HOAs Must File Annual Tax Returns!

Especially with self-managed communities, there seems to be a lot of confusion (and questions) about community association taxes and tax returns. The answers are pretty simple. The bottom line is that community associations need to file federal and state (at least in Georgia) tax returns, and most are due on March 15 each year. Most associations should also pay little to no taxes. Below you’ll find more information about what and how to file, and how to get back on track if your association has not filed returns for a number of years.   Read the article…………


Tags assigned to this article:
HOAtaxes

Related Articles

Emotional Support/Companion Animals – Are People Claiming Disabilities to Get Around Pet Restrictions?

In the past 5 years, community living associations, such as condominiums, co-operatives and homeowner associations, are increasingly being inundated with

Community Association Managers’ Duty To The Association (FL)

As per Section 718.111(a), Florida Statutes, the officers and directors of a condominium association owe a fiduciary duty to their

Tips for Getting Your Community FHA Approved

Starting the FHA Approval process is not difficult, but it does differ depending on your role in the community.