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 - 2008 Page 3
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Form 1096, Annual Summary and
private foundation that spends at least
Form 940, Employer’s Annual Federal
Transmittal of U.S. Information
85% of the smaller of its adjusted net
Unemployment (FUTA) Tax Return.
•
Returns. Used to transmit Forms 1099,
income (figured in Part I) or its minimum
Form 941, Employer’s Quarterly
1098, 5498, and W-2G to the IRS. Do not
investment return (figured in Part X)
Federal Tax Return.
use it to transmit electronically.
directly for the active conduct of the
These forms are used to report social
exempt purpose or functions for which the
security, Medicare, and income taxes
Form 1098-C, Contributions of Motor
foundation is organized and operated and
withheld by an employer and social
Vehicles, Boats, and Airplanes.
that also meets the assets test, the
security and Medicare taxes paid by an
Information return for reporting
endowment test, or the support test
employer.
contributions of qualified motor vehicles,
(discussed in Part XIV).
boats, and airplanes from donors.
If income, social security, and
5. A nonoperating private foundation
Medicare taxes that must be withheld are
Forms 1099-INT, MISC, OID, and R.
is a private foundation that is not a private
not withheld or are not paid to the IRS, a
Information returns for reporting certain
operating foundation.
trust fund recovery penalty may apply.
interest; miscellaneous income (for
6. A foundation manager is an officer,
The penalty is 100% of such unpaid
example, payments to providers of health
director, or trustee of a foundation, or an
taxes.
and medical services, miscellaneous
individual who has powers similar to
income payments, and nonemployee
This penalty may be imposed on all
those of officers, directors, or trustees. In
compensation); original issue discount;
persons (including volunteers, see below)
the case of any act or failure to act, the
and distributions from retirement or
whom the IRS determines to be
term “foundation manager” may also
profit-sharing plans, IRAs, SEPs or
responsible for collecting, accounting for,
include employees of the foundation who
SIMPLEs, and insurance contracts.
and paying over these taxes, and who
have the authority to act.
willfully did not do so.
Form 1120, U.S. Corporation Income
7. A disqualified person is:
Tax Return. Filed by nonexempt taxable
a. A substantial contributor (see
This penalty does not apply to any
private foundations that have taxable
instructions for Part VII-A, line 10, on
volunteer, unpaid member of any board of
income under the income tax provisions
page 19);
trustees or directors of a tax-exempt
(subtitle A of the Code). The Form
organization, if this member:
b. A foundation manager;
•
990-PF annual information return is also
Is solely serving in an honorary
c. A person who owns more than 20%
filed by these taxable foundations.
capacity,
of a corporation, partnership, trust, or
•
Does not participate in the day-to-day
Form 1120-POL, U.S. Income Tax
unincorporated enterprise that is itself a
or financial activities of the organization,
Return for Certain Political
substantial contributor;
and
Organizations. Section 501(c)
d. A family member of an individual
•
Does not have actual knowledge of the
organizations must file Form 1120-POL if
described in a, b, or c above; or
failure to collect, account for, and pay
they are treated as having political
e. A corporation, partnership, trust, or
over these taxes.
organization taxable income under
estate in which persons described in a, b,
However, this exception does not apply if
section 527(f)(1).
c, or d above own a total beneficial
it results in no person being liable for the
interest of more than 35%.
Form 1128, Application To Adopt,
penalty.
f. For purposes of section 4941
Change, or Retain a Tax Year. Form
(self-dealing), a disqualified person also
Form 990-T, Exempt Organization
1128 is used to request approval from the
includes certain government officials.
Business Income Tax Return. Every
IRS to change a tax year or to adopt or
(See section 4946(c) and the related
organization exempt from income tax
retain a certain tax year.
regulations.)
under section 501(a) that has total gross
Form 2220, Underpayment of
income of $1,000 or more from all trades
g. For purposes of section 4943
Estimated Tax by Corporations. Form
or businesses that are unrelated to the
(excess business holdings), a disqualified
2220 is used by corporations and trusts
organization’s exempt purpose must file a
person also includes:
filing Form 990-PF to see if the foundation
return on Form 990-T. The form is also
i. A private foundation that is
owes a penalty and to figure the amount
used by tax-exempt organizations to
effectively controlled (directly or indirectly)
of the penalty. Generally, the foundation
report other additional taxes including the
by the same persons who control the
is not required to file this form because
additional tax figured in Part IV of Form
private foundation in question, or
the IRS can figure the amount of any
8621, Return by a Shareholder of a
ii. A private foundation to which
penalty and bill the foundation for it.
Passive Foreign Investment Company or
substantially all of the contributions were
However, complete and attach Form 2220
Qualified Electing Fund.
made (directly or indirectly) by one or
even if the foundation does not owe the
more of the persons described in a, b,
Form 990-W, Estimated Tax on
penalty if:
•
and c above, or members of their families,
Unrelated Business Taxable Income
The annualized income or the adjusted
within the meaning of section 4946(d).
for Tax-Exempt Organizations (and on
seasonal installment method is used, or
•
8. An organization is controlled by a
Investment Income for Private
The foundation is a “large
foundation or by one or more disqualified
Foundations). Use of this form is
organization,” (see General Instruction O)
persons with respect to the foundation if
optional. It is provided only to aid you in
computing its first required installment
any of these persons may, by combining
determining your tax liability.
based on the prior year’s tax.
their votes or positions of authority,
If Form 2220 is attached, check the box
Form 1041, U.S. Income Tax Return for
require the organization to make an
on line 8, Part VI, on page 4 of Form
Estates and Trusts. Required of section
expenditure or prevent the organization
990-PF and enter the amount of any
4947(a)(1) nonexempt charitable trusts
from making an expenditure, regardless
penalty on this line.
that also file Form 990-PF. However, if
of the method of control. “Control” is
the trust does not have any taxable
Form 4506, Request for Copy of Tax
determined regardless of how the
income under the income tax provisions
Return. Used by the organization or
foundation requires the contribution to be
(subtitle A of the Code), it may use the
designated third party to get a complete
used.
filing of Form 990-PF to satisfy its Form
copy of the organization’s return.
1041 filing requirement under section
Form 4506-A, Request for Public
6012. If this condition is met, check the
D. Other Forms You May
Inspection or Copy of Exempt or
box for question 15, Part VII-A, of Form
Political Organization IRS Form. Used
Need To File
990-PF and do not file Form 1041.
to inspect or request a copy of an exempt
•
Form W-2, Wage and Tax Statement.
Form 1041-ES, Estimated Income Tax
or political organization’s return, report,
•
Form W-3, Transmittal of Wage and
for Estates and Trusts. Used to make
notice, or exemption application by the
Tax Statements.
estimated tax payments.
public or the organization.
-3-
Form 990-PF Instructions
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