The IRS began its Hospital Compliance Project in May 2006 by
first selecting 544 nonprofit hospitals through a review of the
Forms 990. The IRS mailed those hospitals a comprehensive
questionnaire, Form 13790, which was 9 pages long prior to adding
the requested narrative responses. After receiving completed
questionnaires from 487 of those hospitals, the IRS compiled
the data in a 178 page report, entitled "IRS Exempt
Organizations (TE/GE) Hospital Compliance Project Final
Report" (IRS Hospital Report) which was released on February
12, 2009. The IRS Hospital Report is available at
http://www.irs.gov/pub/irs-tege/frepthospproj.pdf and contains
many graphs and tables reporting data related to "community
benefit" as variously defined by the hospitals, and executive
compensation....
Specific Questions relating to this article should be addressed directly to the author.
For many years there has been a debate as to whether a company can incur a cost in relation to the acquisition of an asset or the incurral of operating expenditure, where it pays the supplier by issuing its own shares.
The ATO Compliance Program for 2010-11 released earlier this month identifies a focus on globally mobile executives and other highly paid individuals. This focus, in the context of recent significant legislative changes in the areas of foreign employment income and employee share schemes, creates significant risks for those individuals identified and their employers. Now is the time to undertake a compliance review and get the house in order before the ATO comes knocking at your door!
The Supreme Court of Pennsylvania held that a license to use canned software is a license to use tangible personal property and is therefore taxable for Sales and Use Tax purposes.
The European Commission has decided to refer Finland to the European Court of Justice because of failure to comply with a Reasoned Opinion on its legislation which discriminates against foreign pension funds.
The Danish tax system comprises of direct and indirect taxes. Direct taxes include income tax and property tax, while the principal indirect taxes are value added tax (VAT), customs, green taxes and excise duties.
The importance of economic relations between the countries has increased with the ever-growing mobility of capital in the globalised world. In the current conditions, where international investments significantly rise, companies wish to maximize their profits.
On March 18, 2010, a majority of the Illinois Supreme Court held that a religiously affiliated Illinois hospital was not entitled to an exemption from property tax because it failed to establish that it was a charitable institution.
In May, the House of Representatives passed legislation (Section 413 of H.R. 4213) that would subject non-wage earnings of certain S corporation shareholders to the self-employment tax for the first time.
