What is Form 4720?
Form 4720 is used to report certain excise taxes under Chapter 42 of the Internal Revenue Code. This form is important for organizations like private foundations and charities to disclose any taxes owed on excess benefits or other tax-related issues. Filing this form ensures compliance with tax regulations, helping organizations avoid penalties. It also provides transparency in financial activities, which is crucial for maintaining public trust and fulfilling legal obligations. Understanding and accurately completing this form is essential for responsible financial management.
What is Form 4720 used for?
Form 4720 is used to report specific excise taxes related to certain activities under Chapter 42 of the Internal Revenue Code:
- to report taxes related to excess benefits.
- to disclose and pay tax on prohibited tax shelter transactions.
- to report taxes on certain contributions to organizations.
How to fill out Form 4720?
- 1
Review the instructions for Form 4720.
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Fill in your identifying information in the designated fields.
- 3
Complete each applicable section according to your organization’s excise tax obligations.
- 4
Double-check all entries for accuracy and completeness.
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Sign the form electronically.
- 6
Download the filled form for your records.
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Submit the form by mail to the address specified in the instructions.
Who is required to fill out Form 4720?
Private foundations, public charities with lobbying expenditures, and tax-exempt organizations must file Form 4720. Disqualified persons and hospital organizations needing community health assessments also use it.
When is Form 4720 not required?
Form 4720 isn't needed by organizations not subject to excise taxes under Chapters 41 or 42.
Public charities that haven't made a lobbying expenditure election are also exempt. Additionally, individuals or organizations that aren't classified as disqualified persons, managers, donors, or advisors to applicable tax-exempt entities do not need to file this form. Always check the latest IRS guidelines to confirm your requirements.
When is Form 4720 due?
The deadline for Form 4720 is the 15th day of the 5th month after the organization's accounting period ends. For organizations with a calendar year-end (December 31, 2024), this means the due date is May 15, 2025.
Private foundations must file Form 4720 electronically for tax years beginning after July 1, 2019. Other organizations must submit Form 4720 by the due date for filing Form 990-PF, Form 990, Form 990-EZ, or Form 5227, without including any extensions. Individuals also need to file by the same 15th day of the 5th month after their taxable year ends.
How to get a blank Form 4720?
To get a blank Form 4720, which is issued by the IRS for reporting certain excise taxes, simply visit our website. We have a pre-loaded version of the form in our editor, ready for you to fill out and download.
How to sign Form 4720 online?
To sign Form 4720 using PDF Guru, first, fill out the form in the PDF editor. After completing all necessary fields, look for the option to create a simple electronic signature. This feature allows you to sign the document directly within the platform.
Once your signature is added, click "Done" to download the completed form. Make sure to consult official sources for specific signature requirements related to Form 4720 to ensure compliance.
Where to file Form 4720?
Form 4720 must be submitted to the Internal Revenue Service (IRS).
Submission methods: mail, online or in-person.
