What is a prohibited tax shelter transaction in Form 990?
3.5k views | Last modified 6/5/2020 4:55:25 AM EST | Added by ExpressTaxExempt Team

Applicable To
990-PF 990-N 990-EZ 990 8868 1120-POL

A transaction is considered as a prohibited tax shelter transaction if it is:

Listed Transactions: A transaction in which all the taxes are avoided is called as a listed transaction. 

Confidential Transactions: A transaction that is made to your organization or any other related organizations in terms of confidentiality is called a confidential transaction. 

Transactions With Contractual Protection: A transaction under which your organization or any other related organization has the right for a full or a partial refund of the fees if the terms of the transaction are not sustained is called a transaction with contractual protection. 

Organizations that file Form 990, except Section 527 political organizations are required to file Form 8868-T if the organization is a party to prohibited tax shelter transactions.

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