WebSep 19, 2012 · IRS Revenue Ruling 70-604 for Community Associations ... It is recommended that most associations should make a 70-604 election every year even if they later determine they will not elect to be taxed as a regular corporation. If circumstances dictate that this election would not apply in a given year, the resolution is simply ignored. ... WebRevenue Ruling 70-604 was published by the IRS (Internal Revenue Service) in 1970 in response to tax practitioners' requests for some sort of relief from the inherent inequities …
01 - General Election Statement - Drake Software
WebThis tax election under Revenue Ruling 70-604 is the tax equivalent of the normal budget process. But, it does require approval and documentation to comply with IRS rules. © … WebElection to Capitalize and Amortize Research and Experimental Expenditures Over Ten (10) Years . Election: Pursuant to IRC Section 59(e)(4), the S Corporation hereby elects to capitalize and amortize the ... 13 - Agreement to Notify IRS of Any Stock Acquisition Subsequent to Redemption (sec 302(b)(3)) Title: Agreement to Notify IRS of Any Stock ... greenthumb sheffield
Revenue Ruling 70-604 Election - Schwindt & Co
WebRevenue ruling 70-604 specifically identified the subject association as a "condominium management corporation". From the wording of the ruling, it is assumed that the subject association is a "residential" association, particularly since commercial associations were virtually unknown in 1970. WebThe original text of IRS Revenue Ruling 70-604 is shown below. IRS Headnote. Excess assessments by a condominium management corporation, over and above the amounts … http://www.revenueruling70-604.com/articles-explaining-revenue-ruling-70-604/timingof-the-70-604-election greentech of iowa grimes ia