Media Mentions
2008
Ralph DeJong was quoted in the September 17 issue of BNA's Daily Tax Report in an article regarding the forthcoming guidance on tax code Section 457(f). "There are numerous opportunities under other available methods that are less onerous than 457(f) for executives of tax-exempt organizations to make elective deferrals of compensation that can be vested without running into some of the problems associated with Section 457(f)," Mr. DeJong said.
Ralph E. DeJong, Health, Tax Exemption
Ralph DeJong and Elizabeth Mills were quoted in the April 14 issue of Modern Healthcare Online in an article regarding instructions for not-for-profit hospitals and health systems using the new Form 990. "Draft instructions released last week could significantly expand the number of key hospital and health system employees whose pay, bonuses and benefits must be reported," Mr. DeJong said. "It's very specific. They're really trying to get information that can be compared, and is apples to apples across organizations, and enhance transparency," Ms. Mills said.
Ralph E. DeJong, Elizabeth M. Mills PC, Health, Tax Exemption
Ralph E. DeJong and Elizabeth M. Mills were quoted in the April 14 issue of Modern Healthcare regarding the new IRS Form 990. "Draft instructions released last week could significantly expand the number of key hospital and health system employees whose pay, bonuses and benefits must be reported," said Mr. DeJong. "It's very specific. They're really trying to get information that can be compared, and is apples to apples across organizations, and enhance transparency,'' Ms. Mills said.
Ralph E. DeJong, Elizabeth M. Mills PC, Health, Tax Exemption
Ralph DeJong was quoted in the March 21 issue of BNA's Health Law Reporter in an article regarding the IRS intending to issue instructions for the new Form 990. "Entities need to prepare now for the new form. The new form begins operationally on the first day of the fiscal year beginning in 2008 and calendar year filers should have started to collect data and expand data," Mr. DeJong said.
Ralph E. DeJong, Health, Tax Exemption
Ralph DeJong was quoted in the March 21 issue of TaxAnalysts in an article regarding Part IV instructions for the hospital schedule of the redesigned Form 990. "This would be an explanation that many hospitals have until now included in their program services accomplishments section attached to their 990, and now that information has to be an express, explicit portion of the Schedule H filing," Mr. DeJong said.
Ralph E. DeJong, Health, Tax Exemption
Ralph DeJong was quoted in the January 7 issue of Modern Healthcare in an article regarding the overhauled Form 990 and its governance policies and executive pay and perks, including executive compensation breakdown. "This will end up being a far more reliable picture of compensation and all of its constituent elements," commented Mr. DeJong. Organizations that had hoped to avoid disclosing unusual perks for key officers are out of luck, added DeJong, who said tax officials responded to criticism of its draft with “smart and savvy” changes.
Ralph E. DeJong, Health, Tax Exemption
2007
Ralph DeJong was quoted on September 10 on CFO.com regarding an IRS rule issued in late July that restores the existing tax code, forcing employers to take greater responsibility for developing and overseeing 403(b) plans into line with rules governing 401(k)s, which are offered by non-profits as well as many profit-making companies. Mr. DeJong contends that the need for change was likely induced by, "a vacuum of responsibility." He states that, "Historically, tax-exempt organizations that sponsored or made available 403(b) tax-sheltered annuities took a hands-off approach." Citing that compliance failures are the main reasons the IRS pushed through the new rule, Mr. DeJong states that the most noticeable change to the tax rules is that employers will have to develop a plan document that identifies how the vendor and the employer with work together to administer the 403(b) plan.
Ralph E. DeJong, Employee Benefits & Pensions, Health
Ralph DeJong was quoted in the June 18 issue of Modern Healthcare in an article regarding the IRS expanding public reporting of what not-for-profit hospitals do for their communities to justify federal tax breaks. “The agency’s ambitious schedule leaves not-for-profits little time to review and change operations or governance policies, if necessary, before the start of fiscal 2008. For hospitals and health systems, the changes are likely to be substantital,” Mr. DeJong said.
Ralph E. DeJong, Health, Tax Exemption
Ralph DeJong and Michael Peregrine were quoted in the June 4 issue of The National Law Journal in an article they co-wrote in regards to the recent decision in the controversial Spitzer v. Grasso litigation dealing with Grasso's excessive compensation payments. "This decision thus suggests, in a significant and dramatic way, the likely of different strategic options for both the "enforcer" of nonprofit corporation laws and for the subjects of that enforcement," Mr. DeJong and Mr. Peregrine wrote.
Ralph E. DeJong, Michael W. Peregrine, Executive Compensation, Health
Ralph DeJong was quoted in the February 26 issue of BNA, Inc. Daily Tax Report in an article regarding the IRS's 2006 Form 990. "What it leaves open is the very cumbersome and intrusive process of determining from directors and independent contractors who they may be related to, what business interests they may have outside the organizations they serve on, when they or their family members may be related through trusts, partnerships, or business corporations, and the extent of those relationships," Mr. DeJong said.
Ralph E. DeJong, Employee Benefits & Pensions, Tax
2006
Ralph DeJong was quoted by Modernhealthcare.com on May 25 regarding not-for-profits' executive compensation. "The IRS' soft audits focused on poorly reported facets of not-for-profits' executive compensation, particularly perks and deferred compensation that are expected to accrue value," Mr. DeJong says.
Ralph E. DeJong, Employee Benefits & Pensions, Executive Compensation
2004
Ralph DeJong was quoted in the November 22 issue of Health Care Daily in an article regarding the proposed rules issued by the IRS and how they are extremely favorable for nonprofit health care organizations. Ralph agrees. "Employees will have more flexibility to move between vendors and contracts than they previously had," Mr. DeJong said. "On the other hand, they may have to look to their employer than previously to determine to which vendors they will have access," he added.
