IRS Form 990-T Schedule M Unrelated Business Taxable Income for Unrelated Trade or Business

What Is IRS Form 990-T Schedule M?

This is a tax form that was released by the Internal Revenue Service (IRS) - a subdivision of the U.S. Department of the Treasury. The document is a supplement to IRS Form 990-T, Exempt Organization Business Income Tax Return (And Proxy Tax Under Section 6033(E)). As of today, no separate filing guidelines for the form are provided by the IRS.

FAQ

Q: What is IRS Form 990-T Schedule M?
A: IRS Form 990-T Schedule M is a tax form used to report unrelated business taxable income (UBTI) for unrelated trade or business.

Q: Who needs to file IRS Form 990-T Schedule M?
A: Non-profit organizations that have unrelated trade or business income and exceed the UBTI threshold need to file IRS Form 990-T Schedule M.

Q: What is unrelated business taxable income (UBTI)?
A: Unrelated business taxable income (UBTI) is income generated by a tax-exempt organization through a trade or business activity not related to its exempt purpose.

Q: What is unrelated trade or business?
A: Unrelated trade or business refers to any trade or business activity that is not substantially related to the tax-exempt organization's purpose or mission.

Q: What information is required on IRS Form 990-T Schedule M?
A: IRS Form 990-T Schedule M requires information such as the organization's name, address, identification number, a description of the unrelated trade or business activity, and the calculation of unrelated business taxable income.

Q: When is IRS Form 990-T Schedule M due?
A: IRS Form 990-T Schedule M is typically due on the 15th day of the 5th month after the end of the organization's tax year.

Q: Are there any penalties for not filing IRS Form 990-T Schedule M?
A: Yes, there can be penalties for not filing or late filing of IRS Form 990-T Schedule M. It is important to comply with the filing requirements to avoid penalties.