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2010

Department of the Treasury

Internal Revenue Service

Instructions for

Form 1120-H

U.S. Income Tax Return for Homeowners Associations

How To Get Forms

Electing To File Form

Section references are to the Internal

Revenue Code unless otherwise noted.

and Publications

1120-H

A homeowners association elects to take

Internet. You can access the IRS

What’s New

advantage of the tax benefits provided by

website 24 hours a day, 7 days a week, at

section 528 by filing a properly completed

IRS.gov

to:

Beginning January 1, 2011, associations

Form 1120-H. The election is made

•

Download forms, instructions, and

must use electronic funds transfers to

separately for each tax year and generally

publications;

make all federal tax deposits (such as

must be made by the due date, including

•

Order IRS products online;

deposits for employment tax and income

extensions, of the income tax return.

•

Research your tax questions online;

tax). Forms 8109 and 8109-B, Federal

•

Search publications online by topic or

Tax Coupon, cannot be used after

This extension does not extend the

keyword; and

December 31, 2010. See Electronic

time to pay the tax.

•

deposit requirement on page 3.

tax news by email.

Once Form 1120-H is filed, the

Photographs of

association cannot revoke its election for

IRS Tax Products DVD. You can order

that year unless the IRS consents. The

Missing Children

Pub. 1796, IRS Tax Products DVD, and

association may request IRS consent by

obtain the following:

filing a ruling request. A user fee must be

The Internal Revenue Service is a proud

•

paid with all ruling requests. For more

partner with the National Center for

Current-year forms, instructions, and

information on ruling requests, see Rev.

Missing and Exploited Children.

publications.

•

Proc. 2011-1, 2011-1 I.R.B. 1.

Photographs of missing children selected

Prior-year forms, instructions, and

by the Center may appear in instructions

publications.

If the association does not elect to use

•

on pages that would otherwise be blank.

Tax Map: an electronic research tool

Form 1120-H, it must file the applicable

You can help bring these children home

and finding aid.

income tax return, for example, Form

by looking at the photographs and calling

•

Tax Law frequently asked questions.

1120, U.S. Corporation Income Tax

1-800-THE-LOST (1-800-843-5678) if you

•

Tax Topics from the IRS telephone

Return.

recognize a child.

response system.

•

Internal Revenue Code – Title 26 of

A homeowners association should

Unresolved Tax Issues

the U.S.Code.

compare its total tax computed on Form

•

The Taxpayer Advocate Service (TAS) is

Fill-in, print, and save features for most

1120-H with its total tax computed on

an independent organization within the

tax forms.

Form 1120. The association may file the

•

IRS whose employees assist taxpayers

Internal Revenue Bulletins.

form that results in the lowest tax.

•

who are experiencing economic harm,

Toll-free and email technical support.

who are seeking help in resolving tax

•

Automatic 12-month extension to

Two releases during the tax year.

problems that have not been resolved

make election. If the homeowners

– The first release will ship in early

through normal channels, or who believe

association fails to make the regulatory

January.

that an IRS system or procedure is not

election to be treated as a homeowners

– The final release will ship in early

working as it should. The service is free,

association, it can get an automatic

March.

confidential, tailored to meet your needs,

12-month extension to make the section

Buy the DVD from National Technical

and is available for businesses, as well as

528 election, provided corrective action is

Information Service (NTIS) at

individuals.

taken within 12 months of the due date

gov/cdorders

for $30 (no handling fee) or

(including extension) of the return. See

The association can contact the TAS

call 1-877-233-6767 toll free to purchase

Regulations section 301.9100-2 for more

as follows.

the DVD for $30 (plus a $6 handling fee).

information.

•

Call the TAS toll-free line at

1-877-777-4778 or TTY/TDD

By phone and in person. You can

Tax rate. The taxable income of a

1-800-829-4059 to see if the association

order forms and publications by calling

homeowners association that files its tax

is eligible for assistance.

1-800-TAX-FORM (1-800-829-3676). You

return on Form 1120-H is taxed at a flat

•

Call or write the association’s local

can also get most forms and publications

rate of 30% for condominium

taxpayer advocate, whose phone number

at your local IRS office.

management associations and residential

and address are listed in the local

real estate associations. The tax rate for

telephone directory and in Pub. 1546,

General Instructions

timeshare associations is 32%. These

Taxpayer Advocate Service – Your Voice

rates apply to both ordinary income and

at the IRS.

capital gains.

•

Purpose of Form

File Form 911, Request for Taxpayer

Advocate Service Assistance (And

A homeowners association files Form

If the association is tax exempt under

Application for Taxpayer Assistance

1120-H as its income tax return to take

section 501(a), do not file Form 1120-H.

Order), or ask an IRS employee to

advantage of certain tax benefits. These

See section 6033 and related regulations.

complete it on the association’s behalf.

benefits, in effect, allow the association to

If the association loses its exempt status,

For more information, go to

exclude exempt function income (defined

see Regulations section 1.528-8(e).

gov/advocate.

later) from its gross income.

Cat. No. 24935G

Instructions For Form 1120-H - U.s. Income Tax Return For Homeowners Associations - 2010

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