The National Association of Bond Lawyers has suggested several changes to the proposed instructions to the Internal Revenue Service's Form 990 Schedule K, including a modification to wording the organization fears could force compliant nonprofit organizations to admit the possibility of future noncompliance.

In a letter sent to the IRS Monday, NABL requested several modifications be made to the agency's draft instructions, which were finalized last December and explain to charities how to fill out the new Form 990 and Schedule K. The schedule requires nonprofit organizations to provide detailed information about their tax-exempt bonds that are outstanding.

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