Is a charitable trust require to pay the excise tax?
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Last modified 12/27/2023 12:49:46 AM EST |
Applicable To
990-PF
990-N
990-EZ
990
8868
1120-POL
A charitable trust is a type of trust that a small group of people runs to serve the community.
According to the IRS, a charitable trust is treated as a private foundation. Therefore, it is considered tax-exempt unless it meets the requirements for one of the exclusions that classify it as a public charity, i.e., an excise tax will be imposed on a charitable trust if it detracts and fails to provide services for further charitable purposes.