Sign Up For Novogradac Industry Alert Emails

IRS INVITES COMMENTS ON LIHTC PROPERTY INSPECTIONS

Wednesday, February 8, 2012 - 8:00AM

The Internal Revenue Service (IRS) today issued Notice 2012-18 to inform state housing finance agencies (HFA) participating in the Physical Inspections Pilot Program of an alternate method of satisfying certain requirements under Section 42. The pilot program was created by the Rental Policy Working Group to test the feasibility of avoiding duplicative physical inspections by conducting one coordinated inspection. The IRS also invited comments on the 20 percent rule for physical inspections and certification rule under Section 42. Comments on these topics, or Notice 2012-18, should be submitted by May 31.

To learn more about Notice 2012-18 and the Physical Inspections Pilot Program, tune in to the Tax Credit Tuesday Podcast on February 14.

Learn more about Novogradac's expertise and many services