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For nonprofit organizations that borrow on a tax-exempt basis, the complexities of completing Schedule K continue to grow each year, requiring more time and effort while increasing the possibility of reporting missteps.

BLXSKAN offers you ...

  • BLX and Orrick guidance, insight, and interpretation of Schedule K
  • A clear explanation of Schedule K questions and instructions, including defined terminology and links to applicable Treasury Regulations
  • A worksheet to help determine accurate responses to complicated “Proceeds” questions on Schedule K
  • An organized system to coordinate responses with prior IRS filings

With BLXSKAN, you have the immediate benefits of ...

  • Eliminating most common mistakes when completing Schedule K
  • Easy navigation of a complex and confusing IRS form and instructions
  • Alerts when information may have been entered incorrectly
  • Storing information for use in future Schedule K filings
  • An open line of communication with BLX consultants

BLX can help ...

To assist nonprofits in meeting ongoing post-issuance tax compliance responsibilities, BLX offers a wide range of postissuance services, including:

  • BLXSKAN (Schedule K Assistance for Nonprofits)
  • Annual private business use review and calculation
  • Comprehensive review of the expenditure and use of bond proceeds
  • Periodic review of all contracts, leases and arrangements with third parties relating to the use of bond financed facilities
  • Final allocation analysis
  • Development and review of written post-issuance tax compliance policies and procedures
  • Educational seminars and webinars

 

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Sample Screenshots [click to enlarge]

 

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BLXSKAN provides you with a summary of all your bond issues, showing your progress on a bond issue by bond issue basis.

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BLXSKAN includes the IRS Schedule K Instructions for each question along with "BLX Insight", providing detailed interpretation and guidance. Your responses are also coordinated with pre-loaded information from 8038s and prior Schedule K filings.

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Additional features of BLXSKAN include links to applicable Treasury Regulations and defined terminology.

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BLXSKAN provides you with a worksheet to help determine accurate responses to complicated questions about bond proceeds.

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BLXSKAN provides suggested language for the Supplemental Information Section of Schedule K when needed.

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BLXSKAN allows you to generate and save a PDF of Schedule K at any level of completion.