Looking for a Form 4720 Templates? Download it for free!

•

The initial taxes on private

Other organizations owing initial

170(c) (other than the United States) or

foundations and self-dealers, under

taxes on excess business holdings

an Indian tribal government (within the

sections 4941 through 4945 for

Supporting organizations described in

meaning of section 7701(a)(40)).

self-dealing, failure to distribute income,

section 4943(f)(3) and donor advised

excess business holdings, investments

funds described in section 4966(d)(2)

Any entity described in section

that jeopardize charitable purpose, and

that owe the tax reported on Schedule

4965(c) that is a party to a

TIP

taxable expenditures;

C (section 4943(a)).

PTST must file Form 8886-T.

•

The initial tax on certain supporting

Public charities making excess

organizations and donor advised funds

Managers, self-dealers, disqualified

lobbying expenditures. Public

for excess business holdings under

persons, donors, donor advisors,

charities that made the election under

section 4943;

and related persons. If you are a

section 501(h) and owe tax on excess

•

The section 4911 tax on excess

manager, self-dealer, disqualified

lobbying expenditures as figured on

lobbying expenditures by public

person, donor, donor advisor, or related

Schedule C (Form 990 or 990-EZ), Part

charities that have elected to be subject

person who owes tax under Chapter 41

II-A, must file Form 4720 to report the

to section 501(h) regarding

or 42, including entity managers under

liability and pay the tax (Schedule G).

expenditures to influence legislation.

section 4965, and you have the same

(Private foundations and section

tax year (or accounting year, as

Certain organizations (and possibly

4947(a) trusts are not eligible to make

applicable) of the entity, you may report

their managers) whose section

this election.);

the tax you owe on the Form 4720 filed

501(c)(3) status is revoked because of

•

The section 4912 tax on excess

by the entity. Managers, self-dealers,

excess lobbying activities are subject to

lobbying expenditures that result in loss

and disqualified persons who do this

a 5% excise tax on their lobbying

of section 501(c)(3) tax-exempt status;

are responsible for the parts that relate

expenditures.

•

to taxes they owe and should include

The section 4955 tax imposed on any

amount paid or incurred by a section

their own check or money order,

Organizations making political

501(c)(3) organization that participates

expenditures. All section 501(c)(3)

payable to the United States Treasury,

or intervenes in any political campaign

with the return.

organizations that make a political

on behalf of, or in opposition to, any

expenditure must file Form 4720 to

candidate for public office;

report the liability and pay the tax.

Managers, self-dealers, disqualified

•

Organization managers may report any

persons, donors, donor advisors, and

The section 4958 initial taxes on

first tier tax they owe on Schedule F of

disqualified persons and organization

related persons who owe tax under

Form 4720. (See Schedule F

managers of section 501(c)(3) (except

Chapter 41 or 42, including entity

instructions for the definition of political

private foundations), 501(c)(4), and

managers under section 4965, and do

expenditures.)

501(c)(29) organizations that engage in

not have the same tax year (or

excess benefit transactions;

accounting year, as applicable) or do

Charitable organizations that make

•

not sign the return of the entity, must

The section 4965 taxes related to

certain premium payments on

file a separate return on Form 4720

prohibited tax shelter transactions;

personal benefit contracts. Form

showing the tax owed and the name of

•

The section 4966 taxes on taxable

4720 must be filed by any organization

the entity for which you owe tax. If you

distributions by sponsoring

described in section 170(c) or section

file a separate Form 4720, enter your

organizations maintaining donor

664(d) that answered “Yes” to question

tax year at the top of the form. Enter

advised funds;

7f in Part V of Form 990, question 6b in

your name, address, and taxpayer

Part VII-B of Form 990-PF, question

•

The section 4967 taxes on

identification number in Part II-A.

80b in Part VI-B of Form 5227, or that

distribution of prohibited benefits from

Complete all the information the form

otherwise paid premiums on a personal

donor advised funds;

requires, to the extent possible, that

benefit contract in connection with a

•

The section 170(f)(10) tax on any

applies to your liability.

transfer to an organization for which a

premiums paid on a personal benefit

charitable deduction was not allowed to

contract in connection with a transfer to

the transferor.

Managers of tax favored

an organization or charitable remainder

retirement plans, individual

TIP

trust for which a charitable deduction is

Sponsoring organizations

retirement arrangements, and

not allowed to the transferor; and

maintaining donor advised funds.

savings arrangements described in

•

The section 664(c)(2) tax on the

All section 170(c) organizations

sections 401(a), 403(a), 403(b), 529,

unrelated business taxable income of a

(excluding private foundations and

457(b), 408(a), 220(d), 408(b), 530, or

charitable remainder trust.

government organizations referred to in

223(d) must report and pay tax due

sections 170(c)(1) and 170(c)(2)(A))

under section 4965(a)(2) on Form

Who Must File

that maintain one or more donor

5330.

advised funds must file Form 4720 to

Private foundations and section

report the liability and pay the tax owed

4947(a) trusts. Generally, Form 4720

Charitable Remainder Trusts. All

on any taxable distributions under

must be filed by all organizations,

charitable remainder trusts described in

section 4966 (Schedule K).

including foreign organizations, that

section 664 that have unrelated

answered “Yes” to question 1b, 1c, 2b,

business taxable income for the tax

Certain tax-exempt entities that are a

3b, 4a, 4b, 5b, 6b, or 7b in Part VII-B of

year must file Form 4720 to report the

party to a prohibited tax shelter

Form 990-PF; or “Yes” to question 75b,

liability and pay the tax due. Unrelated

transaction (PTST). Certain

75c, 77b, 78a, 78b, 79b, or 80b in Part

business taxable income is figured

tax-exempt entities must file Form 4720

VI-B, and item G on page 1, of Form

under section 512 and is determined as

to report the liability and pay the tax

5227. A trust described in section

if Part III of subchapter F applies to

due under section 4965(a)(1). This

4947(a)(2) is considered a private

such trusts.

requirement applies to entities

foundation insofar as it is subject to

described in section 501(c), 501(d), or

Chapter 42 provisions.

-2-

Form 4720 Instructions

Instructions For Form 4720 - Instructions For Return Of Certain Excise Taxes - Department Of The Treasury - 2010 Page 2

Related Articles

Related forms

Related Categories