The article “Exempt Hospitals Must Answer Financial Assistance Questions in 2011” reports new health care reform-related information to be required by the IRS on 2011 Form 990 Schedule H — questions that were optional for 2010 on financial assistance, billing and collections, and emergency medical care are now required for 2011.

T.J., a partner in the Health Care Practice Group and a member of its Regulatory Environment team, said, “The announcement lets people know that even though questions on financial assistance and billing and collections on the 2010 Schedule H were optional for everybody, in 2011, the new form that is now available and out in draft form, and presumably will be finalized soon, expects people to complete all those questions beyond [lines] 1-7.”

He noted that “The IRS made revisions to the questions to make people happy,” and also “revised them very carefully so that they more closely track the statute.”

 

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Source: BNA Daily Tax Report