20 Jan / Homeowner Association – Condo Tax Part 4
Your Homeowner Association could be at risk if it is filing form 1120 instead of Form 1120H. There are many requirements that a condominium association needs to follow if it is going to survive a IRS audit. The following video is a great recap of the complications that arise when a Homeowner Association attempts to file Form 1120.
Tax advice contained in this communication, including attachments and enclosures, is not intended or written to be used, and may not be used for the purpose of (i) avoiding tax related penalties under the Internal Revenue Code or (ii) promoting, marketing or recommending to another party any tax-related matters addressed herein.