Form 990-W - Estimated Tax On Unrelated Business Taxable Income For Tax-Exempt Organizations - 2015 Page 4
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74
Form 990-W (Worksheet) 2015
Page
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
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.
other third party may have a fee. To get more information about EFTPS or to
enroll in EFTPS, visit or call 1-800-555-4477. Additional
Future Developments
information about EFTPS is available in Publication 966, The Secure Way to
Pay Your Federal Taxes.
For the latest information about developments related to Form 990-W and its
Deposits on business days only. If a deposit is required to be made on a
instructions, such as legislation enacted after they were published, go to
day that is not a business day, the deposit is considered timely if it is made
by the close of the next business day. A business day is any day other than a
General Instructions
Saturday, Sunday, or legal holiday. For example, if a deposit is required to be
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
Phone Help
day). The term “legal holiday” means any legal holiday in the District of
If you have questions and/or need help completing this form, please call
Columbia.
1-877-829-5500. This toll-free telephone service is available Monday through
Refiguring Estimated Tax
Friday.
If, after the organization figures and deposits estimated tax, it finds that its
Who Must Make Estimated Tax Payments
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
Tax-exempt corporations, tax-exempt trusts, and domestic private
underpaid, the organization may owe a penalty for underpayment of
foundations must make estimated tax payments if the total estimated tax for
the tax year (Form 990-W, line 10a) is $500 or more. Use Form 990-W
estimated tax.
(Worksheet) to figure the organization’s estimated tax liability for 2015.
An immediate “catch-up” payment should be made to reduce the amount
of any penalty resulting from the underpayment of any earlier installments,
When To Make Estimated Tax Payments for 2015
whether caused by a change in estimate, failure to make a deposit, or a
mistake.
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
Specific Instructions
months of the tax year. For a calendar year organization, the payments are
due by April 15, June 15, September 15, and December 15, 2015, except
that for a calendar year private foundation, the first payment is due on May
Form 990-W (Worksheet)
15.
Private foundations. Private foundations required to make estimated tax
Underpayment of Estimated Tax
payments for both the excise tax on net investment income and the
unrelated business income tax must use a separate worksheet Form 990-W
An organization that does not pay the estimated tax when due may be
for each tax. Private foundations figuring the estimated tax payment for the
charged an underpayment penalty under section 6655, at a rate determined
excise tax on net investment income should skip lines 1 through 9 of this
under section 6621(a)(2).
worksheet. For information on figuring the excise tax on net investment
income, see O. Figuring and Paying Estimated Tax under General
Overpayment of Estimated Tax
Instructions, in the Instructions for Form 990-PF.
A corporation that has overpaid its estimated tax may apply for a “quick
All organizations. See Form 990-T, Exempt Organization Business Income
refund” if the overpayment is at least 10% of its estimated income tax liability
Tax Return, and its instructions for information on figuring unrelated business
for the year and is at least $500. To apply, file Form 4466, Corporation
income, deductions, and credits for purposes of completing Form 990-W.
Application for Quick Refund of Overpayment of Estimated Tax, after the end
Proxy tax. For purposes of Form 990-W, the estimated tax does not include
of the tax year and before the corporation files its income tax return. Form
the proxy tax imposed by section 6033(e).
4466 may not be filed after the 15th day of the 3rd month after the end of the
tax year.
Line 2—Corporations
Federal Tax Deposits Must be Made by Electronic
Generally, a corporation figures its tax on the amount on Form 990-W, line 1,
using the 2015 Tax Computation for Corporations worksheet shown later
Funds Transfer
(members of a controlled group should see the instructions below).
You must use electronic funds transfer to make all federal deposits (such as
Members of a controlled group. On the 2015 Tax Computation for
deposits of estimated tax, employment tax, and excise tax). Generally,
Corporations worksheet, line 2, each member of the controlled group, as
electronic fund transfers are made using the Electronic Federal Tax Payment
defined in section 1563, must enter the smaller of the amount on line 1 or its
System (EFTPS). If you do not want to use EFTPS, you can arrange for your
share of the $50,000 amount as determined by the apportionment plan
tax professional, financial institution, payroll service, or other trusted third
adopted by the controlled group. On line 4, each member must enter the
party to make deposits on your behalf. Also, you may arrange for your
smaller of the amount on line 3 or its share of the $25,000 amount. On line 6,
financial institution to initiate a same-day wire payment on your behalf.
each member must enter the smaller of the amount on line 5 or its share of
EFTPS is a free service provided by the Department of Treasury. Services
the $9,925,000 amount.
provided by your tax professional, financial institution, payroll service, or
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