IRS 2019-2020 Priority Guidance Plan Includes OZ, LIHTC, NMTC, HTC Issues

Wednesday, October 9, 2019 - 4:30pm

The Internal Revenue Service (IRS) this week released the 2019-2020 priority guidance plan, which established guidance priorities for the Department of the Treasury and IRS for the period from July 1, 2019, through June 30, 2020. The priority guidance plan includes plans to publish updated guidance concerning the opportunity zones incentive, provide regulations and guidance for the low-income housing tax credit average-income test, provide regulations that revise and clarify certain new markets tax credit rules and provide regulations to address amendments in the tax legislation at the end of 2017 that relate to the historic tax credit.