New York, NY, October 01, 2011 --(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, McGuireWoods LLP, will speak at a 2-hour webcast entitled “New Tax Rules for Tax Exempt Hospitals and Accountable Care Organizations LIVE Webcast.” This event is scheduled for Thursday, November 10, 2011 from 12:00pm to 2:00pm (ET).
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
The nonprofit healthcare landscape was changed significantly by the Patient Protection and Affordable Care Act (PPACA), which imposes new requirements on nonprofit hospitals that must be followed in order to keep 501(c)(3) status. These requirements are already in effect now and must be implemented even though the IRS has not yet issued regulations. 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. Also, the PPACA creates a new concept called Accountable Care Organizations (ACO). IRS is in the process of issuing guidance in both of these areas. This comes at the heels of increased scrutiny by IRS and state taxing authorities, which are now sharing information about tax exempt organizations.
About The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series
The Knowledge Group, LLC brings together the world's leading authorities and industry participants through informative two-hour webcasts that study the impact of changing regulations and help businesses succeed through proper regulatory compliance.
The Knowledge Group, LLC/The Knowledge Congress Live Webcast Series