As part of the CARES Act, The Department of Health and Human Services is disbursing $175 billion to front line hospitals and other health care providers. The benefits of this fund are now available to dental providers.
Eligible dentists can receive 2% of their annual reported patient revenue. For example if your practice collected $1,000,000 according to the tax return, you’d be eligible for $20,000 ($1M *.02). There is no repayment necessary for these funds, however, it will be treated as taxable income. Please read the terms and conditions as the funds need to be used for certain expenses.
You will have 90 days to return funds if desired.
We are recommending all dental practices apply ASAP.
What You Need TO APPLY:
1. Validate Taxpayer Identification Number (TIN)
This should be the organization TIN ("Filing TIN") you will use in applying for relief funds. An Organization TIN files a tax return but may not bill Medicare or Medicaid directly. The Organization TIN may have one or more subsidiaries that do not file tax returns (disregarded or consolidated entities). The Organization TIN should complete an application by listing all of the subsidiary TINs in the applicable field within the application form. TIN Validation can take 1-2 business days to process.
Important! Only one person can serve as the program administrator per TIN. This administrator accepts responsibility to act on behalf of their organization and must agree to make their name available to others within their organization. This person may reassign or transfer their administrator role to a new individual in their organization with an Optum ID at any time by calling (866) 569-3522: for TTY dial 711. New administrator processing can take 1-2 business days to complete.
2. Confirm Revenue and Tax information
You will need to provide specific revenue and tax information through the portal once TIN Validation is complete.
3. Receive and Attest to Payment
Within 90 days of receiving this payment, you must sign an attestation confirming receipt of the funds and agreeing to the Terms and Conditions of payment. Should you choose to reject the funds, you must also complete the attestation to indicate this. The CARES Act Provider Relief Fund Payment Attestation Portal will guide you through the attestation process to accept or reject the funds. Not returning the payment within 90 days of receipt will be viewed as acceptance of the Terms and Conditions.
To be eligible to apply, a dental provider must meet all of the following requirements:
• Must not have received payment from the initial $50 billion Medicare-focused general distribution.
• Must not have received payment from the $15 billion Medicaid and Children's Health Insurance Program distribution.
• Must have filed a federal income tax return for fiscal years 2017, 2018 or 2019 or be an entity exempt from the requirement to file a federal income tax return and have no beneficial owner that is required to file a federal income tax return (for example, a state-owned hospital or health care clinic).
• Must have provided patient dental care after Jan. 31.
• Must not have permanently ceased providing patient dental care directly or indirectly through included subsidiaries. However, dental offices that shut down during the pandemic are eligible.
• If the applicant is an individual, have gross receipts or sales from providing patient dental care reported on Form 1040, Schedule C, Line 1, excluding income reported on a W-2 as a statutory employee.