PEOPLE IN THE NEWS

Monica Kaden, Director, has been appointed a Trustee of The Healthcare Foundation of New Jersey. The foundation has an endowment of $170 million and every year grants between $7-$8 million to healthcare-related organizations (hospitals, clinics and others) in the Newark area and in Essex and Morris counties. It also gave almost $8 million in 2014 to programs for veterans, children, those with disabilities and others.

Michele Lazzara, Partner, was recently installed as President of the Westchester Chapter of the New York State Society of CPAs (NYSSCPA). She is also on the executive board of the Estate Planning Council of Westchester and on the board of directors for the Easter Seals New York-Hudson County Regional Board.

Christine Hallahan, Tax Manager , was recently installed as Vice President of the Nassau Chapter of the New York State Society of CPAs (NYSSCPA). Christine is actively involved with the organization and also chairs the NYSSCPA chapter's Women's Focus Group and the Estate and Personal Financial Planning Committee. She is also on the executive board of the Estate Planning Council of Nassau.

ACA:  SUPREME COURT UPHOLDS PREMIUM TAX CREDITS FOR COVERAGE PURCHASED THROUGH EXCHANGES

On June 25, the US Supreme Court, in a much-anticipated ruling, essentially again upheld the Affordable Care Act (ACA), this time by upholding premium tax credits for qualifying taxpayers whether they purchase coverage through a federal or a state exchange. In a 6-3 decision, the Court found that taxpayers purchasing coverage through a federal exchange can qualify for subsidies. The decision is important not just to taxpayers receiving subsidies, but also to the viability of the entire ACA. The majority of states have not set up exchanges. For “large” employers, as defined under the ACA, the decision means that the shared responsibility provisions due to go into effect this year and next, as well as the information reporting requirements due to go into effect this year, will indeed go into effect.

Read more about how this ruling may affect you.