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The IRS has released inflation adjustments for 2010. By law, the dollar amounts for a variety of tax provisions must be revised each year to keep pace with inflation. As a result, more than three dozen tax benefits, affecting virtually every taxpayer, will NOT be adjusted for 2010.
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Great News!! Today, the IRS released Notice 2008-104, which delays the need for all pharmacies and drug stores to implement an Inventory Information Approval System (IIAS) or certify that 90% of their gross receipts were derived from the purchase of eligible medical expenses in order for payment cards to be used at their locations.
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If you are eligible for Medicare or know someone who is, this news article from CMS is very important. CMS has issued a news alert to Medicare Beneficiaries on schemes aimed at the Medicare Drug Program. (Click Read More... to see the CMS News Alert)
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When Congress passed the Medicare Prescription Drug Modernization Act in 2003, the January 1, 2006, implementation date seemed far away. With that date fast approaching, a huge cottage industry is developing, and our senior population is about to be overwhelmed by advertisements, articles, and solicitations.
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Brand-name pharmaceutical costs have escalated rapidly, while generic prices haven't moved much, revealing an opportunity for companies to cut medical bills by encouraging use of generics.
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