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IRS INVITES COMMENTS ON EXISTING LIHTC REGULATIONS

Monday, October 4, 2010 - 8:00AM

The Internal Revenue Service (IRS) today invited public comments on Treasury Decision (TD) 8563, State Housing Credit Ceiling and Other Rules Relating to the Low-Income Housing Credit. TD 8563 provides rules relating to the order in which low-income housing tax credit (LIHTC) dollar amounts are allocated from each state’s housing credit ceiling under Internal Revenue Code section 42(h)(3)(C) and the determination of which states qualify to receive credit from a national pool of credit under section 42(h)(3)(D). No changes are being made to the regulation at this time; the comment request was made as part of the effort to reduce paperwork and respondent burden under the Paperwork Reduction Act of 1995. Written comments should be received on or before December 3, 2010 to be assured of consideration.

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