The Internal Revenue Service last week released an early release draft of its revised Schedule H form, which incorporates additional reporting requirements as outlined by the Patient Protection and Affordable Care Act, according to an AHA News Now report.
According to the American Hospital Association, completing the draft form would be burdensome for hospitals. Also according to the AHA, the IRS did not incorporate suggestions from the hospital industry to reduce redundancy, adding the form could run as long as 250 pages for some facilities.
Following the release of the draft form, representatives of the AHA, the Healthcare Financial Management Association and VHA met with officials from the Office of Management and Budget to request the agency's intervention.
To download the draft form, click here.
To download the draft instructions, click here.
Report Examines IRS' Implementation of New Requirements for Tax-Exempt Hospitals Under Health Reform
According to the American Hospital Association, completing the draft form would be burdensome for hospitals. Also according to the AHA, the IRS did not incorporate suggestions from the hospital industry to reduce redundancy, adding the form could run as long as 250 pages for some facilities.
Following the release of the draft form, representatives of the AHA, the Healthcare Financial Management Association and VHA met with officials from the Office of Management and Budget to request the agency's intervention.
To download the draft form, click here.
To download the draft instructions, click here.
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IRS Issues Second Draft of Schedule H Tax Form, Seeks Additional CommentsReport Examines IRS' Implementation of New Requirements for Tax-Exempt Hospitals Under Health Reform