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FORM 4 OMB APPROVAL OMB Number: 32350287 Estimated average burden hours per response... 0.5 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Check this box if no longer subject
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S lon e stands for Schedule L, which is a form used to report information about certain liabilities, including loans and other debts, on a tax return.
Partnerships and S corporations are required to file Schedule L if they meet certain criteria regarding the total assets or total receipts.
Schedule L should be filled out by providing information about the liabilities of the partnership or S corporation, including details about loans and other debts.
The purpose of Schedule L is to provide the IRS with information about the liabilities of the partnership or S corporation, which helps ensure the accuracy of the tax return.
Information such as the beginning and ending balances of liabilities, details about loans and mortgages, and any other relevant debts must be reported on Schedule L.
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