Form 990W Schedule A (Part III)

Page 4

Form 990-W (Worksheet) 2012

Part III—Required Installments

36

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.)

37

Divide the amount on Form 990-W, line 10c, by 4.0 and
enter the result in each column. Note. Large organizations,
see instructions for line 12 for the amount to enter.
Subtract line 40 of the preceding column from line 39 of the
preceding column and enter here.

38

39
40

Add lines 37 and 38.
Required installments. Enter the smaller of line 36 or line
39 here and on Form 990-W, line 12.

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

What's New
For large corporations, special rules apply for estimated tax payments that
are required to be made for the period that includes July, August, or
September of 2012, and the period that immediately follows these months.
See the instructions for line 12.
The IRS has created a page on IRS.gov that includes information about
Form 990-W and its instructions, at www.irs.gov/form990-W. Information
about any recent development affecting Form 990-W (such as legislation
enacted after we released it) will be posted on that page.

General Instructions
Phone Help
If you have questions and/or need help completing this form, please call
1-877-829-5500. This toll-free telephone service is available Monday through
Friday.

Who Must Make Estimated Tax Payments
Tax-exempt corporations, tax-exempt trusts, and domestic private
foundations must make estimated tax payments if the total estimated tax for
the tax year (Form 990-W, line 10a) is $500 or more. Use Form 990-W
(Worksheet) to figure the organization’s estimated tax liability for 2012.

When To Make Estimated Tax Payments for 2012
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 17, June 15, September 17, and December 17, 2012, 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 estimated 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.

Federal Tax Deposits Must be Made by Electronic
Funds Transfer
You must use electronic funds transfer to make all federal deposits (such as
deposits of estimated tax, employment tax, and excise tax). Forms 8109 and
8109-B, Federal Tax Deposit Coupon, are no longer in use. Generally,
electronic fund transfers are made using the Electronic Federal Tax Payment
System (EFTPS). If you do not want to use EFTPS, you can arrange for your
tax professional, financial institution, payroll service, or other trusted third
party to make deposits on your behalf. Also, you may arrange for your

(a)
1st
installment

(b)
2nd
installment

(c)
3rd
installment

(d)
4th
installment

36

37
38
39
40
financial institution to initiate a same-day wire payment on your behalf.
EFTPS is a free service provided by the Department of Treasury. Services
provided by your tax professional, financial institution, payroll service, or
other third party may have a fee. To get more information about EFTPS or to
enroll in EFTPS, visit www.eftps.gov or call 1-800-555-4477. Additional
information about EFTPS is available in Publication 966, The Secure Way to
Pay Your Federal Taxes.
Deposits on business days only. If a deposit is required to be made on a
day that is not a business day, the deposit is considered timely if it is made
by the close of the next business day. A business day is any day other than a
Saturday, Sunday, or legal holiday. For example, if a deposit is required to be
made on a Friday and Friday is a legal holiday, the deposit will be considered
timely if it is made by the following Monday (if that Monday is a business
day). The term “legal holiday” means any legal holiday in the District of
Columbia.

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.
An immediate “catch-up” payment should be made to reduce the amount
of any penalty resulting from the underpayment of any earlier installments,
whether caused by a change in estimate, failure to make a deposit, or a
mistake.

Specific Instructions
Form 990-W (Worksheet)
Private foundations. Private foundations required to make estimated tax
payments for both the excise tax on net investment income and the
unrelated business income tax must use a separate worksheet Form 990-W
for each tax. Private foundations figuring the estimated tax payment for the
excise tax on net investment income should skip lines 1 through 9 of this
worksheet. For information on figuring the excise tax on net investment
income, see General Instruction O. Figuring and Paying Estimated Tax, in the
Instructions for Form 990-PF.
All organizations. See Form 990-T, Exempt Organization Business Income
Tax Return, and its instructions for information on figuring unrelated business
income, deductions, and credits for purposes of completing Form 990-W.
Proxy tax. For purposes of Form 990-W, the estimated tax does not include
the proxy tax imposed by section 6033(e).

Line 2—Corporations
Generally, a corporation figures its tax on the amount on Form 990-W, line 1,
using the 2012 Tax Computation for Corporations worksheet shown below
(members of a controlled group should see the instructions below).
Members of a controlled group. On the 2012 Tax Computation for
Corporations worksheet, line 2, each member of the controlled group, as
defined in section 1563, must enter the smaller of the amount on line 1 or its
share of the $50,000 amount as determined by the apportionment plan
adopted by the controlled group. On line 4, each member must enter the
smaller of the amount on line 3 or its share of the $25,000 amount. On line 6,
each member must enter the smaller of the amount on line 5 or its share of
the $9,925,000 amount.