Question:
Is a SIGNED copy of IRS tax Returns (Form 1120-H) required to be kept the corporate files?
– Robert
Answer:
Hi Robert,
Generally, it is best to retain a record of your tax returns for at least 7 years. The IRS recommends keeping tax returns for 3-7 years (depending on certain circumstances) for small businesses and self-employed. That being said, Alabama law does not specify how long HOAs should keep tax returns. You should also check your governing documents, as they may contain provisions concerning records retention.
Disclaimer: We are not lawyers. The information provided on this website does not constitute legal advice.
