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 4
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32Form 4720, Return of Certain Excise
Prohibited Tax Shelter Transaction.
business” in a jurisdiction may include
Taxes Under Chapters 41 and 42 of the
This form is used by an exempt
any of the following:
•
Internal Revenue Code. Is primarily
organization to disclose whether it was a
Soliciting contributions or grants by
used to determine the excise taxes
party to a prohibited tax shelter
mail or otherwise from individuals,
imposed on:
transaction.
businesses, or other charitable
•
Acts of self-dealing between private
organizations,
Form 8868, Application for Extension
•
foundations and disqualified persons,
Conducting programs,
of Time To File an Exempt
•
•
Failure to distribute income,
Having employees within that
Organization Return. This form is used
•
Excess business holdings,
jurisdiction, or
by an exempt organization to request an
•
•
Investments that jeopardize the
Maintaining a checking account or
automatic 3-month extension of time to
foundation’s charitable purposes,
owning or renting property there.
file its return and also to apply for an
•
Making political or other noncharitable
Monetary tests may differ. Some or all
additional (not automatic) 3-month
expenditures, and
of the dollar limitations that apply to Form
extension if the initial 3-month extension
•
Prohibited tax shelter transactions.
990-PF when filed with the IRS may not
is not enough time.
apply when using Form 990-PF instead of
Form 5500, Annual Return/Report of
Form 8870, Information Return for
state or local report forms. IRS dollar
Employee Benefit Plan. Is used to
Transfers Associated With Certain
limitations that may not meet some state
report information concerning employee
Personal Benefit Contracts. Used to
requirements are the $5,000 total assets
benefit plans and Direct Filing Entities.
identify those personal benefit contracts
minimum that requires completion of Part
for which funds were transferred to the
Form 8109, Federal Tax Deposit
II, column (c), and Part XV; and the
organization, directly or indirectly, as well
Coupon. Used by business entities to
$50,000 minimum for listing the highest
as the transferors and beneficiaries of
make federal tax deposits.
paid employees and for listing
those contracts.
Form 8282, Donee Information Return.
professional fees in Part VIII.
Form 8899, Notice of Income from
Required of the donee of “charitable
Additional information may be
Donated Intellectual Property. Use
deduction property” that sells, exchanges,
required. State and local filing
this form to report income from qualified
or otherwise disposes of the property
requirements may require attaching to
intellectual property.
within 3 years after the date it received
Form 990-PF one or more of the
the property. Also required of any
Forms 8921 and 8922. These forms are
following:
•
successor donee that disposes of
used by an exempt organization to report
Additional financial statements, such as
charitable deduction property within 3
its direct or indirect acquisition of certain
a complete analysis of functional
years after the date that the donor gave
insurance contracts.
expenses or a statement of changes in
the property to the original donee. (It does
net assets,
•
not matter who gave the property to the
E. Useful Publications
Notes to financial statements,
•
successor donee. It may have been the
Additional financial schedules,
The following publications may be helpful
•
original donee or another successor
A report on the financial statements by
in preparing Form 990-PF:
donee.) For successor donees, the form
•
an independent accountant, and
Publication 525, Taxable and
•
must be filed only for any property that
Answers to additional questions and
Nontaxable Income,
was transferred by the original donee
•
other information.
Publication 583, Starting a Business
after July 5, 1988.
Each jurisdiction may require the
and Keeping Records,
•
Form 8275, Disclosure Statement.
additional material to be presented on
Publication 598, Tax on Unrelated
Taxpayers and tax return preparers
forms they provide. The additional
Business Income of Exempt
should attach this form to Form 990-PF to
information does not have to be submitted
Organizations,
•
disclose items or positions (except those
with the Form 990-PF filed with the IRS.
Publication 910, IRS Guide to Free Tax
contrary to a regulation — see Form
Services,
If required information is not provided
•
8275-R below) that are not otherwise
Publication 1771, Charitable
to a state, the organization may be asked
adequately disclosed on the tax return.
Contributions — Substantiation and
by the state to provide it or to submit an
The disclosure is made to avoid parts of
Disclosure Requirements, and
amended return, even if the Form 990-PF
•
the accuracy-related penalty imposed for
Publication 3833, Disaster Relief,
is accepted by the IRS as complete.
disregard of rules or substantial
Providing Assistance Through Charitable
Amended returns. If the organization
understatement of tax. Form 8275 is also
Organizations.
submits supplemental information or files
used for disclosures relating to preparer
an amended Form 990-PF with the IRS, it
penalties for understatements due to
Publications and forms are available at no
must also include a copy of the
unrealistic positions or for willful or
charge through IRS offices or by calling
information or amended return to any
reckless conduct.
1-800-TAX-FORM (1-800-829-3676).
state with which it filed a copy of Form
Form 8275-R, Regulation Disclosure
990-PF.
F. Use of Form 990-PF To
Statement. Use this form to disclose
Method of accounting. Many states
any item on a tax return for which a
Satisfy State Reporting
require that all amounts be reported
position has been taken that is contrary to
based on the accrual method of
Requirements
Treasury regulations.
accounting.
Form 8300, Report of Cash Payments
Some states and local government units
Time for filing may differ. The time for
Over $10,000 Received in a Trade or
will accept a copy of Form 990-PF and
filing Form 990-PF with the IRS may differ
Business. Used to report cash amounts
required attachments instead of all or part
from the time for filing state reports.
in excess of $10,000 that were received
of their own financial report forms.
in a single transaction (or in two or more
G. Furnishing Copies of
If the organization plans to use Form
related transactions) in the course of a
990-PF to satisfy state or local filing
Form 990-PF to State
trade or business (as defined in section
requirements, such as those from state
162).
Officials
charitable solicitation acts, note the
Form 8822, Change of Address. This
following.
The foundation managers must furnish a
form is used by taxpayers to notify the
Determine state filing requirements.
copy of the annual return Form 990-PF
IRS of changes in individual and business
Consult the appropriate officials of all
(and Form 4720 (if applicable)) to the
mailing addresses.
states and other jurisdictions in which the
attorney general of:
•
Form 8886-T, Disclosure by
organization does business to determine
Each state required to be listed in Part
Tax-Exempt Entity Regarding
their specific filing requirements. “Doing
VII-A, line 8a,
-4-
Form 990-PF Instructions
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