Form 990-W - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2017 Page 4
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Form 990-W (Worksheet) 2017
Part III—Required Installments
(a)
(b)
(c)
(d)
1st
2nd
3rd
4th
installment
installment
installment
installment
36
If only one of the earlier parts was completed, enter the
amounts in each column from line 13 or line 35. If both parts
were completed, enter the smaller of the amounts in each
36
column from line 13 or line 35.
37
Divide the amount on Form 990-W, line 10c, by 4.0 and
enter the result in each column. Note: Large organizations,
see instructions for line 12 for the amount to enter.
37
38
Subtract line 40 of the preceding column from line 39 of the
preceding column and enter here.
38
39
39
Add lines 37 and 38.
40
Required installments. Enter the smaller of line 36 or line
39 here and on Form 990-W, line 12.
40
Section references are to the Internal Revenue Code unless otherwise noted.
financial institution to initiate a same-day wire payment on your behalf.
EFTPS is a free service provided by the Department of Treasury. Services
Future Developments
provided by your tax professional, financial institution, payroll service, or
other third party may have a fee. To get more information about EFTPS or to
For the latest information about developments related to Form 990-W and its
enroll in EFTPS, visit or call 1-800-555-4477. Additional
instructions, such as legislation enacted after they were published, go to
information about EFTPS is available in Pub. 966, Electronic Federal Tax
Payment System A Guide to Getting Started.
What’s New?
Deposits on business days only. If a deposit is required to be made on a
day that is not a business day, the deposit is considered timely if it is made
Per section 4 of P.L. 112-163, for organizations with assets of $1 billion or
by the close of the next business day. A business day is any day other than a
more, the amount of any required installment (line 12) of estimated tax
Saturday, Sunday, or legal holiday. For example, if a deposit is required to be
otherwise due in July, August, or September of 2017 must be increased by
made on a Friday and Friday is a legal holiday, the deposit will be considered
0.25% (0.0025). The amount of the next required installment is reduced by
timely if it is made by the following Monday (if that Monday is a business
the amount of the increase.
day). The term “legal holiday” means any legal holiday in the District of
Columbia.
General Instructions
Refiguring Estimated Tax
Phone Help
If, after the organization figures and deposits estimated tax, it finds that its
If you have questions and/or need help completing this form, please call
tax liability for the year will be more or less than originally estimated, it may
1-877-829-5500. This toll-free telephone service is available Monday through
have to refigure its required installments. If earlier installments were
underpaid, the organization may owe a penalty for underpayment of
Friday.
estimated tax.
Who Must Make Estimated Tax Payments
An immediate “catch-up” payment should be made to reduce the amount
of any penalty resulting from the underpayment of any earlier installments,
Tax-exempt corporations, tax-exempt trusts, and domestic private
whether caused by a change in estimate, failure to make a deposit, or a
foundations must make estimated tax payments if the total estimated tax for
mistake.
the tax year (Form 990-W, line 10a) is $500 or more. Use Form 990-W
(Worksheet) to figure the organization’s estimated tax liability for 2017.
Specific Instructions
When To Make Estimated Tax Payments for 2017
Form 990-W (Worksheet)
For a calendar or fiscal year organization, the payments are due by the 15th
day of the 4th (the 5th month for private foundations), 6th, 9th, and 12th
Private foundations. Private foundations required to make estimated tax
months of the tax year. For a calendar year organization, the payments are due
payments for both the excise tax on net investment income and the
by April 17, June 15, September 15, and December 15, 2017, except that for a
unrelated business income tax must use a separate worksheet Form 990-W
calendar year private foundation, the first payment is due on May 15.
for each tax. Private foundations figuring the estimated tax payment for the
excise tax on net investment income should skip lines 1 through 9 of this
Underpayment of Estimated Tax
worksheet. For information on figuring the excise tax on net investment
An organization that does not pay the estimated tax when due may be
income, see O. Figuring and Paying Estimated Tax under General
charged an underpayment penalty under section 6655, at a rate determined
Instructions, in the Instructions for Form 990-PF.
under section 6621(a)(2).
All organizations. See Form 990-T, Exempt Organization Business Income
Tax Return, and its instructions for information on figuring unrelated business
Overpayment of Estimated Tax
income, deductions, and credits for purposes of completing Form 990-W.
A corporation that has overpaid its estimated tax may apply for a “quick
Proxy tax. For purposes of Form 990-W, the estimated tax does not include
refund” if the overpayment is at least 10% of its estimated income tax liability
the proxy tax imposed by section 6033(e).
for the year and is at least $500. To apply, file Form 4466, Corporation
Application for Quick Refund of Overpayment of Estimated Tax, after the end
Line 2—Corporations
of the tax year and before the corporation files its income tax return. For
Generally, a corporation figures its tax on the amount on Form 990-W, line 1,
more information, see the Instructions for Form 4466.
using the 2017 Tax Computation for Corporations worksheet shown later
Federal Tax Deposits Must be Made by Electronic
(members of a controlled group should see the instructions below).
Funds Transfer
Members of a controlled group. On the 2017 Tax Computation for
Corporations worksheet, line 2, each member of the controlled group, as
You must use electronic funds transfer to make all federal deposits (such as
defined in section 1563, must enter the smaller of the amount on line 1 or its
deposits of estimated tax, employment tax, and excise tax). Generally,
share of the $50,000 amount as determined by the apportionment plan
electronic fund transfers are made using the Electronic Federal Tax Payment
adopted by the controlled group. On line 4, each member must enter the
System (EFTPS). If you do not want to use EFTPS, you can arrange for your
smaller of the amount on line 3 or its share of the $25,000 amount. On line 6,
tax professional, financial institution, payroll service, or other trusted third
each member must enter the smaller of the amount on line 5 or its share of
party to make deposits on your behalf. Also, you may arrange for your
the $9,925,000 amount.
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