Event | Claremont

    Tax-Exempt Bond Financing: Exploring IRS Form 990 Requirements and IRS Questionnaires to Colleges & Universities

    25 February 2009
    Boardroom, Alexander Hall, Pomona College, 550 N. College Avenue, Claremont, CA

    The Internal Revenue Service (IRS) continues its focus on perceived abuses in the use of tax-exempt bonds by 501(c)(3) organizations, including colleges and universities, and in particular on post-issuance compliance with the tax-exempt bond rules. Squire Sanders, in conjunction with Wedbush Morgan Securities, will host an educational roundtable on February 25, 2009 to discuss these current IRS issues.

    Lawyers from Squire Sanders' public finance and tax practices will guide participants through the details of the revised IRS Form 990, which imposes stringent new post-issuance tax compliance and reporting requirements on colleges and universities. Any 501(c)(3) organization that has not established internal procedures both to closely monitor its compliance with the tax requirements applicable following issuance of tax-exempt bonds and to maintain proper records evidencing that compliance should establish those procedures as soon as possible to be able to respond to the new Form 990 requirements.

    In addition, we will review the details of the distribution of Post-Issuance Tax Compliance Questionnaires, which are being sent to 400 private and public colleges and universities that have borrowed money through tax-exempt bonds. Your institution might be one of them, and now is the time to prepare.

    While the primary focus of this roundtable is on issues raised by these new federal tax requirements, there will also be a brief update on the Securities and Exchange Commission rules on post-issuance compliance related to continuing disclosure requirements.

    We hope you can join us for this informative and timely program!

    RSVP by February 20, 2009.

    There is no cost for this event.

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