Form 990W Schedule A (Part III)

Form 990-W (WORKSHEET) 2009

Page

Part III—Required Installments

36

(a)
1st
installment

If only one of the above parts was completed, enter the
amounts in each column from line 13 or line 35. (If both parts
were completed, enter the smaller of the amounts in each
column from line 13 or line 35.)

36

Divide line 10c, page 1 of Form 990-W, by 4 and enter the
result in each column. Note. Large organizations, see
instructions for line 12 on page 6 for the amount to enter.

37

Subtract line 40 of the preceding column from line 39 of the
preceding column and enter here.

38

39

Add lines 37 and 38.

39

40

Required installments. Enter the smaller of line 36 or line
39 here and on Form 990-W, line 12, page 1.

40

37

38

General Instructions
Section references are to the Internal Revenue Code unless
otherwise noted.

What’s New
If a corporation has both a net capital gain and a qualified
timber gain, a maximum 15% capital gain tax rate may apply
to the qualified timber gain. See the instructions for Line
2-Corporations for more information.

Who Must Make Estimated Tax Payments
Tax-exempt corporations, tax-exempt trusts, and domestic
private foundations must make estimated tax payments if the
total expected tax for the tax year (line 10a) is $500 or more.
Use Form 990-W to figure the organization’s estimated tax
liability for 2009.

When To Make Estimated Tax Payments for 2009
For a calendar or fiscal year organization, the payments are
due by the 15th day of the 4th (the 5th month for private
foundations), 6th, 9th, and 12th months of the tax year. For a
calendar year organization, the payments are due by April 15,
June 15, September 15, and December 15, 2009, except that
for a calendar year private foundation, the first payment is
due on May 15.

Underpayment of Estimated Tax
An organization that does not pay the estimated tax when
due may be charged an underpayment penalty under section
6655, at a rate determined under section 6621(a)(2).

Overpayment of Estimated Tax
A corporation that has overpaid its estimated tax may apply
for a “quick refund” if the overpayment is at least 10% of its
expected income tax liability for the year and is at least $500.
To apply, file Form 4466, Corporation Application for Quick
Refund of Overpayment of Estimated Tax, after the end of
the tax year and before the corporation files its income tax
return. Form 4466 may not be filed after the 15th day of the
3rd month after the end of the tax year.

Depository Method of Tax Payment
See Electronic deposit requirement below to determine if
your organization must electronically deposit all depository
taxes, including the unrelated business income tax and
estimated tax payments. Also, see this section if your
organization wants to participate voluntarily. If your
organization is not required to electronically deposit taxes or
does not wish to voluntarily participate, see Form 8109,
Federal Tax Deposit Coupon Book.

(b)
2nd
installment

(c)
3rd
installment

4

(d)
4th
installment

Electronic deposit requirement. The organization must
make electronic deposits of all depository taxes (such as
employment tax, excise tax, and unrelated business income
tax) using the Electronic Federal Tax Payment System
(EFTPS) in 2009 if:
● The total deposits of such taxes in 2007 were more than
$200,000 or
● The organization was required to use EFTPS in 2008.
If the organization is required to use EFTPS and fails to do
so, it may be subject to a 10% penalty. If the organization is
not required to use EFTPS, it may voluntarily participate. To
enroll in or get more information about EFTPS, call
1-800-555-4477. To enroll online, visit www.eftps.gov.
Depositing on time. For deposits made by EFTPS to be on
time, the organization must initiate the transaction at least 1
business day before the date the deposit is due.
Form 8109, Federal Tax Deposit Coupon. If the
organization does not use EFTPS, deposit unrelated business
income tax payments and estimated tax payments with Form
8109. If you do not have a preprinted Form 8109, use Form
8109-B to make deposits. You can get the form only by
calling 1-800-829-4933. Be sure to have your employer
identification number (EIN) ready when you call.
Do not send deposits directly to an IRS office; otherwise,
the organization may have to pay a penalty. Mail or deliver
the completed Form 8109 with the payment to an authorized
depositary, that is, a commercial bank or other financial
institution authorized to accept federal tax deposits.
Make checks or money orders payable to the depositary.
To help ensure proper crediting, write the organization’s
employer identification number, the tax period to which the
deposit applies, and Form 990-T (or 990-PF) on the check or
money order. Darken the 990-T (or 990-PF) box on the
coupon. Records of these deposits will be sent to the IRS.
For more information on deposits, see the instructions in
the coupon booklet (Form 8109) and Pub. 583, Starting a
Business and Keeping Records.

Refiguring Estimated Tax
If, after the organization figures and deposits estimated tax, it
finds that its tax liability for the year will be more or less than
originally estimated, it may have to refigure its required
installments. If earlier installments were underpaid, the
organization may owe a penalty for underpayment of
estimated tax.