1. Recognize potential §501(r) related red flags on Form 990, Schedule H
2. Identify the key §501(r) documents that tax-exempt hospitals must make available on its website
3. Prepare for questions the IRS may ask for in a §501(r) exam and proactively take steps to avoid triggering an IRS exam
4. Discuss other key §501(r) concepts, such as amounts generally billed, providers lists, and when translations of §501(r) documents is required
Since Internal Revenue Code (IRC) Section 501(r), Additional Requirements for Charitable Hospitals; Community Health Needs Assessments for Charitable Hospitals; Requirement of a Section 4959 Excise Tax Return and Time for Filing the Return, was added to the IRC with the enactment of the Patient Protection and Affordable Care Act (ACA) in 2010, the IRS sought comments from the hospital community and issued numerous guidance in the form of notices, proposed regulations and final regulations. Since final guidance has been issued, the IRS has shifted its focus to enforcement.
In its Tax Exempt and Government Entities FY 2017 Work Plan, the IRS indicated that it continues to review hospitals for compliance with §501(r) as the ACA requires. The Work Plan also states that, as of September 30, 2016, the IRS completed 968 reviews of Schedule H filings and hospital websites and referred 363 of those hospitals (37.5 percent of hospitals reviewed) for field examination. In our experience, this enforcement trend has continued.
In this webinar, we will review key §501(r) concepts and what is triggering IRS exams, including a discussion of pertinent questions on Form 990, Schedule H.
Webinar ID: 562) 247-8321