Schedule K

Subscribe to Schedule K RSS Feed

Undivided Portion and Qualified Equity

By Squire Patton Boggs on Posted in Management contracts/Rev. Proc. 97-13/Rev. Proc. 2016-44/Rev. Proc. 2017-13, Private Activity, Private Business Use, Qualified 501(c)(3) Bonds, Schedule K
Over the past few weeks, we have written multiple posts (see here, here, and here) on the recently promulgated Final Treasury Regulations governing, among other things, allocating proceeds of tax-exempt bonds and other sources to projects that  involve both qualified and private uses. As we’ve described before, the new Regulations allow issuers and 501(c)(3) borrowers … Continue Reading

When Harry Met SALY’s Schedule K

By Squire Patton Boggs on Posted in Returns, Schedule K
Dear Gnomes are People Too, Hello, my name is Harry and this letter is in response to your request, in light of the trenchant analysis previously rendered on Schedule K (link to trenchant analysis), that I review the most recent draft of your Schedule K prior to filing your tax return with the Internal Revenue … Continue Reading

The “K” is for “Headache”

By Squire Patton Boggs on Posted in Returns, Schedule K
Abandon all hopeTo state the obvious, everything on a form that you file with the IRS should be factually accurate. Above and beyond the fact that a 501(c)(3) organization must sign Form 990 (including Schedule K) under penalty of perjury, even innocent mistakes can needlessly raise the risk of an IRS audit.  We know that the IRS … Continue Reading
LexBlog