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Additional Hospital Tax-Exempt Status Requirements Effective Soon
Section 9007 of the Patient Protection and Affordable Care Act (Act), signed into law by President Obama on March 23, 2010, includes specific requirements for hospitals to receive and maintain Internal Revenue Code (IRC) Section 501(c)(3) status.
The specific Internal Revenue Service requirements, and related $50,000 excise tax for failure to meet those requirements, will be detailed in the new IRC Sections 501(r) and 4959.