Glossary of Healthcare Terms

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501(c)(3) Exemption

Healthcare providers may qualify for a federal tax exemption if they meet the Internal Revenue Service (IRS) requirements for charitable organizations under section 501(c)(3) of the Internal Revenue Code (IRC), if the enterprise is “organized and operated exclusively for exempt purposes,” and none of its earnings are allocated to private shareholders or individuals. Exempt purposes include those that are charitable, religious, educational, and scientific.

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