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IRS Revised Form 990 Schedule K Webinar
Monday, November 16, 2009 2:30 PM - 3:30 PM EST
Click on this link to register: https://www1.gotomeeting.com/register/503778072
Schedule K affects 501(c)(3) organizations with $100,000 outstanding tax-exempt bond debt issued after December 31, 2002. In addition to general information about each bond issue, Schedule K requires detailed information about the use and reinvestment of bond proceeds, nonqualified use of bond-financed assets and arbitrage compliance.
Post-Issuance Compliance and Recordkeeping
The IRS imposes recordkeeping requirements on borrowers to determine post-issuance compliance with a variety of tax rules. We will discuss the recordkeeping requirements for borrowers of tax-exempt debt, including use of proceeds and bond financed facilities, spending and investments.
Form 990 and Schedule K
For non-profits with outstanding tax-exempt bonds, Schedule K is required to be completed for 2009. We will review the form and the source documents needed to complete Schedule K.
Michela Daliana, Partner
Hawkins Delafield & Wood LLP
David Panico, Partner
Robinson & Cole LLP
Cynthia D. Peoples-H., Assistant Director