Accardo, whose family has long operated successful insurance industry businesses, including the Accardo Agency, said he found the double-dipping
troubling because it was an unnecessary cost center, particularly in a city already under enormous budget stress.
He objected to an exemption for district attorneys, which stayed in the bill after the House voted down an amendment Monday to apply the double-dipping
ban to them.
The board ruled that the town's former finance director, Michael Daley -- who retired in 2006 at age 55 and began collecting an $800-per-month pension -- couldn't get around double-dipping
rules by incorporating his consulting work.
Because you don't know who might be double-dipping
, and those who do are sharing their saliva with you."
Treasury and the IRS believe that treating a separate unit as a domestic corporation for all purposes includes situations in which double-dipping
is not possible or unlikely, such as when the unit is not taxable in the foreign country.
It explained that the shorter time period should be sufficient to deter any perceived double-dipping
of losses and deductions and noted that it would be consistent with the recent amendment to the section 367(a) regulations, reducing the length of the required gain recognition agreement from 10 years to 5.
But because this process isn't always followed, Medicare frequently pays twice for the same service--once to the SNF under Part A prospective payment and again to an outside supplier under Part B--and some suppliers are even double-dipping
, says OIG, by billing both SNFs and Medicare.
Many courts initially found the answer to be that you couldn't do both, leading to the use of the term double-dipping
. Many courts held that there shouldn't be double-dipping
by a party to an agreement--taking a share of an asset now and then asking for another part of the same asset later.
The court also said the 1986 Tax Reform Act, in contemplation of enactment of foreign legislation, not intend for the standalone exception to cause the termination of double-dipping
to always benefit the foreign country.