[E-file Error Code F990PF-012-01] How do I resolve it?
56 views | Last modified 4/13/2021 3:31:20 AM EST | Added by ExpressTaxExempt Team

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

IRS Error Code F990PF-012-01

If the domestic foundation meets the section 4940(e) requirements of the Qualification Under Section 4940(e) For Reduced Tax On Investment Income, then the total amount of the Qualification Under Section 4940(e) for Reduced Tax on Net Investment Income must be greater than or equal to the Qualifying Distribution.

What does it mean:

For the foundation that met the requirement of Section 4940(e), the total amount of the Qualification Under Section 4940(e) for Reduced Tax on Investment Income must be greater than or equal to the Qualifying Distribution.

Resolution:

If your private foundation meets the requirement of Section 4940(e), make sure the total amount of the Qualification Under Section 4940(e) for Reduced Tax on Investment Income is greater than or equal to the Qualifying Distribution.

We'll keep you informed on the status of the return once we hear back from the IRS.

For any further assistance, we recommend contacting the IRS e-Help Desk Toll-Free Number 1-866-255-0654.

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