Do assets received by a beneficiary of a “Grantor trust” on the death of the Grantor receive a “step up in basis”? On January 9, 2023 IRS issued Revenue Ruling 2023-2; 2023-16 IRB 1, determining that there is no basis
Throughout the pandemic, the federal Public Health Emergency (PHE) designation has provided important consumer protections, bolstering the State’s efforts to ensure access to health coverage and care for New Yorkers. During this unprecedented crisis, NY State of Health and Local
GIS 23 MA-02 Updated Medicaid Levels: The 2023 Federal Poverty Level Numbers were released in the Federal Register Notice dated 1/19/2023 triggering the New York State Department of Health (“NYDOH”) to issue GIS 23 MA-02 on 2/10/23 revising/updating certain numbers
The Relief The Department of the Treasury and the Internal Revenue Service (IRS) intend to issue final regulations related to required minimum distributions (RMDs) under section 401(a)(9) of the Internal Revenue Code that will apply no earlier than the 2023
GIS 22 MA-12 Update Regional Rates: The purpose of this General Information System (GIS) message is to inform local departments of social services of the year 2022 Medicaid regional nursing home rates which must be used when calculating a transfer
The purpose of this General Information System (GIS) message is to provide local departments of social services with the updated life expectancy table issued by the Office of the Chief Actuary of the Social Security Administration (SSA). As advised in
FROM THE FDIC WEBSITE: Revocable and Irrevocable Trust Rule Change Effective April 1, 2024 Mortgage Servicing Accounts Rule Change Effective April 1, 2024 All the rules discussed in this section are current through March 31, 2024. The FDIC approved changes, on
New York Independent Assessor (NYIA) Chapter 56 of the Laws of 2020 authorized the Department of Health (Department) to contract with an entity to conduct an independent assessment process for individuals seeking Community Based Long Term Services and Supports (CBLTSS),
Setting Every Community Up for Retirement Enhancement Act of 2019 (the “SECURE Act”) On 12/20/19 President Trump signed into law the “Further Consolidated Appropriations Act, 2020 (H.R. 1865)” which included the Setting Every Community Up for Retirement Enhancement Act of
The Social Security Administration (SSA) has published changes to social security rates, benefits etc. that take effect on January 1, 2022. Click here for the Social Security Administration’s “Social Security Fact Sheet” as to the the updated changes. It always
GIS 21 MA-26 Update Regional Rates: The purpose of this General Information System (GIS) message is to inform local departments of social services of the year 2022 Medicaid regional nursing home rates which must be used when calculating a transfer
The purpose of this General Information System (GIS) message is to provide local departments of social services with the updated life expectancy table issued by the Office of the Chief Actuary of the Social Security Administration (SSA). As advised in
Dear Clients, Friends, and Colleagues: Gov. Andrew M. Cuomo has announced that he will end New York State’s declared disaster emergency today in response to declining COVID-19 case numbers and hospitalization rates, as well as increased vaccination rates. The state
In a major victory for New York State Bar Association advocacy on behalf of its members, of which we are active members, Gov. Andrew M. Cuomo has signed a new NYSBA-advanced bill into law that simplifies and improves for consumers
No. 202.110 E X E C U T I V E O R D E R Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency WHEREAS, on March 7, 2020, I issued Executive Order Number 202, declaring a State disaster emergency for the entire State of New York; and WHEREAS,
No. 202.105 E X E C U T I V E O R D E R Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency WHEREAS, on March 7, 2020, I issued Executive Order Number 202, declaring a State disaster emergency for the entire State of New York; and WHEREAS,
No. 202.99 E X E C U T I V E O R D E R Continuing Temporary Suspension and Modification of Laws Relating to the Disaster Emergency WHEREAS, on March 7, 2020, I issued Executive Order Number 202, declaring a State disaster emergency for the entire State of New York; and WHEREAS,
The power point attached lays out the estate tax thresholds for Federal and New York as of today, March 25,20201. It discusses Biden’s campaign proposal and pending Bills in New York State, which propose to tax New York recipients of
GIS 20MA/12 Update Regional Rates: The purpose of this General Information System (GIS) message is to inform local departments of social services of the year 2021 Medicaid regional nursing home rates which must be used when calculating a transfer of
The purpose of this General Information System (GIS) message is to update local departments of social services (LDSS) on the continued extension of Medicaid eligibility and enrollment changes made as a result of the Coronavirus (COVID-19) outbreak. These changes were
