Latest News from IRS Regarding Homeowner Associations

Aug 14, 2013 | Federal Tax Developments, HomeOwners' Associations, IRS Tax Tips, Prescott Accounting

The IRS recently posted this information regarding the tax-exempt status of Homeowners’ Associations.  There is often confusion between Non-Profit Status in the eyes of the Arizona Corporation Commission and in the eyes of the IRS.  Most homeowners associations will not be granted tax-exemption by the IRS, and are expected to file an 1120 or 1120H.  Click on the link below for more information:



Schutte & Hilgendorf CPAs has over 20 years experience invested in the complex accounting and tax treatment of Homeowners’ Associations. We provide audit, review and compilations to homeowners association to help them meet the annual Arizona statutory requirement.  In addition, we provide tax planning and preparation services to Associations all year around.  Call us today to schedule your free initial consultation 928-778-0079.

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Specialized Company

 We specialize in audit, accounting and taxes for individuals, companies, non-profit entities, and homeowner's associations.

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We are known for a straightforward personal approach and customized solutions to meet the evolving issues clients face.

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AICPA Members
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8 CPAs and 2 EAs on staff

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We are part of the successor to a long established local accounting firm which has served its clients in Prescott for more than 35 years.

We service all of Yavapai County including Prescott, Prescott Valley, Dewey, Chino Valley, Verde Valley, Flagstaff and Sedona.