The Pension Protection Act (PPA), passed by Congress in 2006, requires most tax exempt organizations to file an annual information return or notice with the IRS. Failure to file the required return or notice for three consecutive years results in automatic revocation of the organization’s tax-exempt status. The IRS has provided a list of organizations […]
The general rule in a federal individual bankruptcy is that IRAs and other qualified retirement assets are protected and such assets are not subject to the claims of the individual’s creditors. However, in the case of Ernest W. Willis v. Deborah Menotte, Red Reef, Inc. the US Court of Appeals
Attorney Claude Krawczyk was the guest speaker on the “Business Solutions” program hosted by Diane Chamness” on Saturday May 21, 2011 on WISN 1130 AM radio. Claude discussed basic intellectual property issues to include trademark
Attorney Timothy Caprez has recently been reappointed to serve a fourth consecutive term as Co-Chair of the Milwaukee Bar Association (“MBA”) Health Law Section. Under his direction, the MBA Health Law Section has presented numerous seminars focused on educating attorneys, executives and medical professionals on continuing developments and emergent issues within the complex legal landscape […]
It has been estimated that over 90% of all business information today is created electronically. Use of social networking websites, such as Facebook, on-line photography accounts like Flicker, e-mail passwords and word processing files, is increasingly more common. Various media commentators have addressed the need for individuals to consider their electronic data and on-line postings […]
The Waukesha County Circuit Court appointed Attorney Seth Dizard as receiver of Tri-Star Tool and Machine Inc. Dizard will oversee the business and sell the 20,000 square foot facility located in the Sussex Corporate Center. Read article here.
The Wisconsin Health Care Quality Improvement Act (“WHCQIA”), part of Wisconsin’s recently enacted tort reform bill, has revised Wis. Stat. § 146.38 to broaden peer review protections for health care providers. Section 146.38, which provides for the confidentiality of information generated or obtained during peer review or evaluation, has been expanded by WHCQIA to apply […]
On Friday, April 8th, Attorney Dizard, as the court appointed receiver of Meadowbrook Country Club, received court approval to sell the 83 year old, 150 acre private country club to a group of local investors for $1.425 million. The sale was essentially the culmination of the receivership of Meadowbrook Country Club which was initially filed […]
The Internal Revenue Service has created a safe-harbor election under Revenue Procedure 2011-29 to allow taxpayers to allocate seventy percent (70%) of the success-based fees paid in business acquisitions or reorganization as a deduction against current ordinary income. If the election is made, the remaining thirty percent (30%) must be capitalized. This election can be […]
In Chilton v. Moser, a Texas Federal District Court overturned a Bankruptcy Court and ruled that an inherited IRA owned by a debtor is an exempt asset and protected under the Bankruptcy Code. This is an important decision. As more and more wealth is accumulated in 401(k)’s and rolled over into IRA’s, these IRA’s are […]
