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On February 16, 2012, the Department of Health and Human Services (HHS) announced a delay in the adoption of ICD-10 diagnosis codes. HHS recognized the administrative burdens associated with ICD-10 and the need to slow the transition. The previous implementation date was set for October 1, 2013. A new compliance date has not yet been determined by HHS.
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In order to facilitate systems and programming changes, the IRS today notified tax-exempt organizations that the IRS Modernized e-file (MEF) system will not be available from January 1, 2012 through February 29, 2012 for electronic filing of Forms 990, 990-EZ, 990-PF and 1120-POL information returns.
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In an effort to stimulate investment in Wisconsin businesses, the Wisconsin state budget, signed by Governor Walker in the summer of 2011, included two provisions that provide individuals with the ability to defer the tax on long-term capital gains that they reinvest either in a "Qualified New Business Venture" (limited to $10 million in gains) or in a Qualified Wisconsin Business" (no limitation).
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There have been many recent changes in foreign reporting for individuals including significant penalties for non-compliance of foreign reporting.
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Effective for dates of service January 1, 2012 and forward, the CPT Editorial Panel has approved changes to Radiology CPT codes.
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