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IRS INVITES COMMENTS ON FORM 8877, REQUEST FOR WAIVER OF ANNUAL INCOME RECERTIFICATION

Monday, June 4, 2007 - 8:00AM

The Internal Revenue Service (IRS) today invited comments concerning Form 8877, Request for Waiver of Annual Income Recertification Requirement for the Low-Income Housing Credit. Owners of low-income housing tax credit (LIHTC) buildings that are 100 percent occupied by low-income tenants may use Form 8877 to request a waiver from the annual recertification of income requirements, as provided by Internal Revenue Code Section 42(g)(8))(B). There are no changes being made to the form at this time; the invitation to comment was issued as part of the Treasury Department’s continuing effort to reduce paperwork and respondent burden as required by the Paperwork Reduction Act of 1995. Written comments will be accepted through August 3, 2007. Click here for more information.

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