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By CondoAssociation.com • June 23, 2019

How to file community association tax statements

Our condo association once filed taxes with the IRS but stopped filing required tax forms to the IRS. The board has used the old tax exempt number throughout the years without filing taxes.  I've made them aware of this and that I called the IRS to get information on a few things.

1-What is the Fiscal year from the IRS? They say their records indicate December 31st. So does the Association first need to file with the IRS to change the Fiscal year date or can they change it without filing taxes or notifying the IRS of this change?

2-Without filing Federal tax forms can you still use the tax ID number. I was told the Association lost its tax-exempt status long ago. So will the Association be in big trouble with the IRS?

We are listed as a Non-profit in Ohio which I think doesn't have anything to do with being tax-exempt.

I'm I right on this?

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Please note that blog comments and postings are not legal advice, rather only the opinions of our readers.

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