IRS Extends Physical Inspections Pilot Program Deadline
The Internal Revenue Service (IRS) today announced in Notice 2014-15 that state housing finance agencies (HFAs) participating in the Physical Inspections Pilot Program will have until Dec. 31, 2014 to satisfy certain physical inspection and certification requirements under Section 42. Notice 2014-15 extends the deadline for using alternative methods to meet the requirements outlined in Notice 2012-18, which expired Dec. 31, 2012. The pilot program was created by the Rental Policy Working Group to determine the feasibility of avoiding duplicative physical inspections by conducting one coordinated inspection.
Tune into the March 3 Tax Credit Tuesday podcast to hear more about the Physical Inspections Pilot Program.