The IRS is imposing new reporting requirements for hospitals in their annual Form 990 tax return filing starting in tax year 2009. The new information concerns the nature and scope of a hospital’s community benefit efforts. All of this information will be reported in the new Schedule H “Hospitals”. Lyon Software has been following the IRS draft issues of the new Schedule H, and we have been changing CBISA Online™ to accommodate these new 990H requirements. (more…)
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IRS Form 990 Schedule H – Are You Ready?
Friday, April 3rd, 2009This information is directed at hospitals required to file Form 990 Schedule H (community benefit information). Its purpose is to alert hospitals to the need to implement a tracking and reporting mechanism as soon as possible. The new Schedule H involves considerably more substance than simply charity care and means-tested programs such as Medicaid. Much of the buzz so far concerns charity care and bad debt and whether to follow the guidelines of HFMA Statement 15. Although charity care and public program shortfalls are very significant numbers reported in Schedule H, they are not the only numbers. (more…)
