Maintenance of tax-exempt status
The Internal Revenue Service recently redesigned Form 990 for purposes of enhancing transparency and promoting tax compliance for tax-exempt organizations. However, as a result of such redesign, tax-exempt organizations are required to provide extensive information to the Internal Revenue Service, including financial information and information on the organization's governance. Our attorneys work closely with tax exempt organizations to structure their tax exempt activities to comply with the IRS's requirements for obtaining and maintaining tax-exempt status. In particular, our attorneys focus on assisting nonprofit hospitals and other tax-exempt healthcare organizations in maintaining tax-exempt status in light of recent developments in Illinois case law and recent Illinois statutory enactments requiring such organization to implement charity care policies.