2011 Real Estate Tax Appeal Deadlines

Thursday, August 25th, 2011

Miami-Dade, Palm Beach and Broward counties have all recently issued their annual Truth in Millage (“TRIM”) notices.  Property owners wishing to appeal the assessed valuations and tax liabilities reflected on their 2011 TRIM notices have a very limited time to do so.

If you feel that your assessment may be too high, the deadlines to appeal your property taxes are approaching. After the following deadlines, appeals for 2011 will not be permitted: 

• September 16, 2011 – Palm Beach
• September 19, 2011 – Broward
• September 19, 2011 – Miami-Dade

The steps to appeal your property assessment can be challenging. If you need assistance with this process, please contact a Kaufman, Rossin professional or contact the following resources directly who specialize in these tax appeals:

Mitchell Feldman – FBS Property Tax Abatement, LLC
305.350.7360 or mfeldman@fbstaxabatement.com

Michelle Cohen – LeaseGuard, Inc.
561.998.2800 Ext. 1 or info@leaseguardusa.com

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Scott F. Berger is a tax principal at Kaufman, Rossin’s Miami office.  Kaufman, Rossin & Co. is one of the top CPA firms in the country.  He can be reached at sberger@kaufmanrossin.com.

Florida Unemployment Interest Assessment for Employers

Tuesday, February 15th, 2011

Florida borrowed funds from the federal government to pay unemployment compensation benefits. Since the loans will not be repaid by January 1, 2012, the state will have to pay interest on the funds. The law requires contributing employers to pay a proportionate share of the interest through a special annual assessment. 

The Florida Department of Revenue has mailed an assessment notice (Form UCT-27Fi) to Florida employers informing them of their proportionate share. Payment is due by June 30, 2011. Click here for more information about Florida Unemployment Compensation Law.

If you have any questions or concerns, please contact me or any Kaufman, Rossin professional.

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Annette Nunez is an accounting services manager at Kaufman, Rossin’s Miami office.  Kaufman, Rossin & Co. is one of the top CPA firms in the country. She can be reached at anunez@kaufmanrossin.com.  

This information is not intended or written to be used for the purpose of avoiding tax penalties and it cannot be used for that purpose. Further, this information is a general description of current tax law and is not presented as a tax opinion on any general or specific tax issue or situation. This information may not be used to promote or market any transactions stated herein. Readers are advised to seek advice from their own tax advisors if they have questions.

Is your favorite non-profit at risk?

Thursday, August 5th, 2010

In May, the IRS began revoking tax-exempt status from nonprofits that had failed to file required returns (including the on-line postcard Form 990-N) for 2007, 2008, and 2009. According to a free report from Guidestar, 300,000 nonprofits could lose their status.

Is your favorite non-profit at risk?   If your business, like ours, is involved in the community, you’ll want to check.  The IRS has published a list. 

The good news is that there’s a “one-time relief program.”  Organizations can preserve their status by filing returns by October 15, 2010. 

If you’re involved with a nonprofit organization of any type, make sure they’re aware of the IRS actions, and the deadline to file returns if they have not done so!

Janet Fifer is an associate principal in the Estate, Trust and Exempt Organizations department at Kaufman, Rossin & Co., one of the top CPA firms in the Southeast.  She can be reached at jfifer@kaufmanrossin.com.

Avoid Penalties for not Protecting Health Records: free seminar

Thursday, March 4th, 2010

The amendment to the HITECH ACT became effective February 17, 2010. If you are a healthcare provider or business associate and you don’t understand the act or haven’t taken the steps every organization must take to comply, then attendance at our upcoming seminar, Avoid Penalties for not Protecting Health Records, on March 25 is a must.

Privacy breaches are increasing at an alarming rate – which can bring litigation and financial penalties to healthcare providers. As of January 2010, there have already been 35 reports of breaches affecting 500-plus individuals, resulting in 712,000 notices. Most of the reports were electronic PHI contained in a lost or stolen unencrypted media or portable device. If you aren’t 100% confident that your organization’s current HIPAA policies and procedures have properly covered all the bases, then attending this seminar is recommended.

IN THIS SEMINAR YOU WILL LEARN

• Complying with the HITECH Act
• How to establish an effective information security program
• Best practices to assess third party providers
• Provisions to include in third-party vendor contracts
• Potential fines/remedies in the event of non-compliance or breach
• How to understand your notification requirements

WHEN & WHERE
Thursday March, 25th
8:00 – 8:30 a.m. (registration)
8:30 – 9:30 a.m.Kaufman, Rossin & Co.
2699 South Bayshore Drive, 3rd Floor
Miami, FL 33133

There is no charge for this private briefing. Breakfast and coffee is complementary. Seating is limited.

RSVP

You may register by calling Jorge Rey, at (305) 646-6076, or e-mail jrey@kaufmanrossin.com. If you have questions about the event, please contact Jorge as well.

Click here to Register

SPEAKERS

Jorge Rey, CISA, CISM
Director, Kaufman, Rossin & Co.

Jorge is responsible for managing and performing a variety of information security engagement for companies in the healthcare industry. He regularly assists companies address information security, privacy and compliance needs. He brings notable experience in IT risk assessments, IT Audits, network security and records retention. He is a Certified Information Systems Auditor and Certified Information Security Manager. He is president of the Palm Beach chapter of the Association of Records Managers and Administrators (ARMA). Jorge has been featured in numerous magazines and newspapers, including Healthcare Fraud, South Florida Business Journal, Miami Herald and Computerworld.

Luis Salazar
Partner, Infante, Zumpano, Hudson & Miloch

Luis leads the firm’s Privacy and Data Security Law Practice. He advises clients on best corporate privacy practices, developing and implementing data-retention policies, international and intercorporate data transfers, permission-based marketing, and compliance with data privacy laws and regulations. He actively advises health care institutions and business associates on HIPAA Security Rule issues, and Hi-Tech Act compliance. He is a Certified Information Privacy Professional and a Certified HIPAA Security Rule Auditor.

Luis is one of the most widely published authors in the areas of data privacy and security law. Luis was selected “Best of the Bar” by the South Florida Business Journal in 2003, a Legal Elite by Florida Trend Magazine in 2004 and 2005, a Superlawyer in 2006 and 2007, listed in The Best Lawyers in America, 2007, 2008, and 2009 Editions, and was selected for listing by Chambers & Partners USA Guide, 2007-201- editions.

Avoid Penalties for not Protecting Health Records

Sunday, February 28th, 2010

Updated 2/28/2010

The amendment to the HITECH ACT became effective February 17, 2010. If you are a healthcare provider or business associate and you don’t understand the act or haven’t taken the steps every organization must take to comply, you may be at risk of litigation and financial penalties. The HITECH Act includes provisions and expands the activities covered by HIPAA, expanding the privacy and security requirements to protect medical records.

If records have been compromised, those affected individuals must be notified. If the breach involves more than 500 individuals, the covered entity is required to send notifications to the media. Some commons scenarios that could require notifications are: missing back-up tape (unencrypted), lost/stolen laptop with unencrypted medical records and email sent to an unauthorized party.

As of January 2010, there have already been 35 reports of breaches affecting 500-plus individuals, resulting in 712,000 notices. Most of the reports were electronic PHI contained in a lost or stolen unencrypted media or portable device. 

To learn more about how to comply, read the full story or contact me at jrey@kaufmanrossin.com to pre-register for my upcoing seminar.

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February 1, 2010

If you’re in the health care business, you needn’t wait for the House and Senate to reconcile their bills to find your world has changed. There’s a regulatory change you need to comply with, right around the corner. And you’d best take notice, because there are expensive penalties for non-compliance.

The federal government has recognized the immediate need for a transition in the way health records are managed. Effective February 17, 2010, covered entities (health plans, healthcare providers and/or healthcare clearing houses) must comply with new rules regarding electronic health records. Subcontractors are affected too.

With the Health Information Technology for Economic and Clinical Health Act (HITECH or “The Act”), a bill that was passed as part of the American Recovery and Reinvestment Act of 2009, a number of incentives have been created to encourage the adoption of health information technology such as electronic health records systems. The Act expects considerable exchange of electronic protected health information among health care providers and has increased the reach of privacy and security regulations under the Health Insurance Portability and Accountability Act (HIPAA), penalties for non-compliance and enforcement provisions.

To give it some teeth and ensure that patients are protected, there are increased civil monetary penalties for HIPAA violations. The state attorney general now has authority to enforce the rules. Penalties for HIPAA violations range from $100 to $50,000 per incident. The maximum civil penalties, on an annual basis for multiple violations, range from $25,000 to $1.5 million.

To learn more about how you should prepare, read the full story or contact me at jrey@kaufmanrossin.com.