Instructions For Form 990-Pf - Return Of Private Foundation Or Section 4947(A)(1) Nonexempt Charitable Trust Treated As A Private Foundation - Internal Revenue Service - 2010 Page 4
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Form 2220, Underpayment of
8275-R below) that are not otherwise
Pub. 3833, Disaster Relief, Providing
Estimated Tax by Corporations. Form
adequately disclosed on the tax return.
Assistance Through Charitable
2220 is used by corporations and trusts
The disclosure is made to avoid parts of
Organizations.
filing Form 990-PF to see if the foundation
the accuracy-related penalty imposed for
owes a penalty and to figure the amount
disregard of rules or substantial
Publications and forms are available at no
of the penalty. Generally, the foundation
understatement of tax. Form 8275 is also
charge through IRS offices or by calling
is not required to file this form because
used for disclosures relating to preparer
1-800-TAX-FORM (1-800-829-3676).
the IRS can figure the amount of any
penalties for understatements due to
F. Use of Form 990-PF To
penalty and bill the foundation for it.
unrealistic positions or for willful or
However, complete and attach Form 2220
reckless conduct.
Satisfy State Reporting
even if the foundation does not owe the
Form 8275-R, Regulation Disclosure
penalty if:
Requirements
Statement. Use this form to disclose any
•
The annualized income or the adjusted
item on a tax return for which a position
Some states and local government units
seasonal installment method is used, or
has been taken that is contrary to
will accept a copy of Form 990-PF and
•
The foundation is a “large
Treasury regulations.
required attachments instead of all or part
organization,” (see General Instruction O)
of their own financial report forms.
Form 8300, Report of Cash Payments
computing its first required installment
Over $10,000 Received in a Trade or
based on the prior year’s tax.
If the organization plans to use Form
Business. Used to report cash amounts
If Form 2220 is attached, check the box
990-PF to satisfy state or local filing
in excess of $10,000 received in a single
on Form 990-PF, page 4, Part VI, line 8
requirements, such as those from state
transaction (or in two or more related
and enter the amount of any penalty on
charitable solicitation acts, note the
transactions) in the course of a trade or
this line.
following.
business (as defined in section 162).
Form 4506, Request for Copy of Tax
Determine state filing requirements.
Form 8822, Change of Address. Used
Return. Used by the organization or
Consult the appropriate officials of all
by taxpayers to notify the IRS of changes
designated third party to get a complete
states and other jurisdictions in which the
in individual and business mailing
copy of the organization’s return.
organization does business to determine
addresses.
their specific filing requirements. “Doing
Form 4506-A, Request for Public
Form 8886-T, Disclosure by
business” in a jurisdiction may include
Inspection or Copy of Exempt or
Tax-Exempt Entity Regarding
any of the following:
Political Organization IRS Form. Used
•
Prohibited Tax Shelter Transaction.
Soliciting contributions or grants by
to inspect or request a copy of an exempt
Used by an exempt organization to
mail or otherwise from individuals,
or political organization’s return, report,
disclose whether it was a party to a
businesses, or other charitable
notice, or exemption application by the
prohibited tax shelter transaction.
organizations;
public or the organization.
•
Conducting programs;
Form 8868, Application for Extension
Form 4720, Return of Certain Excise
•
Having employees within that
of Time To File an Exempt
Taxes Under Chapters 41 and 42 of the
jurisdiction; or
Organization Return. Used by an
Internal Revenue Code. Is primarily
•
Maintaining a checking account or
exempt organization to request an
used to determine the excise taxes
owning or renting property there.
automatic 3-month extension of time to
imposed on:
•
file its return and also to apply for an
Monetary tests may differ. Some or all
Acts of self-dealing between private
additional (not automatic) 3-month
of the dollar limitations that apply to Form
foundations and disqualified persons,
•
extension if necessary.
990-PF when filed with the IRS may not
Failure to distribute income,
•
apply when using Form 990-PF instead of
Excess business holdings,
Form 8870, Information Return for
•
state or local report forms. IRS dollar
Investments that jeopardize the
Transfers Associated With Certain
limitations that may not meet some state
foundation’s charitable purposes,
Personal Benefit Contracts. Used to
•
requirements are the $5,000 total assets
Making political or other noncharitable
identify those personal benefit contracts
minimum that requires completion of Part
expenditures, and
for which funds were transferred to the
•
II, column (c), and Part XV; and the
Prohibited tax shelter transactions.
organization, directly or indirectly, as well
$50,000 minimum for listing the highest
as the transferors and beneficiaries of
Form 5500, Annual Return/Report of
paid employees and for listing
those contracts.
Employee Benefit Plan. Is used to
professional fees in Part VIII.
Form 8899, Notice of Income from
report information concerning employee
Additional information may be
Donated Intellectual Property. Used to
benefit plans and Direct Filing Entities.
required. State and local filing
report income from qualified intellectual
Form 8282, Donee Information Return.
requirements may require attaching to
property.
Required of the donee of “charitable
Form 990-PF one or more of the
Form 8921, Applicable Insurance
deduction property” that sells, exchanges,
following:
Contracts Information Return. Used by
or otherwise disposes of the property
•
Additional financial statements, such as
an exempt organization to report its direct
within 3 years after the date it received
a complete analysis of functional
or indirect acquisition of certain insurance
the property. Also required of any
expenses or a statement of changes in
contracts.
successor donee that disposes of
net assets;
charitable deduction property within 3
•
Notes to financial statements;
E. Useful Publications
years after the date the donor gave the
•
Additional financial schedules;
property to the original donee. It does not
•
The following publications may be helpful
A report on the financial statements by
matter who gave the property to the
in preparing Form 990-PF:
an independent accountant; and
successor donee. It may have been the
•
•
Pub. 525, Taxable and Nontaxable
Answers to additional questions and
original donee or another successor
Income,
other information.
donee. For successor donees, the form
•
Pub. 583, Starting a Business and
Each jurisdiction may require the
must be filed only for any property that
Keeping Records,
additional material to be presented on
was transferred by the original donee
•
Pub. 598, Tax on Unrelated Business
forms they provide. The additional
after July 5, 1988.
Income of Exempt Organizations,
material does not have to be submitted
•
Form 8275, Disclosure Statement.
Pub. 910, IRS Guide to Free Tax
with the Form 990-PF filed with the IRS.
Taxpayers and tax return preparers
Services,
•
should attach this form to Form 990-PF to
Pub. 1771, Charitable
If required information is not provided
disclose items or positions (except those
Contributions — Substantiation and
to a state, the organization may be asked
contrary to a regulation — see Form
Disclosure Requirements, and
by the state to provide it or to submit an
-4-
Form 990-PF Instructions
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