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………
On June 1, 2016, the Supreme Court ruled on a case decided by a Suffolk Circuit Court Judge regarding the
There is an expression, “If you ever truly want to understand something, just try to change it.” When a new