As we have previously reported, the 2010 Health Care Reform Act imposed new, specific requirements for hospitals to maintain their Section 501(c)(3) tax-exempt status.
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Stealth Can Be Good: New Procedure Allows Governmental Entities to Relinquish Section 501(c)(3) Tax-exempt Status
By Elizabeth M. Mills on
A new provision which was slipped in to the annual announcement of procedures for exempt organization determinations and letter rulings provides a way for governmental entities to voluntarily terminate their Section 501(c)(3) status. This is important for governmental hospitals that otherwise could be faced with new exemption requirements and penalties.
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IRS-Treasury Annual Priority Guidance Plan Released
By Elizabeth M. Mills on
Last week, the IRS and Treasury Department released their annual Priority Guidance Plan for the 2010-2011 federal fiscal year. The 34-page plan is available here. The IRS exempt organizations web page identifies and lists eighteen items in the plan that affect exempt organizations. Of the eighteen items, eleven were …