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American Addiction Centers Leads the Addiction Treatment Industry as it Launches Onsite COVID-19 Testing at all of its Treatment Centers


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BRENTWOOD, Tenn., April 22, 2020 (GLOBE NEWSWIRE) — American Addiction Centers (AAC) is leading the way in the addiction treatment industry by now testing each patient admitted to any one of its treatment centers for COVID-19. The new safety protocol is significant news for patients seeking addiction treatment in the midst of the COVID-19 pandemic.

“Those struggling with addiction need those services now,” said Andrew McWilliams, AAC CEO. “We don’t need to let COVID-19 be a barrier to treatment. Last year alone, 67,000 people died from drug overdoses in the U.S. That’s almost 200 people per day dying from this deadly disease. In addition, an estimated 88,000 people die annually from alcohol-related causes.”

Tests will also be available to current patients and staff exhibiting symptoms, in accordance with guidelines from the Centers of Disease Control and Prevention. AAC’s lab, Addiction Labs, worked tirelessly to piece together all the necessary elements to conduct the testing with fast turnarounds of 48 hours or less.

“The safety of our patients and staff is paramount and we were not going to take ‘no’ for an answer,” said Shannon Myers, Addiction Labs supervisor. “And with that came hundreds, if not thousands, of phone calls with vendors.”

The lab also went beyond standard testing protocols to ensure an accuracy rate of 95% or higher.

“The accuracy of the test is extremely important to us because our clients are all in the facility together with the staff for extended periods of time,” said Joe Olechowski, Addiction Labs genetics research, and development supervisor. “Providing a false negative report to a positive patient has the potential to affect the entire facility. Our test looks at three gene targets where other tests may only look at one gene target, which means the potential for false negatives is far higher.”

AAC is one of a few treatment providers to have an in-house lab and the capability to offer COVID-19 testing for its patients. Addiction Labs has the capacity to run 2,400 tests a day.

“We do know that behavioral health services, from a COVID-19 testing perspective, is very underserved,” said McWilliams. “Our goal is to utilize the testing we’ve developed to not only serve our patients but to open it up to the broader behavioral health community at large.”

To learn more about AAC’s COVID-19 testing and patient safety plan, visit https://americanaddictioncenters.org/covid-19-update

About American Addiction Centers
American Addiction Centers (OTC: AACH) is a leading provider of inpatient and outpatient substance abuse treatment services. We treat clients who are struggling with drug addiction, alcohol addiction, and co-occurring mental/behavioral health issues. We currently operate substance abuse treatment facilities located throughout the United States. These facilities are focused on delivering effective clinical care and treatment solutions. For more information, please find us at www.AmericanAddictionCenters.org. We also offer several online resources for the public. Visit americanaddictioncenters.org/online-resources to learn more.

Contact
Director of Corporate Communications American Addiction Centers
Joy Sutton
jsutton@contactaac.com
615-587-7728

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Roey Hayon: American Real Estate Will Draw More Investors during the Coronavirus Crisis

The impact of COVID-19 on the global economy is colossal and wide-felt. With China, the second-largest economy in the world, recording the largest outbreak of the virus and suffered the greatest. The COVID-19 pandemic has disrupted the manufacturing processes and led to significant breakdowns in the supply chain, which has resulted in economic volatility. Taking a cue from how the virus outbreak has affected the Chinese economy, the American real estate market should brace up for the impact.

Revenue and growth in commercial real estate will slow

Roey Hayon says, “The US commercial real estate (CRE) would experience the hardest hit if there is a full-blown outbreak of coronavirus in the US. Production and other economic activities will ultimately reduce because workers and employees would rather stay indoors to maintain their safety. The outbreak will also considerably reduce the spending rate of consumers and increase the default rates in commercial real estate loans.”

Companies and CRE investors are planning on how to help mitigate the spread of the virus, most notably in properties where multiple people reside or work. An enhanced cleaning and disinfecting process are safe and healthy to reduce the potential spread of COVID-19. However, all investors are expected to have other back-up plans; perhaps the virus isn’t effectively contained as projected.

“The global market has witnessed a lot of impacts since the coronavirus outbreak. For instance, in the past four weeks, the three major US stock market indexes lost over 25% of their value, the Fed dropped interest rates down to 0.25%, and the bond also declined drastically to a rate that has never been witnessed before. We also saw the Senate approved $1 Trillion emergency package for COVID-19.” Says Roey Hayon.

These indicators show that the impact of the coronavirus outbreak is hardly impacting the global market.

How bad would the impact of coronavirus in American real estate

Roey Hayon says, “The depth of the impact of COVID-19 depends on how widespread the virus gets. While the number of reported cases of coronavirus in the US is still relatively low compared to the US population of 327 million people, the virus is spreading quickly. And only time will tell how volatile the market will be. However, investors can take advantage of the lowered interest rates to invest in real estate as we brace up for the impact.”

Though the US real estate markets have mostly recovered from the 2008 recession, the coronavirus outbreak could usher in another full-blown recession in 2020 and beyond if the spread continues.

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The IRS Provides Good News for Certain American Expats


https://www.prfire.com/Are you an American who has lived or worked in the UK or elsewhere overseas and owns Foreign Trusts? Have you paid a penalty for late filed Form 3520 or 3520A for 2016,2017,2018 or paid an earlier year penalty within the last 2 years or have clients that did?

If so, there may be good news for you, according to Mary Beth Lougen, President of American Expat Tax Service. This week the IRS issued new guidance in Rev. Proc. 2020-17 that may exempt qualifying U.S. citizens and residents with Foreign Trusts from the onerous reporting requirements. This means that you may not have to file the Form 3520, due April 15th, and Form 3520A, due March 16th going forward if you qualify.

What Foreign Trust qualifies according to the IRS? According to Mary Beth the IRS states in the guidance; “ This revenue procedure provides an exemption from the information reporting requirements under section 6048 of the Internal Revenue Code for certain U.S. citizen and resident individuals with respect to their transactions with, and ownership of, certain tax-favored foreign retirement trusts and certain tax-favored foreign nonretirement savings trusts.” “For purposes of this revenue procedure, a tax-favored foreign non-retirement savings trust means a foreign trust for U.S. tax purposes that is created, organized, or otherwise established under the laws of a foreign jurisdiction (the trust’s jurisdiction) as a trust, plan, fund, scheme, or other arrangement (collectively, a trust) to operate exclusively or almost exclusively to provide, or to earn income for the provision of, medical, disability, or educational benefits, and that meets the following requirements established by the laws of the trust’s jurisdiction”. There are further restrictions in the guidance that apply as well. She recommends speaking to an experienced expat tax advisor to determine how the new regulations may apply to your specific situation.

But there is more good news. Mary Beth notes that the new procedures provide an opportunity to request abatement of penalties has imposed and a refund of penalties paid for tax years 2016 – 2018 or earlier years if paid in the last two years. A Form 843 should be used to file for this relief.

According to Mary Beth to be eligible a taxpayer…

• Must be compliant with all requirements for filing a U.S. federal income tax return (or returns) covering the period such individual was a U.S. citizen or resident.
• To the extent required under U.S. tax law, has reported as income any contributions to, earnings of, or distributions from, an applicable tax-favored foreign trust on the applicable return (including on an amended return).

More information can be found on the IRS website at … https://www.irs.gov/pub/irs-drop/rp-20-17.pdf.
Mary Beth Lougen is President of American Expat Tax Services which is an income tax preparation firm that specializes in all areas of US Income Tax Preparation, Compliance, and IRS Problem Resolution for American Expats. She has over 30 years of US Income Tax experience including cross-border and expat taxes. Mary Beth has a Master’s in Law and taxation, is an Enrolled Agent, a U.S. Tax Court Practitioner (USTCP), and is also a respected writer and instructor in cross-border taxation.

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Urban Lights Sets the American Dream in Motion with Inspired Candles


Lady Liberty has been welcoming the world to America since 1886 with her beacon of faith. Following her concerned gaze to the great city across the river, the New York subway system bonds 8.6 Million people together each and every day (according to the MTA.)

Our journey began in New York, a concrete jungle and gathering place for people from all over the world,” shares Elisabetta Beatrici, Co-Founder of Urban Lights Candles. “We were inspired by Massimo Vignelli’s renowned NYC subway signs,” she added enthusiastically.

Urban Lights, a new candle company, wishes to bring the people of New York and beyond together. “What if we can set our American Dream in motion while connecting and supporting other people, encouraging each person to share their stories by spreading love, joy and hope?” said Co-Founder Taner Oktar. “The gesture of lighting a candle is very powerful. To us, our candles are more than designed objects. Of course, they are beautiful and timeless, but they would also be transporters of stories. With each new owner; Urban Lights candles become symbolic and serve as a reminder of something nostalgic, poetic… and empowering.

Open to the public, the media initiative, “Let There Be Light”, is an interactive social campaign that kicked off with a launch reception at SoHo, New York City’s Perfumarie on December 4th, 2019.

Urban Lights celebrates the unique vibes of five Manhattan neighborhoods: 5th Avenue, Wall Street, Grand Central, Spring Street, and 125th Street, each with a beautiful olfactive profile. As modern, travel-ready objects of desire, each candle has the ability to activate a journey down memory lane with a distinctive aroma.

Designed in New York City and made in the USA, the Urban Lights regulatory team is constantly providing safer and more sustainable options for fragrance development and usage in candles. Because Urban Lights cares about sustainability, the glass vessel is made from recycled and reworked materials.

Urban Lights Candles ($49) are available online and at Perfumarie.

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