Tax News & Views: Health Care Edition


Tax News & Views: Health Care Edition

June 2018 | Vol. 12 No. 47

Tax News & Views: Health Care Edition is a timely news summary bulletin authored by the Health Care Industry Group, Deloitte Tax LLP. The newsletter contains highlights from the latest tax developments in health care on Capitol Hill, at the White House, at the Internal Revenue Service, at the Treasury Department and in the courts. It is a valuable resource for tax and other professionals involved in the tax-exempt health care providers and health plans sectors, helping them remain current on tax developments that stand to have an impact on their businesses.

Updated 2017-2018 Priority Guidance Plan Released

On May 9, 2018, the US Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) issued their third quarter update to the 2017-2018 Priority Guidance Plan (the Plan). The Plan includes 20 projects related to the implementation of the Tax Cuts and Jobs Act, 2 of these projects are specifically related to the provisions for exempt organizations. Of the 20 projects, guidance has been released on 6 projects as of March 31, 2018. The Plan represents projects that Treasury and IRS intend to work on actively during the plan year from July 2017 through June 2018 but does not place any deadline on completion of projects. The following are the exempt organization priority projects related to the implementation of the Tax Cuts and Jobs Act:

10. Guidance on computation of unrelated business taxable income for separate trades or businesses under new § 512(a)(6).

18. Guidance on certain issues relating to the excise tax on excess remuneration paid by “applicable tax-exempt organizations” under § 4960.

The Plan also includes 10 projects related to exempt organizations that are priorities for the plan year. Of the 10 exempt organization projects listed for the current plan year, 9 projects were on the 2016-2017 Priority Guidance Plan. Two of these projects have had guidance published as of March 31, 2018. See the Plan at the link above for a complete listing of these projects.

Tax News & Views: Health Care Edition June 2018

IRS Request Comments on Items to be included in the 2018-2019 Priority Guidance Plan

Treasury and IRS issued Notice 2018-43 which requests public comments on items that should be included in the 2018-2019 Priority Guidance Plan that will cover plan year July 2018 through June 2019. In the Notice, Treasury and IRS state that they expect to continue focusing on guidance for implementing the Tax Cuts and Jobs Act during the remainder of the current plan year as well as the 2018-2019 plan year. Because of this, the Notice provides that a number of projects from the 2017-2018 Priority Guidance Plan will be carried forward to the 2018-2019 Priority Guidance Plan.

Comments should be submitted by June 15, 2018 for inclusion in the original 2018-2019 Priority Guidance Plan. However, Treasury and the IRS invite comments at any time and comments submitted after June 15, 2018 will be used to inform periodic updates to the Priority Guidance Plan. In addition, Treasury and the IRS continue to request letters and comments on specific provisions of the law. These letters and comments are used to inform projects and are considered in formulating guidance. For more information on how to submit comments, please see Notice 2018-43 at the link above.

Did you know?

Tax Exempt Organization Search Released
On May 7, 2018, the IRS released a new online search tool that is designed to provide faster, easier access to publicly available information related to exempt organizations. This new tool replaces EO Select Check and is designed to provide a more simplified search as well as allowing users to access a wider range of information. The new tool will provide information on an organization’s exempt status, images of newly filed Forms 990, 990-EZ, 990-T, and 990-PF, and images of favorable determination letters. In its original release, limited quantities of filed forms and determination letters will be available; new images of forms and determination letter will be added monthly.

Did you know?

Additional Resources

Deloitte Center for Health Solutions
The source for health care insights: The Deloitte Center for Health Solutions (DCHS) is the research division of Deloitte’s Life Sciences and Health Care practice. The goal of DCHS is to inform stakeholders across the health care system about emerging trends, challenges, and opportunities.

Health Care Current
Weekly insights to keep you informed and ahead. This weekly series explores breaking news and developments in the US health care industry, examines key issues facing life sciences and health care companies and provides updates and insights on policy, regulatory, and legislative changes.

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