Friday, May 3, 2024
Gift Administration

8.1.3 Basic Quiz -- IRS Tax Forms
Payments from a gift annuity must be reported by the annuitants on their tax returns.
     True      False
Charities issuing gift annuities must provide all active annuitants with Form 1099-R by July 31 of each year.
     True      False
Charities must also submit forms to the IRS concerning gift annuities issued by the charity.
     True      False
Charities filing electronically for the first time must submit Form 4419.
     True      False
Form 4419 must be submitted to the IRS at the time the charity files electronically.
     True      False
A charity may print Copy A on regular blank printer paper.
     True      False
Form 1096 is simply an information return.
     True      False
If an organization is filing more than 50 Form 1099-Rs, it must do so electronically.
     True      False
Form 1099-R is not available on the IRS web site.
     True      False
A $150 penalty is applied to each form that the IRS is unable to scan.
     True      False



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