The Internal Revenue Service just released Schedule H and corresponding instructions for the 2010 tax year. In reviewing the revised form, it appears the bulk of the changes were made to comply with the Patient Protection and Affordable Care Act. Key among them are:
*Questions about community health needs assessments are optional for 2010
*Modifications to Part V, were made to require health systems to list each facility and a new
Section B was added to report each facilities policies and practices. This relates to Code
Section 501(r) which requires each facility within a healthcare system to meet the
standards set forth in the Act.
*Modifications to Section B include questions regarding each facility's compliance with Section
501(r)
*Instructions regarding the requirement that hospitals and systems attach their audited
financial statements to their Form 990
*Additional requirements to list all non-hospital healthcare facilities
Despite how onerous Schedule H looks, with enough time and effort (and more time and effort), we have found that it is not exceptionally burdensome to prepare. Schedule H can be viewed on the IRS website at http://www.irs.gov/pub/irs-pdf/f990sh.pdf.
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