Lacy Katzen Blog

Your Medical or Nursing Home Claim May Require Fast Action

Some nursing homes and hospitals in New York State are owned by a municipality.  This means the nursing home or hospital is owned by a State, County, City or Town.  Municipalities enjoy certain benefits including a shorter window of time in which they must be sued before a claim would be denied. The permitted period of time in which to start a suit is referred to as a statute of limitations.

Obtaining Medical Records

Medical records are frequently used for non-medical purposes, including for example, to prove entitlement to insurance benefits, prove health and fitness for employment, prove the existence of a disability, or to excuse an absence from court, school or work. Regardless of the reason you seek medical records, the following steps will help you obtain the records you seek:

Snowbirds Beware! Exclusions to Your Homeowners Policy Could Leave Your Home Uninsured

Some people purchase a homeowners insurance policy and breathe a deep sigh of relief, satisfied that their property is protected. Unfortunately most people do not take the time to read the policy to understand exactly what coverage they have purchased. An insurance policy is a contract in the eyes of the law. The insurance company need only provide the coverage it agreed to provide, nothing more and nothing less. Your policy has two different areas that must be reviewed to determine if you are protected.

Why a "single focus" law firm might not be the best choice for your personal injury case

We’ve all seen the ads. Hurt in a car? Our lawyers have a sole focus - we handle only car accident cases. The clear implication is they must be better because they do nothing else. But is a single focus law firm really better for you and your case?

Estate Planning for Digital Assets

Digital assets are fast-becoming a vital part of every individual’s daily life. It is difficult for most of us to remember a time without cell phones, tablets, or even the internet, and for the younger generations, it is impossible to even fathom. As digital assets are being used more and more by every individual, it has become more and more prudent for every individual to consider how to dispose of such digital assets as part of his or her estate plan.

IRS Public Hearing On Section 2704 Proposed Regulations

On December 1, 2016, the U.S. Department of Treasury held its public hearing on newly proposed regulations under Internal Revenue Code Section 2704, which limit valuation discounts for minority interests, lack of control, and marketability.

2017 Medicare Premiums

Medicare Part B premiums will rise for most Medicare Beneficiaries in 2017. According to the Centers for Medicare and Medicaid, the standard Medicare Part B premium for most recipients will rise in 2017 by about 4% from $104.90 to $109.00. Some will see a 10 % increase for Part B from $121.80 a month to $134 a month. Also, all Medicare recipients will have to pay a higher Part B deductible in 2017, which will increase from $166 to $183.

$100 Million FBAR Penalty

By Joshua B. Beisker, Esq.
Taxpayers who fail to file Reports of Foreign Bank and Financial Accounts (“FBARs”) disclosing their non-U.S. accounts can suffer as much as a 50% penalty on the balance of the unreported accounts.
In a recent FBAR penalty case, a New York professor of business administration has been subjected to a $100 million civil FBAR penalty for failing to report a $200 million account.
This case provides that the IRS will impose as much as a 50% penalty for failing to report FBAR income.

Proposed Regulations for Internal Revenue Code § 2704 – A Window of Opportunity!

by Joshua Beisker Esq.

On August 2, 2016, the U.S. Department of the Treasury and the Internal Revenue Service issued proposed regulations under Section 2704 of the Internal Revenue Code that, if enacted in its current form, would significantly restrict the ability of taxpayers to claim valuation discounts for both lack of control and lack of marketability in family-controlled businesses.

Volunteering for a Cure

As a regional law firm to the Rochester area, Lacy Katzen continuously strives to be involved in the community.  This year, Lacy Katzen employees were asked to anonymously nominate an organization in the community at which the Firm would volunteer.  Employees then voted on the organization that they wanted to support.  Based on this process, the Firm has elected to partner with CURE Childhood Cancer, a nationally recognized non-profit organization in peer to peer support for families with children diagnosed with cancer and blood disorders.