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IRS INVITES COMMENTS ON DISASTER RELIEF GUIDANCE

Thursday, October 9, 2008 - 7:30AM

The Internal Revenue Service today invited comments on Notice 2008-58 and Notice 2008-61 in which it provides guidance related to emergency housing relief in the Midwest. In the notices, the IRS suspends certain requirements under section 42 of the Internal Revenue Code for low-income housing credit projects in an effort to expand the availability of housing for disaster victims and their families in the wake of severe storms, tornadoes and flooding in Iowa and Wisconsin. No changes are being made to the regulation at this time and comments will be accepted until December 8.

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