Excise Tax Based On Investment Income [F990PF-015-01] - How do I resolve it?
138 views | Last modified 5/7/2024 7:31:49 AM EST |

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

IRS  Error code: Form 990-PF: [F990PF-015-01]

Rejection Message: 

The sum of the Exempt operating foundation described in Section 4940(d)(2) and the Tax under Section 511 of the Excise Tax Based On Investment Income must have a value. If there is no value, then the sum can be treated as a zero.

What does it mean:

For a foundation described under Section 4940(d)(2), the sum of the Exempt operating foundation described in Section 4940(d)(2) and the Tax under Section 511 of the Excise Tax Based On Investment Income must have a value. If there is no value, then the sum can be treated as a zero.

Resolution:

If your private foundation meets the requirement of Section 4940(d)(2), make sure the sum of the Exempt operating foundation described in Section 4940(d)(2) and the Tax under Section 511 of the Excise Tax Based On Investment Income has a value. If there is no value, then the sum can be treated as a zero.

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.

Was this helpful? Yes No

Tax990 Support

Need more help?

Get in touch with our dedicated support team Contact Us