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New Disclosure Requirements for Form 990-T

Editor: Terence E. Kelly, CPA Under new Sec. 6104(d)(1)(A)(ii),Sec. 501(c)(3) organizations now have to disclose publicly their Forms 990-T, Exempt Organization Business Income Tax Return. The penalty is the same as that for nondisclosure of Form 990, Return of Organization Exempt from Income Tax. Currently, this penalty is $20 per