Good News: IRS Releases Notice Affecting Contributions to HEART
Additional guidance released by the IRS eliminates any potential federal income tax cost for taxpayers who contribute to a qualified rural hospital organization (RHO) in exchange for a state income tax credit. And, of course, their 100% state income tax credit remains intact.
The IRS confirmed the potential federal deductibility of contributions to a qualified RHO by pass-through entities as ordinary and necessary business expenses.
For more details, refer to the following email from Georgia HEART:
Good News: IRS Releases Notice Affecting Contributions to Georgia HEART
Other important email updates from Georgia HEART relating to this topic include:
Please refer to our one-pager and FAQ sheet for more information: