Objectives
After participating in the webinar, participants will be able to:
- Understand common issues hospitals are facing in implementing 501(r) regulations.
- Identify "gray areas" in the regulations and understand how these areas may be interpreted.
- Prepare for compliance with the IRS regulations.
The webinar is provided as general information and is not tax or legal advice.
Preston Quesenberry
Of Counsel
Loeb & Loeb
Preston Quesenberry advises clients throughout the nonprofit sector on a wide variety of legal and strategic issues, including qualification for tax-exempt status, unrelated business income tax (UBIT), charitable contributions, domestic and international grant-making, joint ventures, lobbying and political activities and executive compensation. He has a particular depth of experience advising charitable hospitals and other tax-exempt organizations on regulatory issues related to the Patient Protection and Affordable Care Act.
A former senior attorney in the Tax Exempt and Government Entities Division of the IRS Office of Chief Counsel, Mr. Quesenberry drafted many of the Treasury regulations and other published guidance that play a critical role in his clients’ business structures and operations. For example, during his tenure at the IRS, he was extensively involved in several guidance projects relating to the Affordable Care Act and regulations regarding supporting organizations and program-related investments. He also supported the Department of Justice and field attorneys with litigation and supervised attorneys in issuing private letter rulings and determination letters on exempt organization issues, including matters related to UBIT, private foundation excise taxes, political activities, and qualification for tax-exemption under a wide-variety of Code sections. In addition, he served as a senior attorney-advisor to the IRS Deputy Chief Counsel (Technical), in which role he reviewed all tax guidance approved by the IRS Office of Chief Counsel.