Form 990-T

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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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When federal credit unions filed Forms 990-T to claim health insurance premium tax credits, in some cases the filings prompted an automated search for past Forms 990, which were not required.
6104(d)(1)(A) (ii), Sec 501(c)(3) organizations now have to disclose publicly their Forms 990-T, Exmpt Organization Business Income Tax Return.
The new disclosure provisions are contained in the Pension Protection Act of 2006, Section 1225, and are effective for Forms 990-T filed after Aug.
The 36,064 Forms 990-T filed to report "unrelated business income" (UBI) for 2003 slightly exceeded the number filed for each of Tax Years 2001 and 2002, but remained below the number filed for any tax year between 1995 and 2000.
Figure A contains these and other statistics for selected major financial data items reported on Forms 990-T for Tax Years 2002 and 2003.
The number of tax-exempt organizations filing Forms 990-T, Exempt Organization Business Income Tax Returns, decreased only slightly between Tax Years 2001 and 2002, from 35,540 to 35,103.
Gross UBI reported on Forms 990-T, which was an aggregate $7.8 billion for 2002, grew by 11 percent between 1998 and 2000, but then declined by 8 percent from 2000 to 2002, resulting in an overall 2.5 percent growth from 1998 to 2002.
6104(d)-3(b)(4)(ii), Forms 990-T, Exempt Organization Business Income Tax Return, 1120-POL, U.S.
The associated required due dates for filing Tax Year 2000 Forms 990-T generally spanned May 2001 to April 2002, but extensions of time to file beyond this period routinely were granted to many organizations.
Many other types of nonprofit charitable organizations file Forms 990-T as well, and include, predominantly, organizations with activities related to the environment; animals; mental health; housing and shelter; recreation and sports; scientific and technological research; and religion.
Taxable profits from "unrelated business income" reported by 39,302 nonprofit organizations on Forms 990-T, Exempt Organization Business Income Tax Returns, rose 18 percent between Tax Years 1996 and 1997, amounting to $1.4 billion for 1997.
IRA trusts that reported $10,000 or less of gross UBI made up 92 percent of all IRA trusts filing Forms 990-T for 1997; for 1996, the proportion was 94 percent.