May 3, 2013
In response to Congressional concerns that there was little to distinguish a for-profit hospital from a tax-exempt nonprofit hospital, Congress enacted IRC 501(r) which mandates that tax-exempt nonprofit hospitals: 1. Conduct community health needs assessments; 2. Establish and disclose financial assistance policies; 3. Limit charges to needy individuals; and 4. Follow reasonable billing and collection […]
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April 11, 2013
On April 5, 2013, the Internal Revenue Service (“IRS”) publishedproposed regulations (“Proposed Regulations”) providing guidance regarding certain aspects of Section 501(r) of the Internal Revenue Code (“Code”), which establishes various requirements for hospitals to qualify for federal income tax exemption under Code Section 501(c)(3). Comments are due to the IRS by July 5, 2013. This alert highlights the key issues addressed in the Proposed Regulations, as follows: