What are the types of foundations that must pay estimated tax?
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Last modified 9/30/2020 4:05:30 AM EST |
Added by ExpressTaxExempt Team
Domestic private foundations that are described under section 511 and section 4940 are subjected to estimated taxes if the total estimated tax for a tax year equals or exceeds $500.
The foundation can either use the depository method of tax payment or the special option for small foundations to pay the estimated tax amount by the 15th day of the 5th month after the end of its tax year.