IRS Extends Due Date on Certain HTC Transaction Disclosures

Friday, April 28, 2017 - 9:00AM

The Internal Revenue Service (IRS) released Notice 2017-29, which extends the due date for participants filing disclosures under Notice 2017-10  from June 21 to Oct. 2. Notice 2017-29 relates to certain syndicated conservation easement transactions–including those using historic tax credits (HTCs)–that are identified as tax-avoidance transactions. It also clarified that under Notice 2017-10, a donee described in IRC Section 270(c) is not considered a material advisor. The notice will be published May 15 in Internal Revenue Bulletin 2017-20.

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