Instructions For Form 1120-H - 2004 (Page 2 of 5) in pdf

Form 1120-H (2004)

Page

Who Must Sign

Exempt function income. Exempt

Alabama, Alaska,

function income consists of membership

Arizona, Arkansas,

The return must be signed and dated by

dues, fees, or assessments from

California, Colorado,

the president, vice-president, treasurer,

(a) owners of condominium housing

Florida, Georgia,

assistant treasurer, chief accounting

units, (b) owners of real property in the

Hawaii, Idaho, Iowa,

officer, or any other association officer

case of a residential real estate

Kansas, Louisiana,

(such as tax officer) authorized to sign.

Minnesota,

management association, or (c) owners

If a return is filed on behalf of an

Mississippi, Missouri,

Ogden, UT

of timeshare rights to use, or timeshare

association by a receiver, trustee, or

Montana, Nebraska,

84201-0012

ownership interests in, real property in

assignee, the fiduciary must sign the

Nevada, New Mexico,

the case of a timeshare association. This

return, instead of the association officer.

North Dakota,

income must come from the members

Returns and forms signed by a receiver

Oklahoma, Oregon,

as owners, not as customers, of the

or trustee in bankruptcy on behalf of an

South Dakota,

association’s services.

Tennessee, Texas,

association must be accompanied by a

Assessments or fees for a common

Utah, Washington,

copy of the order or instructions of the

Wyoming

activity qualify but charges for providing

court authorizing signing of the return or

services do not qualify.

form.

A foreign country or

Philadelphia, PA

If an association officer completes

U.S. possession

19255-0012

Examples. In general, exempt function

Form 1120-H, the paid preparer’s space

income includes assessments made to:

should remain blank. Anyone who

Paid Preparer Authorization

1. Pay principal, interest, and real

prepares Form 1120-H but does not

estate taxes on association property.

If the association wants to allow the IRS

charge the association should not

2. Maintain association property.

to discuss its 2004 tax return with the

complete that section. Generally, anyone

paid preparer who signed it, check the

who is paid to prepare the return must

3. Clear snow from public areas and

“Yes” box in the signature area of the

sign it and fill in the “Paid Preparer’s

remove trash.

return. This authorization applies only to

Use Only” area.

Income that is not exempt function

the individual whose signature appears

The paid preparer must complete the

income includes:

in the “Paid Preparer’s Use Only”

required preparer information and—

1. Amounts that are not includible in

section of the association’s return. It

● Sign the return in the space provided

the organization’s gross income other

does not apply to the firm, if any, shown

for the preparer’s signature.

than under section 528 (for example,

in that section.

● Give a copy of the return to the

tax-exempt interest).

If the “Yes” box is checked, the

taxpayer.

2. Payments from nonmembers.

association is authorizing the IRS to call

the paid preparer to answer any

Note. A paid preparer may sign original

3. Payments from members for special

questions that may arise during the

returns, amended returns, or requests

use of the organization’s facilities, apart

processing of its return. The association

for filing extensions by rubber stamp,

from the use generally available to all

is also authorizing the paid preparer to:

mechanical device, or computer

members.

software program.

● Give the IRS any information that is

4. Interest on amounts in a sinking

missing from the return,

fund.

Where To File

● Call the IRS for information about the

5. Payments for work done on

File the association’s return at the

processing of the return or the status of

nonassociation property.

applicable IRS address listed below.

any related refund or payment(s), and

6. Members’ payments for

● Respond to certain IRS notices that

If the association’s

Use the following

transportation.

the association has shared with the

principal business,

Internal Revenue

For more information, see Regulations

preparer about math errors, offsets, and

office, or agency is

Service Center

section 1.528-9.

return preparation. The notices will not

located in:

address:

When To File

be sent to the preparer.

Connecticut,

Generally, an association must file Form

The association is not authorizing the

Delaware, District of

Columbia, Illinois,

1120-H by the 15th day of the 3rd

paid preparer to receive any refund

Indiana, Kentucky,

month after the end of its tax year.

check, bind the association to anything

Maine, Maryland,

(including any additional tax liability), or

If the due date falls on a Saturday,

Massachusetts,

otherwise represent the association

Sunday, or legal holiday, the association

Michigan, New

before the IRS. If the association wants

may file on the next business day.

Hampshire,

Cincinnati, OH

to expand the paid preparer’s

New Jersey, New

45999-0012

Private delivery services. You can use

authorization, see Pub. 947, Practice

York, North Carolina,

certain private delivery services

Before the IRS and Power of Attorney.

Ohio, Pennsylvania,

designated by the IRS to meet the

Rhode Island,

The authorization cannot be revoked.

“timely mailing as timely filing/paying”

South Carolina,

However, the authorization will

rule for tax returns and payments. See

Vermont, Virginia,

automatically end no later than the due

the instructions for Form 1120 for

West Virginia,

date (without extensions) for filing the

details.

Wisconsin

association’s 2005 tax return.

Extension. File Form 7004, Application

for Automatic Extension of Time To File

Corporation Income Tax Return, to

request a 6-month extension of time to

file.

Instructions For Form 1120-H - 2004 Page 2

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