Federal Tax Update:
Focus on Hospitals

      Congress and the IRS have turned up the heat on hospitals in several important respects during the past month.  This article will summarize the principle reform measures directed at the healthcare industry and the practical steps that your institution should take to stay ahead of the curve by implementing the best practices that are emerging within the industry.

Treasurer Inspector General:  Report On Community Benefit Initiative

      During 2006, the IRS initiated a compliance check, through written questionnaires, of 544 tax-exempt hospitals.  The initiative was designed to elicit information regarding the compensation practices and community benefit practices among hospitals.  On March 29, 2007, the Department of Treasury Inspector General issued a report that outlines the IRS' progress and expected products resulting from this hospital compliance check.  The report can be accessed at http://www.treas.gov/tigta/auditreports/2007reports/200710061fr.html.

Read the complete article about the federal tax update and the focus on hospitals.

This publication is intended for general information purposes only and does not and is not intended to constitute legal advice.  The reader must consult with legal counsel to determine how laws or decisions discussed herein apply to the reader's specific circumstances.