by: Philip R. Frankfort The Tax Cuts and Jobs Act created a new concept for tax-exempt organizations – an excise tax on excess executive compensation. New Internal Revenue Code Section 4960 became effective January 1, 2018; and actually creates two separate taxes. First, there is a tax of 21% on remuneration over $1,000,000 paid in […]
Philip Frankfort May 24th, 2018
Posted In: Corporate & Business
By: Philip R. Frankfort As a result of legislation signed by Governor Rauner on December 13, 2017 (P.A. 100-0564) all Illinois prescribers must now register with the Prescription Monitoring Program (“PMP”) and in certain circumstances interact with the PMP’s database. Specifically, the Illinois Controlled Substances Act (“Act”) has been amended to add a new section […]
Philip Frankfort January 29th, 2018
Posted In: Healthcare
By: Philip R. Frankfort The Illinois Balance Billing Law (Public Act 96-1523) became effective on June 1, 2011. “Balance billing” typically happens when you are treated by an out-of-network physician who does not accept as payment in full the reimbursement that he or she receives from your insurance company. Thus, after receiving payment from your insurance company, the […]
Philip Frankfort October 23rd, 2012
Posted In: Healthcare