Form 990-W (Worksheet) - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2012 Page 4
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74
Form 990-W (Worksheet) 2012
Page
Part III—Required Installments
(a)
(b)
(c)
(d)
1st
2nd
3rd
4th
installment
installment
installment
installment
36
If only one of the above 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
column from line 13 or line 35.)
36
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
Add lines 37 and 38.
39
39
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
What's New
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 large corporations, special rules apply for estimated tax payments that
enroll in EFTPS, visit or call 1-800-555-4477. Additional
are required to be made for the period that includes July, August, or
information about EFTPS is available in Publication 966, The Secure Way to
September of 2012, and the period that immediately follows these months.
Pay Your Federal Taxes.
See the instructions for line 12.
Deposits on business days only. If a deposit is required to be made on a
The IRS has created a page on IRS.gov that includes information about
day that is not a business day, the deposit is considered timely if it is made
Form 990-W and its instructions, at Information
by the close of the next business day. A business day is any day other than a
about any recent development affecting Form 990-W (such as legislation
Saturday, Sunday, or legal holiday. For example, if a deposit is required to be
enacted after we released it) will be posted on that page.
made on a Friday and Friday is a legal holiday, the deposit will be considered
timely if it is made by the following Monday (if that Monday is a business
General Instructions
day). The term “legal holiday” means any legal holiday in the District of
Columbia.
Phone Help
Refiguring Estimated Tax
If you have questions and/or need help completing this form, please call
1-877-829-5500. This toll-free telephone service is available Monday through
If, after the organization figures and deposits estimated tax, it finds that its
Friday.
tax liability for the year will be more or less than originally estimated, it may
have to refigure its required installments. If earlier installments were
Who Must Make Estimated Tax Payments
underpaid, the organization may owe a penalty for underpayment of
estimated tax.
Tax-exempt corporations, tax-exempt trusts, and domestic private
foundations must make estimated tax payments if the total estimated tax for
An immediate “catch-up” payment should be made to reduce the amount
the tax year (Form 990-W, line 10a) is $500 or more. Use Form 990-W
of any penalty resulting from the underpayment of any earlier installments,
(Worksheet) to figure the organization’s estimated tax liability for 2012.
whether caused by a change in estimate, failure to make a deposit, or a
mistake.
When To Make Estimated Tax Payments for 2012
Specific Instructions
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
months of the tax year. For a calendar year organization, the payments are
Form 990-W (Worksheet)
due by April 17, June 15, September 17, and December 17, 2012, except
Private foundations. Private foundations required to make estimated tax
that for a calendar year private foundation, the first payment is due on May
payments for both the excise tax on net investment income and the
15.
unrelated business income tax must use a separate worksheet Form 990-W
Underpayment of Estimated Tax
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
An organization that does not pay the estimated tax when due may be
worksheet. For information on figuring the excise tax on net investment
charged an underpayment penalty under section 6655, at a rate determined
income, see General Instruction O. Figuring and Paying Estimated Tax, in the
under section 6621(a)(2).
Instructions for Form 990-PF.
Overpayment of Estimated Tax
All organizations. See Form 990-T, Exempt Organization Business Income
Tax Return, and its instructions for information on figuring unrelated business
A corporation that has overpaid its estimated tax may apply for a “quick
income, deductions, and credits for purposes of completing Form 990-W.
refund” if the overpayment is at least 10% of its estimated income tax liability
Proxy tax. For purposes of Form 990-W, the estimated tax does not include
for the year and is at least $500. To apply, file Form 4466, Corporation
the proxy tax imposed by section 6033(e).
Application for Quick Refund of Overpayment of Estimated Tax, after the end
of the tax year and before the corporation files its income tax return. Form
Line 2—Corporations
4466 may not be filed after the 15th day of the 3rd month after the end of
Generally, a corporation figures its tax on the amount on Form 990-W, line 1,
the tax year.
using the 2012 Tax Computation for Corporations worksheet shown below
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 2012 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). Forms 8109 and
share of the $50,000 amount as determined by the apportionment plan
8109-B, Federal Tax Deposit Coupon, are no longer in use. Generally,
adopted by the controlled group. On line 4, each member must enter the
electronic fund transfers are made using the Electronic Federal Tax Payment
smaller of the amount on line 3 or its share of the $25,000 amount. On line 6,
System (EFTPS). If you do not want to use EFTPS, you can arrange for your
each member must enter the smaller of the amount on line 5 or its share of
tax professional, financial institution, payroll service, or other trusted third
the $9,925,000 amount.
party to make deposits on your behalf. Also, you may arrange for your
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