Wong, Inc., a 501(c)(3) organization, is a private foundation with a tax year that ends on

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Wong, Inc., a § 501(c)(3) organization, is a private foundation with a tax year that ends on May 31. Gross receipts for the fiscal year are $180,000, and the related expenses are $160,000.
a. Is the entity required to file an annual information return?
b. If so, what form is used?
c. If so, what is the due date?
d. How would your answers in parts (a), (b), and (c) change if Wong were an exempt organization that was not a private foundation?

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South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts

ISBN: 1389

41st Edition

Authors: William H. Hoffman, William A. Raabe, James C. Young, Annette Nellen, David M. Maloney

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Question Posted: Jan 30, 2018 08:38 AM

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Wong, Inc., a 501(c)(3) organization, is a private foundation with a tax year that ends on

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a Yes the entity is required to file an annual information return as it is ...View the full answer

South Western Federal Taxation 2018 Corporations Partnerships Estates And Trusts

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