After attending the Georgetown University Law Center “Representing & Managing Tax-Exempt Organizations” Conference in April, 2010, we wanted to discuss some of the lessons that exempt organizations should take away in the following areas: governance; transparency; compensation; joint ventures; and endowments and investments.
Healthcare Organizations
Tweets from the Georgetown “Representing & Managing Tax-Exempt Organizations” Conference (April 22-23, 2010)
By A. Nicole Campbell on
We tweeted live from the Georgetown Conference that occurred on April 22-23, 2010. Our tweets highlight IRS next steps and agenda items, as well as discuss other topics of interest to exempt organizations.
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Illinois Supreme Court Denies Property Tax Exemption to Not-for-Profit Hospital
By Elizabeth M. Mills on
On March 18, 2010, the Illinois Supreme Court denied property tax exemption to a not-for-profit hospital in the nationally watched Provena case. The plurality’s reasoning has implications for many nonprofits beyond hospitals.
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IRS to Honor Certain Medical Resident FICA Refund Claims
By Elizabeth M. Mills on
The IRS has announced that it plans to honor certain medical resident FICA refund claims for periods before April 1, 2005, when new IRS regulations went into effect. The IRS’s brief announcement does not indicate the terms on which claims will be paid. Still, the IRS notes that verification of the claim amount will be required and interest will be paid.
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Tax Exemption Changes Possible for Hospitals as Part of Health Reform
By Elizabeth M. Mills on
Section 9007 of the health reform bill passed by the Senate on December 24, 2009 contains specific requirements for Section 501(c)(3) hospitals wishing to retain their tax exemption. This development is of interest to all exempt organizations, not just hospitals, because it is another example of Congressional action imposing specific standards on particular types of exempt organizations.
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