Form 990-T

Form 990-T

A form that a tax exempt organization files with the IRS to report its unrelated business income and to figure the tax owed on that income.
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Careful preparation of Form 990-T and review of UBI practices are crucial steps in preparing for the possibility that the IRS could contact your organization regarding UBI.
Proposals for disclosure of Form 990-T were initially introduced by the staff of the Senate Finance Committee, supported by the Joint Committee on Taxation and passed by the Senate.
The unit will check the consistency of information on an organization's Form 990 with its filings of Form 990-T, the form for unrelated business income reporting.
Section 4 provides guidance for completing each part and line of Form 990 and Schedule A; Section 5 provides detailed instructions for Form 990-T, the unrelated business income tax.
A tax-exempt organization is required to file Form 990-T, Exempt Organization Business Income Tax Return, if it has gross income from an unrelated trade or business of $1000 or more.
Business fliers should attach Form 8913 to their regular 2006 income tax returns; exempt organizations must attach it to Form 990-T, Exempt Organization Business Income Tax Return.
The organization's three most recent annual information returns (forms 990, 990-EZ, 990-BL or form 1065, but not form 990-T or form 1120-POL) including all schedules and attachments filed with the IRS, but not including those parts of the returns that give the names and addresses of contributors.
E-filing is not available for amended returns, final returns or Form 990-T, Exempt Organization Business Income Tax Return.
Form 990-T, Exempt Organization Business Income Tax Return, which is used to report and pay taxes on income from activities that do not qualify for exemption, is not open to public inspection.
The income from these parties is reported as unrelated business income on Form 990-T, Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)).
Organizations required to file other tax returns, such as the Form 990-T, Exempt Organization Business Income Tax Return, would continue to be required to file those forms.
source "unrelated business taxable income" from an effectively connected trade or business, it is also required to file Form 990-T, Exempt Organization Business Income Tax Return; see Secs.