New York, NY, November 04, 2010 --(PR.com
)-- The Knowledge Group/The Knowledge Congress Live Webcast Series, the leading producer of regulatory focused webcasts, has announced today that Milton Cerny, Counsel of McGuireWoods LLP will speak at the Knowledge Congress’ webcast entitled: “The Impact of New Federal Tax Requirements on Hospitals”. This event is scheduled for November 17, 2010 at 12:00 PM - 2:00 PM ET.
(For further details, please visit: http://www.knowledgecongress.org/event_2010_newfederal_tax.html
Hospitals beware; a significant tax change is on the way.
Section 9007 of the Patient Protection and Affordable Care Act (PPACA) enacted last March 2010 imposes new requirements for nonprofit hospitals that must be followed to keep a tax-exempt status. The new rules also mandate tax-exempt hospitals to administer community health needs assessments and to clarify and make known their financial assistance policies. Failure to do so may result to costly penalties which can be as high as $50,000.
About Milton Cerny
Mr. Cerny represents a broad range of nonprofit organizations including hospitals, private foundations, universities, public charities, and trade associations, including U.S. affiliates of foreign charities. In this capacity, he provides advice on tax planning and legal representation on large case and team audits regarding tax controversies before the IRS, and compliance with federal requirements on governance and private foundation rules. He has extensive experience in the application of the federal tax code to nonprofit organizations. He served at the National Office of the IRS in Washington, D.C., where he was responsible for issuing private letter rulings and advising field offices on tax controversies. He served as the technical advisor to the Assistant Commissioner on Employee Benefits and Tax Exempt Organizations on major issues referred to Washington. Prior to joining McGuireWoods, he was a partner with Caplin and Drysdale in Washington, D.C., where his practice dealt with major private foundations and public charities. He is a well-known lecturer on the nonprofit sector, has authored a number of articles, and has taught tax law at major law schools.
About McGuireWoods LLP
McGuireWoods delivers quality work, personalized service and exceptional value. They use technology to provide efficient legal solutions and employ a diverse workforce to bring real-world and innovative perspectives to meet our clients’ needs.
With approximately 900 lawyers and 17 strategically located offices worldwide, McGuireWoods uses client-focused teams to serve public, private, government and nonprofit clients from many industries including automotive, energy resources, health care, technology and transportation.
For more information about Milton Cerny and McGuireWoods LLP, please visit: www.mcguirewoods.com
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Congress is a series of live webcasts produced by The Knowledge Group, LLC, which examine trends, regulatory, and technology changes across a variety of industries. To contact or to register to an event, please visit: www.knowledgecongress.org.