The Government Accountability Office (GAO) has released a report on IRS oversight of nonprofit hospitals. It identifies legal requirements hospitals must satisfy to maintain a tax-exempt status, including community benefits. Several factors make it difficult for the IRS to verify compliance. For example, it’s up to the hospitals to decide the community benefits they provide. Also, tax forms they use to report such benefits are “inconsistent.” In 2020, the GAO recommended that Congress define “community benefits” and that the IRS update forms to allow for greater transparency. Congress hasn’t acted and the IRS made only minor changes to the forms. Read the report: https://bit.ly/3HmKsSl
Our Blog 