Helping HOAs & Condo Assocations File Tax Returns
Many Americans live within a homeowners association (“HOA”). In fact, there are over 300,000 HOAs in the United States. But little is known about the tax filing requirements of HOAs, including how to file tax form 1120-H. In this post, we will walk through an HOA tax return. It is a relatively straightforward form, but […]
Unfiled HOA tax returns impact many HOAs across the country. In fact, many HOAs don’t actually realize that they have a filing requirement. It really is not that uncommon. But if the unfiled returns go on for long periods, they can result in large penalties and interest. We deal a fair amount with back HOA […]
Owning a home in Delaware planned community or development puts you in a homeowner or condominium association where you jointly own properties like roads and parks. One perplexing aspect of HOAs and condo associations is to understand their tax reporting requirement. Many Delaware homeowner associations and condo associations even don’t understand the requirement to file […]