Do HOAs Have To File Tax Returns?
A home owners association is considered a corporation by the Internal Revenue Service. Even if the association is organized as a non-profit, the IRS will treat it as a corporation. That means HOAs must file tax returns, including a state return in some states, but that does not necessarily mean an HOA may owe taxes. Know the rules before you get your HOA into any tax troubles. HOA tax returns require some special handling of different types of income and expenses. Read the article………
3 Steps for community peace; we’ll tackle world peace next time. Noisy neighbors… Almost everyone will have to deal
Many community associations provide for music and movies to be played in the common areas or common elements for the