IRS Gives Non-Profit Hospitals a Break on Reporting Requirements
The IRS will be giving non-profit hospitals a break on their tax year 2010 reporting. Schedule H of IRS Form 990 for hospitals’ tax filing includes a new Part V, Section B that addresses requirements for non-profit hospitals that were included in the Affordable Care Act. Those requirements address hospital financial assistance policies, community health needs assessments, charges for care, and billing and collection practices. According to a June 9 IRS announcement, the agency “has decided to make the entire Part V.B optional for the 2010 tax year to give the hospital community more time to familiarize itself with the types of information the IRS will be collecting related to compliance with section 9007 of the Patient Protection and Affordable Care Act…” You can read the complete IRS notice here.
This exemption does not apply to any other hospital IRS filing requirements.
The notice also states that the IRS “continues to invite comment on how to improve the clarify and reduce the burden of reporting the information related to these additional requirements on the Form 990 and Schedule H…”