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Proposed Changes to the Medicare Physician Fee Schedule for 2015. This initiative could have a profound effect on Medicare reimbursement and billing procedures for surgeons and their staff. CMS issued a proposed rule that would update payment policies and rates for services including the following.

Don't delay the beneficial operating efficiencies that are related to the ICD-10 implementation. A goal of ICD-10 implementation has been to improve documentation to better support the increased specificity of the ICD-10 diagnosis codes. Compliance will increase billing accuracy.

Medicare Administrative Contractors have started sending letters to providers, listing all owners who require fingerprinting. Failure to respond could result in either revocation of Medicare billing privileges or denial of Medicare enrollment applications.

The Affordable Care Act established a requirement for all enrolled providers and suppliers to revalidate their Medicare enrollment information under new enrollment screening criteria. This applies to those providers and suppliers that were enrolled in Medicare prior to March 25, 2011.

With the deadline for eligible professionals to attest to the meaningful use EHR Incentive Program rapidly approaching, attention has been turned to the CMS attestation website. However, there is an issue with the current CMS website used to report.

The goal of the Transforming Clinical Practice Initiative is to create and support networks developed to help physicians have timely access to health information and result in improved health outcomes. Find out more about the Transforming Clinical Practice Initiative.

The OIG has identified continued abuse of modifier 59, Distinct Procedural Service. The Centers for Medicare and Medicaid Services indicate that new Healthcare Common Procedure Coding System (HCPCS) modifiers are considered subsets of modifier 59.

The Centers for Medicare and Medicaid Services sent letters to group practices and eligible professionals who did not satisfactorily report PQRS quality data measures in 2013 and will receive a negative 1.5% payment adjustment on their Medicare Part B payments.

OECD and BEPS action items have become a noticeably referenced and discussed topic as transfer pricing enters the public consciousness and dominate discussions. As such, BEPS has been critically analyzed and evaluated in many forums.

Impact of proposed changes in Irish tax law. The Irish government announced it will require newly chartered entities in Ireland to be tax-resident there. The proposed change in Irish tax law is in response to widespread criticism of perceived aggressive tax planning by multinationals.

As part of the IRS offshore tax-avoidance and compliance efforts, the IRS has increased focus on withholding compliance. Case study on Chapter 3 rules for withholding tax on non-resident individuals and foreign corporations and Chapter 4 rules taxes to enforce reporting of certain foreign accounts.

Here are the most common foreign informational forms taxpayers are required to file: Form 5471, form 8858, and form 8858. These forms are overlooked all too often. Each of the above forms is informational in nature with no separate tax calculation.

The intent of the Chapter 3 is to enforce a tax on certain US source income that is beneficially owned by non-US persons. The intent of the Chapter 4 is to obtain a level of transparency and understand where a US interest is in tiered structures.

Mandatory reporting of cross-border investments and activities. Every U.S. company that had a non-U.S. affiliate during 2014 will be required to take some action with the BE-10 survey. Certain inbound investments by a non-U.S. company may be considered reportable transactions that have to be disclosed.

On June 29, 2016, the IRS released its final regulations that require annual Country-by-Country (“CbC”) reporting. These regulations are scheduled to be published in the Federal Register on June 30, 2016.

In our latest blog, we review the types of payments that are subject to tax withholding. Will you be liable for under-withholding on any payment subject to withholding? Learn more in our international tax blog.

In the course of the bankruptcy proceedings, certain of the tax attributes will be adjusted for the transactions that occur during the proceedings. As CPA’s, we are retained, with Bankruptcy Court approval to perform a wide range of services.

A recent U.S. Tax Court ruling in the case of Susan Crile may prove a valuable precedent for artists who are frequent targets of audit. The Tax Court’s acceptance of this defining argument should offer hope that the IRS may apply a fresh approach to its audits of other artists.

Voxx International is moving its corporate headquarters from Long Island NY to Florida. The Company has approximately 2,100 employees--approximately 400 of whom are on Long Island. Companies are leaving Long Island to receive significant tax incentives for their move.

Long Island New York is losing another brand. Sbarro, which sells New York-style pizza, has announced it is moving its headquarters from Melville to Columbus, Ohio. You can bet possible tax breaks and incentives will be given by the state of Ohio for the creation of new jobs.