Tag: HOA Tax election

HOA IRS Revenue Ruling 70-604: What It Means When Homeowners Vote for It or Against It

Every year, your HOA holds its annual meeting, and buried in the agenda is a confusing line item that reads something like this: Vote to apply excess membership income to the following year’s budget or refund it to members: IRS Revenue Ruling 70-604. Most homeowners glance at it, shrug, and move on, but what you […]