Application for Tax Credits and Cash Grants for Qualifying Therapeutic Discovery Projects Released by IRS
The recently enacted Patient Protection and Affordable Health Care and the Health Care and Education and Reconciliation Act (collectively, the "Health Care Reform Law") provides a non-refundable investment tax credit or cash grant for certain taxpayers who have made a "qualified investment" in a "qualified therapeutic discovery project." According to the Internal Revenue Service ("IRS"), the purpose of the credit is to promote investment in product development that will enhance medical care and increase U.S. competitiveness. On Friday, June 18, 2010 the IRS released IRS Form 8942 - Application for Certification of Qualified Investments Eligible for Credits and Grants Under the Qualifying Therapeutic Discovery Project Program. Read entire article....
Implications of 2010 Temporary Estate Tax Repeal
The federal Economic Growth and Tax Relief Reconciliation Act ("EGTRAA") was signed into law. EGTRAA made extensive changes to the federal tax laws that are still occurring now, in 2010. Read entire article...
Liability for Personal Injury During Showings.
Liability for injuries to a prospective purchaser is likely the furthest thing from the minds of sellers and sellers' agents who have listed and are marketing a seller's home for sale. Once notified of a showing, sellers are often so busy preparing their home to be as marketable as possible, that they fail to realize the liability issues related to hosting complete strangers in their home without themselves being present. Read entire article...
New Law Allows Firearms in Vehicles at Work
On July 1, 2010, a new law will take effect in Indiana which will affect a vast majority of employers regardless of size. Indiana Code Section 34-28-7 has been added to the Indiana Code and allows an employee to possess firearms and ammunition in a locked vehicle on an employer's premises. Read entire article...
Understanding the Duties Owed to Clients: More Important Now Than Ever
The Indiana Supreme Court recently sent Indiana realtors a very strong message: failing to satisfy the duties you owe to your clients will be very costly, and now the door has been opened for claims in which there is no clear monetary damage to a buyer or seller being represented by a realtor. Read entire article...
Major Changes to HIPAA Privacy & Security Rules Affect Group Health Plans- Dawn Snow Mattox
The American Recovery and Reinvestment Act of 2009 (ARRA) was signed into law by President Obama on February 17, 2009. ARRA enacts a number of significant changes to the Privacy and Security Rules of the Health Insurance Portability and Accountability Act (HIPAA). Many of these changes will affect employer-sponsored group heath plans. Read entire article...
Property Tax Update- Joshua C. Neal
With tax season once again upon us, and with reassessment issues continuing to grab headlines, we have once again come up with a few pointers for navigating the tax appeal process. Read entire article...
Checklist for Mechanic's Lien Preparation- Joshua C. Neal
A mechanic's lien claimant must perfect his lien claim in strict compliance with the provisions of IND. Code § 32-38-3-1 and the court decisions that have construed these provisions. Read entire article..
Employee Free Choice Act- Thomas M. Kimbrough
The Employee Free choice Act is important federal legislation that has been proposed which will have a tremendous adverse effect on all businesses and employers in the United States. Read entire article..
New Emotional Distress Cases- Jeremy N. Gayed
Earlier this year, the Indiana Supreme Court issued a trio of opinions pertaining to the treatment of negligent infliction of emotional distress claims under "bodily injury" provisions of automobile insurance policies. Read entire article...
Indiana General Assembly Tightens Restrictions on Residential Real Estate Transactions- Kylee J. Shirey
In response to the recent rise in foreclosures, the Indiana General Assembly passed House Bill 1359 earlier this year in an effort to enhance controls over mortgage brokers and the transactions in which they engage. Read entire article...
New Statute Provides for Homeowners Association Lien- Kylee J. Shirey
In 2007, the Indiana General Assembly passed legislation providing for homeowners association liens. Prior to this legislation, homeowner association liens were not codified, raising issues as to enforceability, priority as to existing mortgages, and the authority given to associations to assert a lien. Read entire article...
Barrett & McNagny LLP release Property Tax Update- Joshua C. Neal
On March 19th, Indiana Governor Mitch Daniels signed a property tax reform plan that caps property tax bills and includes a 1% increase in the state sales tax. While the property tax cap received most of the attention in the conventional media, this was not the only amendment to Indiana’s property tax system. Noted below is a brief summary of some of the significant items of legislation that will affect how property taxes are levied.
Read entire article...
Barrett & McNagny LLP release "How to Conduct a Property Tax Appeal"- Joshua C. Neal
It’s that time of year again. Local assessing officials are re-evaluating the assessed value of real estate and sending to taxpayers the statutorily required notice that annual trending adjustments have resulted in an increase to the assessed value of their real property and, as a result, their total property tax liability. Although the Indiana General Assembly has passed legislation substantially overhauling Indiana’s property tax system, the relief offered by this legislation does not significantly impact how real property is assessed. Instead, the property tax relief caps property taxes as a percentage of assessed value and only requires professional training for assessing officials.
Read entire article...
Barrett & McNagny LLP will occasionally release articles that our attorneys have written, or articles of interest that may be useful to the public. Listed below is information about upcoming speaking engagements by our attorneys. If you are interested in having one of our attorneys write an article or speak at an upcoming event, please contact them directly or contact Marketing Director, Molly Rommel at (260) 423-8888.
