2022 Form 990-T. Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e))-2025

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2022 Form 990-T. Exempt Organization Business Income Tax Return (and proxy tax under section 6033(e)) Preview on Page 1

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  1. Click ‘Get Form’ to open it in the editor.
  2. Begin by entering your organization’s name and employer identification number (EIN) in the designated fields. Ensure accuracy as this information is crucial for IRS processing.
  3. In Part I, calculate your total unrelated business taxable income by summing all relevant income sources. Use our platform's calculation tools to assist with this process.
  4. Proceed to Part II for tax computation. Multiply the amount from Part I, line 11 by the applicable tax rate (21% for corporations). Our editor allows you to input formulas directly for automatic calculations.
  5. Complete Part III by detailing any credits and payments made. This includes foreign tax credits and estimated tax payments, ensuring you attach necessary forms as indicated.
  6. Finally, review all entries for accuracy before signing and submitting your form electronically through our platform, which simplifies the submission process.

Start using our platform today to efficiently complete your Form 990-T online for free!

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Exempt organizations use Form 990-T to: Report unrelated business income. Figure and report unrelated business income tax liability. Report proxy tax liability.
Unlike Form 990 (link to B6) which is NOT used to calculate taxes owed by the organization, IRS Form 990-T is a separate tax form that must be filed by tax-exempt organizations that have certain types of unrelated business income and is used to calculate and report tax owed.
Nonprofits with annual revenue of $500,000 or more must file the Form 990. Nonprofits with revenue of any size that have unrelated business income will need to file Form 990-T as part of the nonprofits annual return filing.
Exempt organizations use Form 990-T to: Report unrelated business income. Figure and report unrelated business income tax liability. Report proxy tax liability. Claim a refund of income tax paid by a regulated investment company (RIC) or a real estate investment trust (REIT) on undistributed long-term capital gain.
Form 990-T, Exempt Organization Business Income Tax Return, for tax years ending December 2020 and later with a due date on or after April 15, 2021, MUST be filed electronically and not on paper.

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Report unrelated business income (including additions to unrelated business taxable income under section 512(a)(7). Figure and report unrelated business income tax liability. Report proxy tax liability.
Form 990-EZ, Short Form Return of Organization Exempt From Income Tax can be filed by organizations whose gross receipts are less than $200,000 and total assets are less than $500,000 at the end of the tax year. An organization eligible to file a 990-EZ may file a 990 if it wishes.
In a nutshell, the form gives the IRS an overview of the organizations activities, governance and detailed financial information. Form 990 also includes a section for the organization to outline its accomplishments in the previous year to justify maintaining its tax-exempt status.

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