PG Calc Blog

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Why Are the K-1s Late Again This Year?  Why Are They Late Every Year??

Why Are the K-1s Late Again This Year?  Why Are They Late Every Year??

It happens every year – your gift annuity donors received their 1099-R forms at the end of January, and everyone was happy. But once the calendar turned to February, the calls started coming in from your charitable remainder trust donors; they are looking for their K-1 forms, which report the income they received from their trusts. If you have a pooled income fund, you’re getting calls from those donors too, because they are also entitled to a K-1 form. And once the calendar turns into March, the calls get uglier. Everyone expected to receive their tax forms around the end of January, because that’s when all tax forms are due, right?