Form 990-PF for Private Foundations An Detailed Guide
What is Form 990-PF? ● The private foundation should file their Form 990-PF report their annual revenue and costs, activities, trustees and officials' names, application information, and a comprehensive grants list for the respective Tax year. ● It is also used to calculate the tax on investment income and to record charity donations and activities. support@tax990. com 704.839.2 321
Who must file Form 990-PF? ● Exempt Private foundations ● Private foundations that are taxable ● Private foundation organisations that have not yet applied for exempt status ● Private foundations that are terminating under Section 507(b). ● Charitable trusts that are not exempt are classified as private foundations. support@tax990. com 704.839.2 321
Generally, Form 990-PF are due on 15th day of 5th month after the respective accounting period ends.
If the Private Foundation follows calendar tax period (January 1stDecember 31, 2022), then the 990-PF is due by May 15, 2023. Note: For instance the due date falls on a Saturday, Sunday, or any legal holiday, file the form on the next business day.
Due Date for Form 990-PF
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Information Required to file Form 990-PF: To file form 990-PF, private foundations must require the following informations. ● Name of the foundation, Employer Identification Number (EIN), address & Telephone number ● Received contributions, donations, grants, and so on ● Pay for the Officers, directors, and trustees ● Deferred charges and prepaid expenditures ● Other income tax on investment income, Meetings, conferences, and travel support@tax990. com 704.839.2 321
Additional Requirements for Form 990-PF The Private Foundation must submit Schedule B if it meets the conditions. If you received $5,000 or more in cash, securities, or other property from any one individual during the tax year, you must file Schedule B together with 990-PF and attach it to your return to the IRS. support@tax990. com 704.839.2 321
Choose Tax990 to E-File Form 990 PF Tax990 is a IRS authorised E-File provider, simple procedure for filing used by thousands of user. ● Support 990-PF schedule ● Internal Audit Check ● Bulk upload templates to import data ● Retransmit Rejected Return or Free ● Live customer Support support@tax990. com 704.839.2 321
Steps to file Form 990-PF with Tax990 To E-File Form 990-PF, follow the below steps ● Step 1: Enter Your EIN (Employer Identification Number) ● Step 2: Add Organization Details ● Step 3: Choose Tax Year ● Step 4: Enter The Form Data ● Step 5: Review & Transmit To IRS Visit https://www.tax990.com/e-file-form-990-pf/ to know more.
Contact Us If you have more queries, get in touch with our dedicated Tax 990 support team. ● Phone: (704) 839-2321 ● Email: support@Tax990.com support@tax990. com 704.839.2 321