Day: November 10, 2023
What Is the Difference Between Form 1120-H and 1120?
Homeowners associations file annual tax returns like any other registered corporation. The only difference is that HOAs have distinct taxation laws with different rates. When filing tax returns, your association can select from two filing methods—Form 1120-H or Form 1120. Interestingly, an HOA can switch from one filing option to another each financial year. Each…