Associations &


My  O


ver the years, I have been asked this  


             the IRS has approved a particular tax status.**


 


18 Community Associations Journal | April 2021


  


   association pays taxes.


 all types of assessments, late fees, interest on unpaid dues,  taxable income may include interest and investment


**Please note that association tax rules can be complex with many nuances, therefore this article should not be relied on to prepare tax returns. The purpose of this article is to broadly discuss the tax attributes of associations. Associations should  prepare tax returns.


Taxes — By David Schwindt, CPA —


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