IRS Issues Device Tax Proposed Rule
Duane Morris Health Law
irs health_care_reform monaco medical_apps tax | Health Law | Thursday February 09, 2012 | By Martin L. Monaco, Jr.
On February 3, 2012, the Internal Revenue Service issued a proposed rule (REG-113770-10) providing guidance under IRC Section 4191 as to the excise tax imposed on the sale of certain medical devices.
The excise tax, mandated...
Non-Profit Hospitals Spent 11 Percent on Community...
Duane Morris Health Law
non-profit tax-exempt irs tax hospitals tax_compliance community_health_needs monaco | Health Law | Thursday February 09, 2012 | By Martin L. Monaco, Jr.
According to an Ernst & Young study released February 2, 2012, not-for-profit hospitals spent an average of 11 percent of their total expenses on benefits to their communities in 2009.
The study, prepared for the American Hospital Association,...
IRS Issues Draft Schedule H, Instructions for Exem...
Duane Morris Health Law
form 990 schedule hospitals h monaco irs tax | Health Law | Thursday December 22, 2011 | By Martin L. Monaco, Jr.
Beginning with the 2011 tax year, Form 990, Schedule H, Part V, Section B (“Part V.B.”) is no longer optional, with the exception of lines 1-7. In IRS Notice 2012-4, released December 15, 2011, the IRS explained that the questions on Part V.B, which...
Negative IRS Decision as to Tax Treatment of ACOs
Duane Morris Health Law
plr aco monaco healthcare irs | Health Law | Tuesday December 20, 2011 | By Martin L. Monaco, Jr.
In a Private Letter Ruling (“PLR”), issued July 5, 2011, the Internal Revenue Service (“IRS”) reviewed an application for recognition of exemption from Federal income tax under IRC Section 501(c)(3) and denied tax-exempt standing to a hospital controlled...
IRS Releases Fact Sheet for Tax-Exempt Hospitals P...
Duane Morris Health Law
monaco aco hospitals aco's non-profit irs mssp tax-exempt | Health Law | Wednesday December 14, 2011 | By Martin L. Monaco, Jr.
On October 20, 2011, the federal government released final rules for the formation and operation of accountable care organizations (ACOs) under the Medicare Shared Savings Program (MSSP). ACOs represent a key component of the Patient Protection and...
IRS Likely to Increase Enforcement of Tax-Exempt B...
Duane Morris Health Law
compliance tax-exempt bonds enforcement irs | Health Law | Thursday October 20, 2011 | By Martin L. Monaco, Jr.
The IRS is likely to use additional resources in fiscal 2012 for compliance programs aimed at taxpayers filing Form 990 Schedule K, "Supplemental Information on Tax-Exempt Bonds".
Those additional resources will target section...
IRS Issues Exempt Hospitals Notice To Guide Their ...
Duane Morris Health Law
ppaca irs hospitals tax_compliance monaco community_health_needs | Health Law | Tuesday July 26, 2011 | By Martin L. Monaco, Jr.
On July 7, 2011, the Internal Revenue Service (“IRS”) and the United States Treasury (“the Treasury”) issued guidance in Notice 2011-52 designed to help tax-exempt hospitals and health systems comply with the community health needs assessment (“CHNA”)...