Helping HOAs & Condo Assocations File Tax Returns
We continually have HOA boards and management companies inquire about Revenue Ruling 70-604 ("70-604"). In this post we will provide a comprehensive examination of the ruling and look at it's …
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Almost all members of a homeowner or condo association ask this question, even the board elected to manage the HOAs or COAs. This is because HOA and COA taxations have different forms to be filed, …
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Living in a residential development that is planned according to community standards and provide social amenities like parks, clubhouses for everyone residing within the community means you are part …
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Most Kentucky homeowner associations and condo associations are classified as non-profit corporations pursuant to the Non-profit Corporations Act. Non-profit corporations are considered as …
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Understanding tax laws relating to Pennsylvania HOAs and condo associations may sound complex. But if you understand some of the basic rules you can stay out of trouble. IRC §528 governs whether or …
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Taxation of condo associations is an area with a lot of confusion. Many associations believe they are tax-exempt as “non-profits” and are not required to file a condo association tax return. As a …
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