22 February 2018 EY-annotated Form 990 and instructions highlight changes for 2017 EY has prepared annotated versions of the 2017 federal Form 990 (Return of Organization Exempt From Income Tax), schedules and instructions that show what Form 990 changes the IRS has made for tax year 2017. These documents (which are attached) highlight changes from tax year 2016, explain significant changes, and include a Table of Contents from which a reader can hyperlink to particular parts of the form and specific schedules and instructions. The majority of changes to the 2017 federal Form 990, schedules and instructions consist of minor clarifications and updates. However, changes of note include: 1. The instructions to Schedule H, Part V, Section B, have been revised to reflect the Section 501(r) requirements that: (a) the community health needs assessment includes prioritized descriptions of significant health needs in the community (which now must be explained in Part V, Section C), and (b) the financial assistance policy must apply to all emergency and other medically necessary care provided (i) by the hospital facility, and (ii) in the hospital facility by a partnership in which the hospital owns a capital or profits interest, unless the provision of care by that partnership is an unrelated trade or business. 2. The instructions to Schedule R include a revised example illustrating common control of a related organization. Few significant changes to the 2017 Form 990, schedules and instructions have been made from the 2016 versions. This reflects the IRS Tax Exempt and Government Entities Division's shift from redesigning Form 990 to using Form 990 as a source for its data-driven approach to exam case selection. Thus, exempt organizations should continue to complete Form 990 and its associated schedules pursuant to the instructions, while incorporating any changes to the instructions into their compliance procedures. — For more information about EY's Exempt Organization Tax Services group, visit us at www.ey.com/ExemptOrg.
Document ID: 2018-0393 | |||||||||||||||||||