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CUNA advises on electronic Form 990 filings
WASHINGTON (5/15/08)—Any state-chartered credit union with gross income from an unrelated trade or business of $1,000 or more must file an Internal Revenue Service Form 990-T with the IRS annually, the Credit Union National Association (CUNA) is notifying credit unions. Responding to inquiries, CUNA has noted that the IRS requires institutions with more than $10 million in assets, and which file at least 250 IRS returns, to file some 990 forms electronically (including the IRS Form 990). However, CUNA has confirmed that the 990-T is not required to be filed electronically for tax year 2007. In fact, Form 990-T is not yet available for electronic filing with the IRS.


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