IRS releases draft revisions to form 990 – annual report for tax-exempt entities including hospitals

The IRS issued proposed revisions to Form 990 today, including a new schedule for hospitals which

Requires organization to report aggregate community benefit for all facilities, and certain information regarding billings, collections, and joint ventures; requires list of facilities and description of type of services provided at each facility; requires reporting of certain policies and activities to communities served by the organization.

See the IRS press release and the IRS web page on the proposed revisions to Form 990.  The comment period is open for 90 days.

I suppose this could count as the response called for in the letter from Senators Grassley and Baucus to Treasury last month.  Think the IRS had a heads-up on the Senators’ letter?

Wipe off those spectacles and prepare for a little more transparency.

— David Harlow