Henry H. Raattama

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Hank Raattama is a tax lawyer who focuses on nonprofit organizations, higher education institutions, individuals, and families in complex tax, estate, and business planning matters. Chambers USA describes Hank as “a leading nonprofit expert” and notes his “tremendous reputation.”

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Enhancements to Florida’s Solicitation of Funds Law Now Effective – Charities Now Have Tighter Regulations

In response to the Tampa Bay Times investigative story, “America’s Worst Charities,” Florida’s Commissioner of Agriculture, Adam Putnam, worked with the Florida Legislature to enact material enhancements to Florida’s Solicitation of Funds statutes (Chapter 496 – HB 629). Any charity that is subject to registration with the Department of Agriculture and Consumer Services (the Department), including not-for-profit hospitals and other … Continue Reading

IRS Issues Notices 2014-2 and 2014-3 to Assist Not For Profit Hospitals Comply with §501(r)

On 12/30/2013, the IRS issued two Notices designed to help §501(c)(3) hospitals comply with Internal Revenue Code (IRC) § 501(r). Section 501(r) is part of the Affordable Care Act and requires each tax exempt hospital to (1) conduct a community health care needs assessment (CHNA), (2) adopt a financial assistance policy, (3) limit charges to persons qualifying for financial assistance … Continue Reading

Proposed Rule Guidance for Charitable Hospitals

On April 3, 2013, the IRS released a proposed rule that provides guidance to charitable hospitals on Community Health Needs Assessments (CHNA) and related excise tax and reporting requirements imposed by §501(r), which is part of the Affordable Care Act. REG 106 499-12. Section 501(c)(3) hospitals are required, among many other §501(r) requirements, to conduct a CHNA every three years. … Continue Reading

The Affordable Care Act as Tax Law?

The Affordable Care Act (ACA) was enacted on March 23, 2010. As we recognize the third anniversary of this comprehensive legislation, it is worth noting that although the ACA is not a tax bill, the law has almost fifty tax provisions. These include the imposition of taxes and fees, new requirements to report to the IRS, and new obligations to … Continue Reading