IRS INVITES COMMENTS ON LIHTC RECAPTURE FORM
The Internal Revenue Service (IRS) today invited public comments on Form 8611: Recapture of Low-Income Housing Credit. Low-income housing tax credit (LIHTC) property owners use Form 8611 to recapture part of the LIHTCs claimed in previous years if the property is disposed of or if it fails to meet certain requirements over a 15-year compliance period and a bond is not posted. No changes to the form have been proposed. Comments must be received by Nov. 16.