IRS Releases Guidance on Private Business Use

October 31, 2014
Client Alert

On October 24, 2014, the IRS issued Notice 2014-67, Private Business Use of Tax-Exempt Bond Financed Facilities. The Notice provides rules under which a governmental entity or a 501(c)(3) organization may participate in the Medicare Shared Savings Program through an accountable care organization without causing private business use of its tax-exempt bond-financed facilities. Additionally, the Notice expands the management contract safe harbor guidelines of Revenue Procedure 97-13 to permit certain productivity awards and liberalizes the requirements for certain types of 5-year contracts that will not result in private business use.

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