Today, Treasury and the IRS issued a notice which states that the reference price for nonconventional source production credits under section 45K(d)(2)(C) is $87.39 for calendar year 2014.  The reference price applies in determining the amount of the enhanced oil recovery credit under section 43, the marginal well production credit under section 45I, and the percentage depletion in case of oil and natural gas produced from marginal properties under section 613A.  

Notice 2015-46 clarifies how a charitable hospital organization may comply with the requirement in the section 501 regulations that a hospital facility include a provider list in its financial assistance policy (FAP).  The list must include any providers, other than the hospital facility itself, delivering emergency or other medically necessary care in the hospital facility and specify which providers are and are not covered by the hospital facility’s FAP.