Tax-exempt Status
AHA today asked the Department of Treasury and Internal Revenue Service to issue guidance to help tax-exempt hospitals and health systems comply with certain provisions of the Tax Cuts and Jobs Act of 2017.
AHA responds to the US Department of Treasury Office of Tax Policy request for guidance on questions raised by new tax law.
In 2015 alone, the most recent year for which data is available, those tax-exempt hospitals participating in the 340B drug savings program provided $51.7B in total benefits to their communities.
EY was commissioned by the 黑料正能量 Association to analyze the federal revenue forgone due to the tax exemption of non-profit hospitals as well as the community benefits they provide. This study presents estimates for 2016, the most recent year for which community benefit information is鈥
A coalition of 35 national organizations, including the AHA, today urged House and Senate leaders to 鈥減rotect in full鈥 the current federal income tax treatment of private activity bonds, as envisioned by the Senate version of the Tax Cuts and Jobs Act.
The Senate voted 51-49 early Saturday to approve tax reform legislation, which includes provisions that would repeal enforcement of the Affordable Care Act mandate that most individuals have health insurance, eliminate hospitals鈥 ability to access low-cost capital financing through advance鈥
The AHA is pleased that the Tax Cuts and Job Acts of 2017 Senate bill did not eliminate the tax-exemption for private-activity bonds for not-for-profit hospitals, protecting hospitals' and health systems' access to this vital source of low-cost capital.
Twenty-one House Republicans yesterday sent a letter spearheaded by Rep. Randy Hultgren (R-IL) to House and Senate leadership urging them to preserve the tax-exempt status of private-activity bonds and advance refundings of outstanding tax-exempt bonds in any tax reform legislation. 鈥淧rivate鈥
The Senate Budget Committee today voted 12-11 along party lines to approve the Tax Cuts and Jobs Act of 2017, a