The IRS recently issued Revenue Procedure 2022-19, which permits S corporations to remedy certain inadvertent terminations of S corporation status and invalid elections without having to request a costly Private Letter...more
The IRS has revoked the 501(c)(3) tax-exempt status of a non-profit hospital for failure to comply with the requirements of 501(r) imposed by the Affordable Care Act in 2010. Specifically, the IRS stated that the hospital...more