Public Inspection of Form 990-T
Nonprofit organizations that file unrelated business income tax returns (Form 990-T) must make them available for public inspection and copying, according to interim guidance from the IRS.
The public inspection only applies to organizations exempt under the IRC Sec. 501(c)(3) and affects returns filed after August 17, 2006. The new requirement is a result of the Pension Protection Act of 2006.
Exceptions:
- Entities exempt under other sections of IRC 501(c) are not required to disclose their return.
- If a 2006 Form 990-T was filed only to claim a refund of telephone excise tax, the return is not required to be made available for public inspection.
- State colleges and universities exempt under IRC Sec. 115 are not required to make Form 990-T open to public inspection unless the exemption was also received under 501(c)(3).
For further information, contact us.
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