The IRS released a new proposed rule loosening penalties on the health law's requirement for non-profit hospitals to submit a community needs assessment, granting some waivers for minor infractions and giving hospitals a window of time to repay taxes if they don't meet stiffer criteria to keep their tax exemptions.
In the proposed rule, the tax collecting agency agreed it would not penalize small errors in community needs filings with excise taxes capped at $50,000 for inadequate community needs reports.
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In the proposed rule, the tax collecting agency agreed it would not penalize small errors in community needs filings with excise taxes capped at $50,000 for inadequate community needs reports.
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