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| 02.05.08 | Federal Financial Institution Preemption Issues Under State Abandoned Property and Consumer Protection Laws
Journal of Taxation and Regulation of Financial Institutions
John A. Biek
Abstract: In order for a federal preemption defense to succeed, a court must be convinced that there is an actual conflict between the state laws in question and the National Bank Act or Home Owners’ Loan Act and their regulations. Neal Gerber Eisenberg partner and Tax Practice Group member John A. Biek authored an article that appears in the January/February 2008 edition of the Journal of Taxation and Regulation of Financial Institutions. |
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| 02.04.08 | CMS Expects Reduced Part D Costs Reports High Enrollment and Enrollee Satisfaction
American Health Lawyers Association Practice Group Alert
Stephanie B. Vasconcellos
Abstract: On January 31, the Centers for Medicare and Medicaid Services (CMS) issued a press release regarding the projected cost of the Medicare prescription drug benefit over the next 10 years. CMS estimates the cost of providing the Part D prescription drug benefit to be $243.7 billion net Medicare cost for Part D over the next 10 years, which is $117 billion less than CMS projected in the summer of 2007. CMS suggests that the sharp drop in projected spending is attributable to slowing drug cost increases, lower plan spending, and higher rebates from prescription drug manufacturers. Neal Gerber Eisenberg Health Law Practice Group member Stephanie B. Vasconcellos co-authored an article appearing in the February 4, 2008 American Health Lawyers Association Practice Group Alert that was distributed to the Association's Medicare Part D Task Force Members.
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| 02.01.08 | Some States Push the Constitutional Envelope with Unapportioned Taxes on LLCs and LLPs
John A. Biek
Abstract: As states have faced budget crises, limited liability companies (“LLCs”) and limited liability partnerships (“LLPs”) have proven to be a popular source of new revenue. Most states do not impose an entity level income tax on LLCs and LLPs, of course, but many states have imposed (or increased) annual filing fees or taxes on these passthrough entities, based on a variety of measures, e.g., their net income, gross receipts, capital or even the number of their partners or members. Neal Gerber Eisenberg partner and Tax Practice Group member John A. Biek authored an article that appears in the January-February 2008 edition of CCH’s Journal of Passthrough Entities.
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| 02.01.08 | The IRS Reconsiders Its Rulings on Incomplete Gift Nongrantor Trusts
Lawrence I. Richman
Abstract: In IR 2007-127, the IRS announced it was reconsidering the ruling position it had taken in a series of private letter rulings, which concluded that the nongrantor beneficiary/members of trust distribution committees do not possess a general power of appointment by reason of their joint distribution power. The announcement is important because it represents a broadside attack on the critical path taken by practitioners in structuring irrevocable trusts, which are incomplete gifts on the part of the trust’s grantor, to be recognized as separate taxpayers for income tax purposes. Neal Gerber Eisenberg partner and Private Wealth Services chair Lawrence I. Richman authored an article that appears in the January/February 2008 edition of CCH's Journal of Passthrough Entities. |
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| 01.31.08 | Downey v. Strain: When is a Worker Prejudiced for Lack of Individualized FMLA Notice?
Amy J. Zdravecky
Abstract: Under the Family Medical Leave Act (FMLA), following an employee’s notice of the need for leave, employers are required to designate leave as FMLA and provide written notice to the employee of such designation and that the leave will be counted as FMLA leave. The FMLA, however, does not contain any specific requirements governing notice to employees. However, the regulations require employers to provide employees with individualized notice of the designation to the employee. Since the U.S. Supreme Court's decision in Ragsdale v. Wolverine Worldwide, Inc., 535 US 81 (2002), many employers have wondered just when a worker might be found to have been prejudiced for lack of notice. In Downey v. Strain, 2007 U.S. App. LEXIS 28796, the Fifth Circuit considered this question, and on December 12, 2007, the Court found that Downey had met her burden of showing that she had been prejudiced by a lack of individualized FMLA notice. |
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