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Old 02-27-2012, 05:27 PM
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Cool Dissolved Foundation and Taxes

If a foundation has been dissolved in 2012 with no activity to the account do you still have to file the 990 F tax form and if so when



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Old 02-28-2012, 09:35 AM
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“If a foundation has been dissolved in 2012 with no activity to the account do you still have to file the 990 F tax form and if so when”----> For the short tax year, 2012, in which your foundation is fully liquidated, dissolved, or terminated, you must file a final Form 990-PF. You should check the Final Return box in the header area on page 1 of the return, answer yes to the question whether the foundation had a liquidation, termination, or dissolution; and provide the information. The foundation's final return is due by the 15th day of the 5th month after the end of the period for which a return is due. For example, a foundation that has a calendar year tax period and terminates at the end of the calendar year must file the final return by May 15th of the year after the year in which the termination occurs. If the same foundation terminates on August 31, it must file the return on or before the 15th day of the fifth month ,i.e., 4 months and 15 days, from the date on which the termination occurs.



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