[wazzackrind]

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Ugh, garage door drama! I swear some people just LOVE to play neighborhood police. Definitely don’t let them tell you what to do without proof. Also, just because someone says they’re on the “board” doesn’t mean they have any real authority. Stay strong!

[wazzackrind]

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This happened to me too! Realtor said no HOA but then after a few months, a “board member” came knocking on my door telling me I needed to cut my grass more often?? I was like, excuse me, what HOA? Apparently, some of these older neighborhoods have informal HOAs where the neighbors just act like there’s one. But legally, they have NO authority unless you signed something agreeing to it. I’d be cautious but don’t let them scare you. Ask for proof!

[wazzackrind]

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Make sure it’s postmarked by March 15th.

[wazzackrind]

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Hi @enginecore

Taxable items on the 1120-H form are detailed on lines 1 through 8, encompassing interest and dividends earned from the investment of reserve funds, which often constitute the entire gross income subject to taxation for many HOAs.

Line B captures income from assessments and other sources related to exempt functions (assuming there isn’t significant income beyond assessments, satisfying the 60% rule). Line C accounts for expenses such as insurance, maintenance, management, and includes additions to the reserve fund (critical for meeting the 90% rule).

It’s advisable to consult your bylaws, as some may stipulate the fiscal year. Your tax year and federal identification number may already be established if your developer has been handling HOA tax filings. If the developer didn’t file taxes in 2023, it’s essential to act promptly; 1120-H tax filings are due by March 15, 2024.

[wazzackrind]

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Indeed, HOAs are required to file tax returns. This topic has sparked significant discussion. You can find more information by clicking on the Search option, conducting a search, and then viewing and reading the relevant materials.

[wazzackrind]

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Filing for bankruptcy is possible but it’s rarely a good option. As a former board member, I suggest your POA board ramp up collection efforts. Increase assessments or levy a special assessment. It’s gonna be costly but homeowners should know that. Your HOA can try to take out a loan but I dunno if any bank would be willing to lend you money at this point since your POA is practically insolvent.

[wazzackrind]

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if you and the board don’t like the rules change them. it’s that simple.

[wazzackrind]

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have you tried just asking him to stop? because it seems like your main problem is the “harassment” and constantly knocking on your door everyday. if he stops doing that but still reports your violations to the board will you be satisfied?

[wazzackrind]

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this is the thing about home owner’s associations. no one ever wants to follow the rules but they want to reap all the benefits. it’s a two-way street buddy. if you broke the rules you gotta face the music.

[wazzackrind]

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It’s one of those spherical/circular cctvs where you don’t really know if it’s pointing at anywhere specific. Kind of feel like it has a more panoramic view.

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