IRS Clarifies ACA Charitable Hospital Tax-Exempt Rule

Law360, New York (August 14, 2013, 7:06 PM EDT) -- The Internal Revenue Service on Wednesday outlined certain tax return requirements relating to changes introduced by the Affordable Care Act that would impose new rules for charitable hospitals that want to keep their tax-exempt status.

The agency said charitable hospitals that fail to comply with certain reporting requirements of their community health needs assessments will have to file a return for the additional $50,000 tax imposed under this condition, according to a notice scheduled to be published in the Federal Register Thursday.

The return would have...
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