Condominium and Homeowner Federal Tax Returns again Due

/ Owner - March 5, 2015

Tax season is here once again! As nonprofit corporations, every community association in Ohio is required to file an annual tax return with the Internal Revenue Service. However, associations have the ability to choose between the filing of two different tax forms – Form 1120 or Form 1120-H. Form 1120-H is a short, simple, one-page form specifically designed by the IRS for community associations. In comparison, Form 1120 is a longer, more complex tax return, and is the standard form utilized by most corporations.   Read more………

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