New IRS Form 990 Schedule H Requires Non-Profit Hospitals to Report More Details on Charity Care

OPEN MINDS On-Line News Strategic Health Care News On April 7, 2008, the federal Internal Revenue Service released draft instructions and worksheets for the redesigned Form 990 and Schedule H, which requires that non-profit hospitals report their finances and community benefits in much greater detail; in particular the reporting will focus on the amount of charity care provided. Comments on the drafts will be accepted through June 1, 2008. Starting for tax year 2009, non-profit hospitals will be required to collect and analyze data and determine the value of both according to uniform standards for the reporting . . .