We often get asked whether community associations can or do qualify as 501(c) organizations under the Internal Revenue Code. Sometimes the question arises because the association derives too much income from sources other than assessments to file IRS Form 1120-H, and it is looking at way to...
Tax Time
Assocations must file!
While the end of the year traditionally means a congested calendar and a lengthy to-do list for most people, Associations also face another important year-end activity: preparing to file federal – and, in some cases, state-tax forms.
