In a 5-4 decision today, the United States Supreme Court upheld the “individual mandate” provision of the Patient Protection and Affordable Care Act as a permissible exercise of the federal government’s power under the U.S. Constitution to levy taxes. This means the requirement that most Americans either have health insurance coverage or pay a penalty will become effective in 2014 (unless legislation enacted before 2014 changes or revokes that requirement). This also means that all provisions of the Affordable Care Act currently in effect remain in effect, and all provisions of the Affordable Care Act with future effective dates will become effective on the applicable dates (again, unless future legislation changes or revokes any of those provisions).
For more information, please contact:
Antoinette M. Pilzner
248.220.1341
apilzner@mcdonaldhopkins.com
Carl J. Grassi, President
600 Superior Avenue, East, Suite 2100, Cleveland, Ohio 44114
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Chicago
312.280.0111
Fax: 312.280.8232
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Cleveland
216.348.5400
Fax: 216.348.5474
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614.458.0025
Fax: 614.458.0028
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Detroit
248.646.5070
Fax: 248.646.5075
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Miami
305.704.3990 Fax: 305.704.3999
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West Palm Beach
561.472.2121
Fax: 561.472.2122
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IRS CIRCULAR 230 DISCLOSURE:
To ensure compliance with requirements imposed by the
Internal Revenue Service, we inform you that any tax advice
contained in this communication (including any attachments),
was not intended or written to be used, and cannot
be used, by any taxpayer for the purpose of (1) avoiding
any penalties under the Internal Revenue Code or (2) promoting,
marketing or recommending to another party any
transaction matter addressed herein.
© 2012 McDonald Hopkins LLC All Rights Reserved.
This Alert is designed to provide current information for our clients, friends
and their advisors regarding important legal developments. The foregoing discussion
is general information rather than specific legal advice. Because it is
necessary to apply legal principles to specific facts, always consult your legal
advisor before using this discussion as a basis for a specific action.