Tax reform and the market for tax-exempt debt

Recent developments for tax-exempt healthcare organizations.

Significant developments in the law of tax-exempt healthcare organizations occurred during the early 1990s. The span of developments includes a seminal Seventh Circuit case, Living Faith v. Commissioner, as well as an Internal Revenue Service determination letter recognizing the charitable tax status of integrated delivery systems, showing the recent activitism of the IRS in the healthcare aren...

Leveraging tax-exempt status of hospitals.

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Tax-exempt healthcare in a reformed system.

A CHARITABLE PURPOSE The history of tax exemption of healthcare organizations has implications for the future. Our nation's first healthcare facilities were exempt from the earliest tax laws because they were seen as clearly having a charitable purpose, providing care and shelter for the sick poor who had no place else to go. The tax code has never specified that healthcare organizations such a...

Tax Reform and Poverty

The tax system has a pervasive impact on poverty, both directly through its role in the distribution of society’s resources and indirectly through its effects on the incentives for economic decisions like working and saving. The two most important facets of the tax system for low-income families are payroll taxes and the Earned Income Tax Credit (EITC), the former of which levies a tax on earne...

Valuing the Debt Tax Shield