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Show Estimated taxes and exempt organizations o as corporations do. Estimated tax payments generally must be made four times a year. Income tax payments and estimated esti-mated tax payments are deposited with a Federal Tax Deposit Coupon (Form 8109), at an authorized autho-rized financial institution or Feder al Reserve Bank. You may order the FTD Coupons by calling the IRS toll-free number, 1-800-424-1040. These rules also apply to private foundations that owe a federal excise ex-cise tax on net investment income. Tax-exempt corporations may use Form 1120-W, "Corporation Estimated Tax," to figure their estimated tax. Tax-exempt trusts should use Form 990-W (Worksheet), (Work-sheet), "Estimated Tax on Unrelated Unre-lated Business Taxable Income for Tax-Exempt Trusts." These forms are available. 1-800-424-3676. Tax-exempt organizations that pay federal tax on unrelated business busi-ness income now generally must make estimated tax payments, according to the Internal Revenue Service. Unrelated business income is income in-come from a trade or business that a tax-exempt organization operates oper-ates that has little or no relationship relation-ship to the organization's exempt purpose. That income is subject to federal tax. For example, if a tax-exempt university leases its football stadium sta-dium for several months each year to a professional football team for a fee and provides substantial services ser-vices such as grounds maintenance, mainte-nance, the leasing of the stadium would be an unrelated trade or business. Previously, tax exempt organizations organi-zations that owed a tax on unrelated unre-lated business income paid the tax on the due date of the tax return. The Tax Reform Act of 1 986 provides pro-vides that these organizations must make estimated tax payments, just |
