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TAXES AND TAX RETURNS – WHAT YOU NEED TO KNOW
By
Eric Glazer, Esq.
Published July 20, 2020
This year you can thank the Coronavirus for getting an extension
on the filing of your tax return. We normally know tax day to
be April 15th. This year it’s
July 15th.
Here is one thing you need to know. All Florida community
associations must file a federal tax return even though they are
not for profit corporations. You would be surprised how many
associations don’t know that. Often times boards believe that
just because they prepared their year-end financial report, they
did all they needed to do. They are wrong, a return must be
filed.
When else do tax returns come into play? Often times community
associations ask to see the tax returns of persons who seek to
move into the community as a tenant or a purchaser of a unit or
home. Many times the Boards ask for the returns even when they
ran a credit report and the owners are buying for cash. So they
why does the Board need to see the tax returns? That’s what one
judge wanted to know in Collier County and she was not happy.
To read a very interesting opinion about what one judge thought
about having to supply tax returns,
CLICK HERE TO
READ THE FINAL RULING
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About
HOA & Condo Blog
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Eric Glazer graduated from
the University of Miami School of Law in 1992 after
receiving a B.A. from NYU. He has practiced community
association law for more than 2
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decades and is the owner of Glazer
and Sachs, P.A. a seven attorney law firm with offices in
Fort Lauderdale and Orlando and satellite offices in Naples,
Fort Myers and Tampa.
Since 2009, Eric has been the host
of Condo Craze and HOAs, a weekly one hour radio show that airs
at noon each Sunday on 850 WFTL.
See:
www.condocrazeandhoas.com.
He is the first attorney in the
State of Florida that designed a course that certifies
condominium residents as eligible to serve on a condominium
Board of Directors and has now certified more than 10,000
Floridians all across the state. He is certified as a Circuit
Court Mediator by The Florida Supreme Court and has mediated
dozens of disputes between associations and unit owners. Eric
also devotes significant time to advancing legislation in the
best interest of Florida community association members.
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