Get the free 2006 Form 990-W (Worksheet). Estimated Tax on Unrelated Business Taxable Income for ...

Form 990-W Income for Tax-Exempt Organizations ... Form 990-PF, O. Figuring and Paying Estimated Tax, for information on figuring the excise tax based on investment.

How to fill out 2006 form 990-w worksheet

How to fill out the 2006 form 990-W worksheet:

1. Calculate the amounts in Part II of the worksheet by following the instructions provided. This section includes calculating the excess benefit transaction, the disqualified person's tax liability, and the aggregated tax liability.
2. Complete Part III of the worksheet by providing information about the organization's disqualified person and the excess benefit transaction. This includes identifying the person involved, describing the transaction, and providing the fair market value.
3. Move on to Part IV of the worksheet and calculate the organization's tax liability. This section requires inputting information such as the organization's taxable income, the excess benefit transaction, and the disqualified person's tax liability.
4. Complete Part V of the worksheet by providing additional information about the organization's tax liabilities, penalties, and interest.
5. Review the completed form for accuracy and ensure all necessary information has been entered correctly.
6. Attach the completed 2006 form 990-W worksheet to the organization's Form 990 or 990-EZ when filing.

Who needs the 2006 form 990-W worksheet:

1. Tax-exempt organizations that have engaged in excess benefit transactions with a disqualified person in the year 2006.
2. Organizations that have been notified by the IRS or have voluntarily discovered an excess benefit transaction and are required to determine and report their tax liability using Form 990-W.
3. Organizations that need to calculate the amount of excise tax due, penalties, and interest related to the excess benefit transactions for the year 2006.

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What is form 990-w worksheet estimated?

Form 990-W is used by tax-exempt organizations to figure their estimated tax liability.

Who is required to file form 990-w worksheet estimated?

Certain tax-exempt organizations are required to file Form 990-W to determine their estimated tax liability.

How to fill out form 990-w worksheet estimated?

Form 990-W must be completed with accurate financial information for the tax-exempt organization to determine their estimated tax liability.

What is the purpose of form 990-w worksheet estimated?

The purpose of Form 990-W is to help tax-exempt organizations calculate their estimated tax liability for the year.

What information must be reported on form 990-w worksheet estimated?

Tax-exempt organizations must report their income, expenses, deductions, and any other relevant financial information on Form 990-W.