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Article: New 990 gets down to specifics.(The Week in Healthcare)
- Article from:
- Modern Healthcare
- Article date:
- April 14, 2008
- Author:
CopyrightCOPYRIGHT 2008 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Melanie Evans
As nearly everyone knows, filling out tax forms is as simple (or as painful) as following the instructions.
Last week, not-for-profit hospitals and health systems got a look at new instructions for their yearly tax record, which the Internal Revenue Service overhauled in December 2007 (Jan. 7, p. 6). The Form 990, which tax-exempt organizations use to report their finances and operations, now asks additional questions on governance and executive pay and perks. Also new: Hospitals must give detailed disclosure starting in 2009 on charity care and other subsidized aid to their communities.
Draft instructions released last ...