TAXES AND TAX RETURNS Ė 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 itís 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 donít 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?  Thatís 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

Eric Glazer 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

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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