hurricane. The original deadline was November 2, 2012, for filing such claims.
In addition, deadlines have been postponed for the period beginning on October 26, 2012, and ending before November 14, 2012, for filing any returns, including personal income tax, corporate taxes, sales tax and any other taxes administered by the Department, paying any tax, filing requests for extensions or refunds. Relief from these filing deadlines does not apply to remittances of income tax withheld by employers and remittances of withholding tax or MCTMT required to be made by employers.
Taxpayers who were directly affected by the storm and therefore eligible for this relief are described in Notice N-12-11. In addition, Notice N-12-11 provides information on how to obtain relief. For more information, please go to the NYS Department of Taxation and Finance website at http://www.tax.ny.gov/bus/multi/sandy_relief.htm or contact Eva Mruk, Director of Tax Compliance, at email@example.com or at (212) 867-4000, ext 257.
October 2012 – MCTMT - Important information for taxpayers regarding MCTMT legal proceedings and filing a protective claim for refund
Important information for MCTMT taxpayers of New York, Bronx, Kings, Queens, Richmond, Rockland, Nassau, Suffolk, Orange, Putnam, Dutchess and/or Westchester counties regarding how to file a protective claim for refund.
A court in Nassau County recently held that the Metropolitan commuter transportation mobility tax (MCTMT) is unconstitutional. However, the tax is still in force pending appeal.
Any employer who paid MCTMT when it started (the quarter ending September 30, 2009) must file a protective claim by November 2, 2012, in order to protect their rights to a refund, if and when any is made. The statute of limitations for this quarter expires November 2, so immediate action is necessary.
If you use an outside service to file and pay your payroll taxes, it is likely that they have been in touch with you about how they will file the protective claim. If your outside payroll service has not been in touch about this issue, we recommend that you contact them immediately. If you process your payroll taxes internally, you must file the protective claim yourself.
Full instructions about how to file a protective claim and additional information now are available at http://www.tax.ny.gov/bus/mctmt/mctmt_legal_proceedings.htm, or you can contact Frederick H. Rothman, CPA, JD, LLM, Director of Tax Services, at firstname.lastname@example.org.
October 2012 – Loeb & Troper Exhibits at the Community Health Care Association of New York State (CHCANYS) annual conference
Loeb & Troper LLP is pleased to exhibit at the Community Health Care Association of New York State (CHCANYS) statewide conference & clinical forum from October 24-26, 2012, in Saratoga, NY.
September 2012 – Loeb & Troper Exhibits at the NYS Coalition for Independent and Religious Schools (CAIRS)
Loeb & Troper LLP is pleased to exhibit at the NYS Coalition for Independent and Religious Schools (CAIRS) conference from October 29-30, 2012, in Albany, NY.
August 8, 2012 – RHCF Cost Reports Due Date Extended to August 29, 2012
The New York State Department of Health has extended the due date for filing the 2011 RHCF Cost Reports to August 29, 2012. This extension is being provided to provide all nursing facilities (free-standing and hospital-based) additional time to ensure proper filing. It also makes the deadline consistent with the 2011 Institutional Cost Reports for hospitals. Reminder: Any facility that fails to meet the deadline will be subject to penalties and rate reductions for failure to meet the reporting requirements under the new Nursing Home Quality Pool.
July 2012 – 2012 OMB Circular A-133 Compliance Supplement Released
On July 24, 2012, the Office of Management and Budget (OMB) released the 2012 edition of the Circular A-133 Compliance Supplement (the Supplement). This document is effective for fiscal years ending June 30, 2012, and forward. The Supplement helps organizations identify compliance requirements relating to federal awards, as well as provide insight into auditing procedures.
July 2012 – Koy Dever Presents Managed Long Term Care Contracting at LeadingAge NY Financial Managers Conference
Loeb & Troper LLP is pleased to announce that Koy Dever, Principal, will present, "Managed Long Term Care Contracting” at the LeadingAge New York Downstate Financial Managers Conference on August 6th.
July 2012 – Important Medicaid Requirement for Long Term Care Services
Please click the link below for an important notification from the New York State Department of Health to New York City health care providers regarding the Medicaid Mandatory Managed Long Term Care Program. If you have any questions, please contact Koy Dever, Principal, at email@example.com.
July 10, 2012 – Update: Nursing Home Pricing Rates/2009 Cash Receipts Assessment Reconciliation
The New York State Department of Health (DOH) has indicated that the January 1, 2012 pricing rates (including the updated 2012 capital rate) may be posted to the Health Commerce System (HCS) as soon as this Wednesday, 7/11/12 (along with related Dear Administrator Letters). DOH also plans to simultaneously process the 2009 cash receipts assessment reconciliation. We will update our website when the rates are posted.
July 11, 2012: Update: Rates available. The January 1, 2012 nursing home pricing rates are now available on the Health Commerce System (HCS) website.
If you have any questions, please contact Anna Rizzo, Principal, at firstname.lastname@example.org.
June 30, 2012 – CFR Reporting Change
Beginning with the June 30, 2012 and December 31, 2012 Consolidated Fiscal Reports (CFRs), Intermediate Care Facilities (ICFs) with 30 beds or less no longer require site-specific reporting. Instead, the programs should be reported on CFR-1 by program type. The Residential Reserve for Replacement (RRR) and add-ons to the ICF rates for day services must still be broken out into their respective columns, but these also are aggregated for all ICFs under 31 beds operated by the provider. There is no change for reporting over 30-bed ICFs.
June 2012 – Allan M. Blum, CPA, Partner, is Quoted in CFO.com
We are pleased to announce that Allan M. Blum, CPA, Partner, has been quoted in CFO.com on the topic of health care fraud. Please click the link below for the full article:
June 26, 2012 – Update: Nursing Home Pricing Approved
The Centers for Medicare and Medicaid Services (CMS) approved the State Plan Amendment (SPA) to implement a pricing reimbursement methodology for nursing homes. The New York State Department of Health (DOH) is expected to issue final rate sheets shortly. The rates will cover the period of January–June 2012, with a January 2011 case mix index (CMI). These rates should match the informational rates DOH issued in April. Rate adjustments back to January 1, 2012 are expected in mid-August. These rates will include a stop-loss/gain provision, therefore no home should experience a rate reduction that would exceed 1.75% of its current operating rate.
Rate sheets for the period of July–December 2012 will be issued separately. DOH will update rates to include January 2012 CMI, resulting in homes receiving retroactive rate adjustments back to July 1, 2012 (after rates sheets are received for the second half of the year). While the same stop-loss/gain provision will be in effect for the second half of 2012, homes may see a rate increase or decrease the constraint, due to case-mix-driven rate changes made outside of the constraint.
If you have any questions, or would like an expected income analysis, please contact Anna Rizzo, Principal, at email@example.com.
Anna Rizzo Presents at the LeadingAge New York Annual Financial Managers Conference
Loeb & Troper LLP is pleased to announce that Anna Rizzo, Principal, will present, "Cost Accounting Essentials – Valuing Service in a New Health Care Environment” at the Annual LeadingAge New York Financial Managers Conference on August 21.
June 2012 - PHHPC adopts emergency regulations regarding Medicaid capital reimbursement of federally required sprinkler system upgrades
On June 7, The Public Health and Health Planning Council (PHHPC) unanimously recommended adoption of emergency regulations to accelerate Medicaid capital reimbursement for nursing homes having difficulty financing federally required sprinkler system upgrades. Medicaid capital reimbursement will be adjusted to more closely reflect the repayment term of capital loans, specifically the costs of annual debt service for the financing of equipment and other capital improvements related to the sprinkler system. Noncompliant nursing homes which are determined to be financially distressed would qualify for this special reimbursement treatment. Financial distress will be determined based on several factors including operating performance, fund balances and inability to access credit. Eligible facilities will need to provide DOH with a debt service schedule and agree to deposit reimbursement into a separate account to be used to repay the sprinkler loan.
The federal mandate requires that every nursing facility be equipped with a facility-wide automatic sprinkler system by August 13, 2013. There will be no waivers or extensions of the deadline. Any facility not in compliance may be subject to civil monetary penalties and possible termination from the Medicaid and Medicare programs.
If you have any questions, please contact Deborah Lynch, Principal, at firstname.lastname@example.org, or Anna Rizzo, Principal, at email@example.com.
June 2012 - Update: FAQs for the ALP 6,000-Bed Initiative, OFD
On June 8, 2012, the New York State Department of Health (DOH) posted Frequently Asked Questions (FAQs) regarding the Opportunity for Development (OFD) to establish 6,000 new Assisted Living Program (ALP) beds. Highlights of the FAQs are noted below:
• If a HEAL 21 grant was submitted which included the development of ALP beds, an OFD must still be submitted.
• Priority will be given to new/add'l beds as opposed to conversion of beds to ALP. Developing ALP beds within an existing HUD 202 will qualify as add'l/new beds.
• Decertification of RHCF beds is not required & will not impact the OFD approval.
• Beds will not be allocated by region; the opportunity is available statewide.
• It is anticipated that OFD applicant selection & notification will occur by Fall, 2012.
• Subsequent to selection, DOH must receive a letter of intent to proceed with ALP development within 30 days of ALP OFD award.
• The ALP application would then have to be submitted using DOH's new ALP CON forms, for which a link will be provided in the OFD approval letter.
• There is no limit on the number of ALP beds which can be sought; however, the 200-bed cap applies for the adult home model.
The full list of FAQs may be accessed by clicking the link below: http://www.health.ny.gov/health_care/medicaid/redesign/docs/2012-06-08_alp_ofd.pdf
Reminder: the OFD must be submitted by 5:00 p.m. on July 18, 2012. For more information, please email Deborah Lynch, Principal, at firstname.lastname@example.org, or Anna Rizzo, Principal, at email@example.com, or call at (212) 697-3000.
June 2012 - Important Update on OPWDD People First Waiver
OPWDD intends to pursue a combination of 1915-B and 1915-C Waivers instead of the 1115 Research and Demonstration Waiver it originally proposed. The 1915-B Waiver will enable OPWDD to establish a managed care system to replace the current fee-for-service system, while the 1915-C will authorize Medicaid reimbursement for the safety net services which are a key component of the People First Waiver. Please click the link below for further details.
June 2012 - Report of Foreign Bank and Financial Accounts (FBAR): Deadline is June 29, 2012
The FBAR is required to be filed if a U.S. person has a financial interest in or signature authority over a foreign financial account and the aggregate value of the U.S. person’s foreign accounts exceeds $10,000 at any time during the 2011 calendar year. The FBAR is required to be filed for zero balance foreign financial accounts if the aggregate value of the U.S. person’s foreign accounts exceeds $10,000. Extensions of time to file the FBAR are not available and the FBAR is considered filed only when it is received by the US Department of the Treasury. Individuals may (but are not required to) file the FBAR electronically. Electronic filing is expected to be mandatory beginning July 1, 2013. The IRS FBAR and Title 31 Helpline connects filers with a team of specially trained technicians, examiners and specialists to answer technical related to filing reports on foreign bank accounts. To reach the FBAR and Title 31 Helpline, please call (866) 270-0733.
408(b)(2) Regulations, Effective July 1, 2012
The United States Department of Labor (DOL) issued its final regulation under ERISA section 408(b)(2) requiring Covered Service Providers (CSPs) who expect to earn at least $1,000 in compensation for services to a covered plan to provide specific disclosures that will ensure plan fiduciaries receive complete information that will permit them to determine reasonableness of fees paid and to identify any potential conflicts of interest/related-party transactions. It will also satisfy the reporting and disclosure requirement imposed by Title I of ERISA.
June 6, 2012 - Update on the Schedule for Posting and Publishing January 1, 2012 Statewide Pricing Rates
Upon the approval of the State Plan Amendment (SPA) by CMS, the Department of Health plans to post and publish the January 1, 2012 Statewide Pricing Rates to HCS and eMedNY. CMS approval is expected in approximately 10-14 business days.
June 2012 - Loeb & Troper Exhibits at the New York State Health Facilities Association (NYSHFA) annual conference
Loeb & Troper LLP is pleased to exhibit at the New York State Health Facilities Association (NYSHFA) annual conference in Bolton Landing, NY, from June 24-27.
June 2012 - Loeb & Troper is pleased to sponsor the first annual IAC conference
Loeb & Troper LLP is pleased to sponsor the first annual IAC conference in New York City from June 14-15.
May 2012 - Assisted Living Program Announcement: ALP 6,000-Bed Initiative, Opportunity for Development
The New York State Department of Health (DOH) has issued an Opportunity for Development (OFD) to establish new Assisted Living Program (ALP) beds pursuant to Chapter 56 of the Laws of 2012, amended Section 461-1 of the Social Services Law (SSL) which authorizes the Commissioner of Health to establish up to 6,000 new ALP beds. In recognition of the need to continue to rebalance resources to include less restrictive long term options and ensure sufficient residential capacity within the state, this application process will award the remaining authorized ALP beds (4,718 beds). This new initiative does not require that new ALP beds be linked to decertified RHCF beds.
May 2012 - Loeb & Troper Exhibits at LeadingAge New York
Loeb & Troper LLP is pleased to exhibit at the LeadingAge New York annual conference in Saratoga, NY, from May 21-23.
May 2012 - Loeb & Troper Exhibits at the Home Care Association of New York State
Loeb & Troper LLP is pleased to exhibit at the Home Care Association of New York State (HCA) annual conference in Saratoga, NY, from May 9-11.
May 2012 - Allan M. Blum and Brian O’Reilly Present at FMA
Loeb & Troper LLP is pleased to announce that Allan M. Blum, CPA, Partner, and Brian O’Reilly, CPA, Partner, will co-present, "Planning and Preparing for the People First Waiver" at the 25th Annual Financial Managers of NY Conference on May 5th.
May 2012 - Brian O'Reilly Presents at FMA
Loeb & Troper LLP is pleased to announce that Brian O'Reilly, CPA, Partner, will present, "Preparing for the Inevitable: NYS Comptroller Audits of SED Programs" at the 25th Annual Financial Managers of NY Conference on May 2nd.
May 2012 - Loeb & Troper Exhibits at the New York State Association of Independent Schools
Loeb & Troper LLP is pleased to exhibit at the New York State Association of Independent Schools annual conference in New Paltz, NY, from May 2-4.
April 2012 - Loeb & Troper is the market leader for mergers, acquisitions and divestitures of nursing facilities in New York State
Recent transactions include: St. Vincent’s (Bishop Mugavero, Holy Family Home and St. Elizabeth Ann’s) and MJG Nursing Facility.
April 2012 - Loeb & Troper Exhibits at Connecticut Association of Independent Schools
Loeb & Troper LLP is pleased to exhibit at the Connecticut Association of Independent Schools annual conference in New Haven, CT, on April 30th.
April 2012 - Senator Marcellino Proposes Bill Regarding Not-For-Profit Executive Compensation
On April 13, 2012, New York State Senator Marcellino proposed bill S6930 that would amend the executive law and the not-for-profit corporation law, in relation to compensation of executives of certain not-for-profit corporations. The stated purpose of the bill is as follows, “To provide clear and concise requirements and procedures to ensure that compensation paid to executives at not-for-profits funded by the State are reasonable and not excessive.”
The bill contains language that defines key terms and provides guidance with respect to the process for establishing executive compensation. We expect the contents of this bill to provide a catalyst for discussion in the coming weeks while executives, board members and the practitioner community assess its potential impact. A copy of the bill may be viewed by clicking the following link: http://public.leginfo.state.ny.us/menugetf.cgi
Against a backdrop of mounting calls for reform through Senator Macellino’s proposed bill, the New York State Governor’s Executive Order regarding executive compensation and administrative reimbursement (in continuation until May 16, 2012) and the expected legislation from the office of the New York State Attorney General, Eric Schneiderman, based upon recommendations from the AG’s Leadership Committee for Nonprofit Revitalization report, “Revitalizing Nonprofits, Renewing New York,” it is imperative the not-for-profit executives and board members keep abreast of these initiatives and understand their individual and collective impact on their organizations.
Loeb & Troper remains at the forefront of these issues and will continue to play a lead role in addressing and advocating for changes that help create a vibrant and transparent not-for-profit industry. If we can be of help to you in this process, please contact Harold Gelernter, CPA, Partner, at firstname.lastname@example.org, or Allan Blum, CPA, Partner, at email@example.com.
March 2012 - The Metropolitan Commuter Transportation Mobility Tax (MCTMT) provisions were recently amended to exclude certain small businesses from the tax.
The Metropolitan Commuter Transportation Mobility Tax (MCTMT) provisions were recently amended to exclude certain small businesses from the tax. Specifically, the legislation modifies the definition of “employer” to provide that payroll expense must exceed $312,500 (previously $2,500) in any calendar quarter. The MCTMT was previously imposed at a single rate of 0.34%. For calendar quarters beginning on or after April 1, 2012, the MCTMT is imposed at the following rates: 0.11% for employers with payroll expense no greater than $375,000 in any calendar quarter; 0.23% for employers with payroll expense no greater than $437,500 in any calendar quarter; and 0.34% for employers with payroll expense exceeding $437,500 in any calendar quarter.
In addition, employers that meet the definition of “eligible educational institutions” are no longer subject to the MCTMT. An “eligible educational institution” is defined as any public school district; a board of cooperative educational services; a public elementary or secondary school; a school approved pursuant to Article 85 or 89 of the Education Law to serve students with disabilities of school age (5-21 years of age); or a nonpublic elementary or secondary school that provides instruction in grade one or above.
The MCTMT amendments applicable to employers take effect for the quarter beginning on April 1, 2012. For more information, please visit: http://www.tax.ny.gov/pdf/memos/mta_mobility/m12_1mctmt.pdf, or contact Eva Mruk, Director of Tax Compliance, at firstname.lastname@example.org.
February 2012 - Nonprofit Revitalization Report to Attorney General Eric T. Schneiderman
On February 16, the Leadership Committee for Nonprofit Revitalization released its report to Attorney General Eric T. Schneiderman, “Revitalizing Nonprofits, Renewing New York." While covering a comprehensive range of factors at play in the sector, the report drills down to reducing burden on the sector while strengthening governance and accountability. . .
February 2012 - Loeb & Troper LLP on the New York State Department of Health’s RFA for Establishment of New or Expansion of Existing Certified Home Health Agencies (CHHAs) in New York State
The New York State Department of Health (NYSDOH) recently issued a Request for Applications (RFA) from applicants who are either seeking to establish new CHHAs or to expand existing CHHAs in New York State. The goal of the initiative is to establish or expand CHHAs by geographic service area or by population served in the case of special needs, special pilot CHHAs and LTHHCPs. Changes wrought by the Medicaid Redesign Team (MRT) are impacting the delivery of home care services and prompted this initiative. . .
December 2011 - DOH Finalizes Methodology for Medicaid Nursing Home Pricing
The Department of Health (DOH) has finalized the methodology for Medicaid Nursing Home pricing to be implemented with a January 1, 2012 effective date. The methodology employs the following key features:
• Blended WEF: 50% Facility-Specific; 50% Regional Average
• Blended Price: 50% Statewide Average; 50% Peer Group Average
• Two Peer Groups: Hospital-Based and/or 300+ Beds; All other facilities
• 6-Year transition to full implementation
• Per Diem Add-ons for Dementia, BMI & TBI
• Case Mix Index (CMI) continues as RUG-53 Medicaid-Only basis but is no longer applied retroactively (i.e., July 2012 rate based on January 2012 CMI, January 2013 rate based on July 2012 CMI, etc.)
Additionally, the DOH has made a proposal to the industry to add $100 Million annually to the available pool for reimbursement to be distributed among all the facilities. The additional funding is dependent upon the industry-wide rescission of pending rate litigation and withdrawal of open rate appeals.
If you have questions or would like further details, please contact Anna Rizzo, Principal, Health Care Consulting at email@example.com or at 212-697-3000.
December 2011 - Loeb & Troper is Pleased to Provide an Overview of $450 Million in Grant Funding Available Under a DOH/Dormitory Authority/HEAL Initiative—Restructuring Initiatives in Medicaid Redesign
Overview - The New York State Department of Health and the Dormitory Authority of the State of New York recently jointly announced the availability of $450 million in grant funding under a new phase of the Health Care Efficiency and Affordability Law of New York State (HEAL) and the Federal–State Health Reform Partnership (F-SHRP). The grant funds have been earmarked to help health care facilities address excess bed capacity in the health care system, improve primary and community-based care, and reduce over-reliance on inpatient care in hospitals and nursing homes.
December 2011 - Brian O’Reilly presents Compliance with the Reimbursable Cost Manual (RCM) for IAC
Loeb & Troper is pleased to announce that Brian O’Reilly, CPA, Partner, will facilitate an IAC training session on Compliance with the Reimbursable Cost Manual (RCM) on December 19.
November 2011 - Anna Rizzo presents at LeadingAge New York
Loeb & Troper is pleased to announce that Anna Rizzo, Principal, will present on Medicaid rate sheets for 2012, including a general analysis of the rate sheets and specific concerns for the upcoming year at the November 9th Downstate Financial Managers Council of LeadingAge New York.
October 2011 - Reminder: Property Tax Exemption Renewal Forms Due October 24, 2011
Charitable organizations that qualify for the New York City charitable property tax exemption are reminded that they have until Monday, October 24, 2011, to file the exemption renewal form to ensure they continue to qualify for exemption. To qualify for an exemption, the property should be owned by a charitable organization and used for a charitable purpose under New York State law. Federal tax exemption does not automatically qualify an organization for this City tax exemption. Properties that no longer meet the requirements or those organizations who fail to complete and submit the renewal forms will have their benefits revoked for the 2012 tax year.
Visit http://www.nyc.gov/html/dof/html/property/property_tax_reduc_non_profit.shtml for more details. For further information, please contact Eva Mruk, Director of Tax Compliance, at 212-867-4000 or firstname.lastname@example.org.
October 2011 - Loeb & Troper Assists with Transition to Managed Long Term Care
Against a backdrop of unprecedented change in the health care arena, including historic changes put forth by the New York State Medicaid Redesign Team, long-term care providers will soon be faced with the impact of addressing mandatory managed care enrollment for recipients of Medicaid benefits. Significant changes for long term care providers include but are not limited to:
■ Mandatory enrollment in managed long term care: Beginning April 1, 2012, adults over the age of 21 who are dually eligible for Medicare and Medicaid and require community-based long term care services for more than 120 days will be required to enroll in a managed long term care or other care coordination program. This requirement will impact Certified Home Health Care Agencies, Long Term Home Health Care Programs and Adult Day Health Care Programs currently providing services to these recipients on a fee-for-service basis. In addition, the managed long term care program will be required to cover long term skilled nursing facility care when applicable.
■ Long Term Skilled Nursing Facility benefit added to Mainstream Managed Care: As of October 1, 2012, Medicaid only skilled nursing facility residents will be required to enroll in a mainstream Medicaid managed care plan.
These new requirements will have a significant impact on reimbursement for long term care providers. Loeb & Troper is considered the market leader in understanding the impending changes, from a financial, clinical and strategic perspective. We can help familiarize providers with the parameters and assess the potential impact. We have also been instrumental in helping providers form and/or participate in strategic alliances. We are uniquely positioned to assist executives and board members navigate through this uncharted territory.
For further information, please contact Koy Dever at email@example.com.
October 2011 - Loeb & Troper Exhibits at CHCANYS
Loeb & Troper LLP is pleased to exhibit at the Community Health Care Association of New York State's 2011 Statewide Conference in Saratoga, NY, from October 16-18.
September 2011 - Not-for-Profit Executive Compensation
Overview - Governor Cuomo recently established a Task Force to investigate executive, administrator and board compensation levels at not-for-profits that receive taxpayer support from the State of New York. This underscores the importance of making sure that the highest levels of due diligence are established and followed when determining executive compensation. The New York Not-for-Profit Law authorizes corporations to provide reasonable compensation for commensurate services. However, in the absence of specific criteria governing compensation, as well as the diverse standards by which organizations may establish executive compensation, the State has significant latitude in its interpretation and implementation of the law. This makes it imperative to be able to document that the procedures used by your own organization are reasonable and sound and are commensurate with the scale and scope of the organization.
Update - The Task Force is sending out letters, on a rolling basis, to all not-for-profits that receive funding from New York State. The letters request significant information from the not-for-profit, covering the periods from 2007-2011, ranging from documentation regarding executive compensation to a description justifying the organization being a not-for-profit. While some of the information may be readily available, some information may require compilation for the first time. The Task Force is requesting the information in a specific Microsoft Excel format.
Action - With the ultimate goal of the Task Force yet to be clearly defined, it is difficult for organizations to prepare accordingly. However, we are recommending that organizations work with their auditors, attorneys and/or compensation consultants to compile any and all information regarding compensation with respect to the Task Force’s inquiry.
As the efforts of the Governor’s Task Force evolve, we will continue to communicate the details to our clients and colleagues. For further information, please contact Allan M. Blum, CPA, Partner, at firstname.lastname@example.org.
September 2011 - Relief for Irene Victims: Tax Deadlines Extended in Declared Disaster Areas
The Internal Revenue Service is providing tax relief to individual and business taxpayers impacted by Hurricane Irene. The IRS announced that certain taxpayers in New York, New Jersey, and other affected States will receive tax relief. The tax relief postpones certain tax filing and payment deadlines to October 31, 2011. It includes corporations and businesses that previously obtained an extension until September 15, 2011, to file their 2010 returns and individuals and businesses that received a similar extension until October 17, 2011. It also includes the estimated tax payment for the third quarter of 2011, which would normally be due September 15, 2011. For full details, please visit http://www.irs.gov/newsroom/article/0,,id=245004,00.html?portlet=7. The list of expanded federal disaster areas is subject to change. Please check periodically for updates.
The New York State Department of Taxation and Finance issued similar relief today. For full details, please visit http://www.tax.ny.gov/pdf/notices/n11_8.pdf.
August 2011 - Nursing Facilities Experiencing Financial Difficulties
The New York State Department of Health (DOH) recently sent a “Dear Administrator Letter” to nursing facilities experiencing financial difficulties advising that the DOH is beginning its efforts to implement the Negotiated Appeals Settlement Program. In order to participate in this program, the facility must submit a Letter of Interest, which includes a primary contact at the facility, a list of outstanding appeals, by appeal number, and the name of the external auditor. Eligible facilities are those that the DOH has identified based upon its criteria. The Letter of Interest must be submitted on or before August 15, 2011. If you received the notification letter from DOH, Loeb & Troper can assist you in preparing the necessary documentation to participate in the program, determining the impact of participating and with the estimated valuation of appeals, which is due on or before September 15, 2011.
For further information, please contact Kathy Gill at email@example.com.
July 2011 - Changes in the Labor Law: Wage Theft Prevention Act (WTPA) Notice of Rates of Pay and Regular Payday
Effective April 9, 2011, the Wage Theft Prevention Act requires all employers, other than governmental agencies, to give employees at the time of hire (before work is performed) and on or before February 1st of each year, annual written notice of wages, paydays and other information. For new employees, notice is required within 10 days of hire. For current employees, the deadline to give the notice is February 1, 2012. After that, the notice must be given to all employees annually. Employers must not only give out the notices but also collect employees' signatures on them and keep them for six years. The new law increases penalties for underpayment of wages and for failure to give proper notice. Notice forms for the various kinds of employees (full-time, temporary, hourly, exempt and others) are available from the New York Department of Labor at www.labor.ny.gov/formsdocs/wp/ellsformsandpublications.shtm. For additional information, please visit www.labor.ny.gov/workerprotection/laborstandards/workprot/lshmpg.shtm.
IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this document is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter that is contained in this document.
June 2011 - Report of Foreign Bank and Financial Accounts (FBAR): Due June 30, 2011
This updates previously posted information on our website.
The Internal Revenue Service has provided an additional extension on the requirements for filing a form disclosing a foreign bank account. Persons having signature authority over, but no financial interest in, a foreign financial account in 2009 or earlier calendar years for which the reporting deadline was extended by Notice 2009-62 or Notice 2010-23 will now have until November 1, 2011, to file FBARs with respect to those accounts. The deadline for reporting signature authority over, or a financial interest in, foreign financial accounts for the 2010 calendar year remains June 30, 2011. A copy of revised FinCEN Notice 2011-1 can be found at www.fincen.gov.
In general, a FBAR must be filed by a “United States Person” that has a financial interest in or signature authority over foreign financial accounts where the aggregate value of those accounts exceeds $10,000 at any time during the calendar year. The following persons are treated as United States Persons (“U.S. Person”) for FBAR filing purposes: (1) U.S. citizens, (2) U.S. residents (lawful permanent residents as well as aliens with substantial presence in the U.S.), (3) Entities, including corporations, partnerships, and limited liability companies organized in the U.S., and (4) Trusts or estates organized in the U.S. A U.S. Person can have a “financial interest” in a foreign financial account where the U.S. Person has direct ownership in the account, or where the U.S. Person has indirect ownership in the account through agents or nominees, or as the result of majority ownership in one or more entities that control the entity owning the foreign financial account. Final Regulations: http://www.fincen.gov/news_room/nr/pdf/20110224.pdf
The Final Regulations define a “financial account” as including “an account with a mutual fund or similar pooled fund which issues shares available to the general public that have a regular net asset value determination and regular redemptions.” Consequently, offshore hedge funds and private equity funds which are not offered to the public will not constitute financial accounts reportable on FBARs. Owners of offshore private investment fund interests, and individuals with signature authority with respect to such interests, are not required to report these interests on FBARs. The Final Regulations define “signature or other authority” as “the authority of an individual (alone or in conjunction with another) to control the disposition of money, funds or other assets held in a financial account by direct communication (whether in writing or otherwise) to the person with whom the financial account is maintained.”
According to the Treasury, “the test for determining whether an individual has signature or other authority over an account is whether the foreign financial institution will act upon a direct communication from that individual regarding the disposition of assets in that account.” Treasury explained that the phrase “in conjunction with another” is “intended to address situations in which a foreign financial institution requires a direct communication from more than one individual regarding the disposition of assets in the account.” Treasury provided in the Final Regulations exemptions to the FBAR reporting requirements for officers or employees with signature authority over foreign financial accounts maintained by certain entities. These exceptions are limited and do not apply to individuals who have signature authority over accounts of entities other than their employer (or entities of which the individual is an officer), including controlled or related entities.
Account holders who do not comply with the FBAR reporting requirements may be subject to civil penalties, criminal penalties, or both. For assistance in completing the Form TD F 90-22.1 http://www.irs.gov/pub/irs-pdf/f90221.pdf please contact the IRS at 1-800-800-2877 (option 2) or by email at FBARquestions@irs.gov.
IRS Circular 230 disclosure: To ensure compliance with requirements imposed by the IRS, we inform you that any U.S. federal tax advice contained in this document is not intended or written to be used, and cannot be used, for the purpose of (i) avoiding penalties under the Internal Revenue Code, or (ii) promoting, marketing, or recommending to another party any transaction or matter that is contained in this document. For further information, please contact Eva Mruk, Director of Tax Compliance, at 212-867-4000 or firstname.lastname@example.org.