IRS Issued Notice 2005-69 as a Result of the Devastation Caused by Hurricane Katrina

Friday, September 9, 2005 - 7:45AM

As a result of the devastation caused by Hurricane Katrina, the Internal Revenue Service (IRS) today issued formal guidance in Notice 2005-69 suspending certain requirements under Section 42 of the Internal Revenue Code for low-income housing tax credit (LIHTC) projects in the United States. Click here for a copy of the notice. It should be noted that while many state housing agencies are compiling lists of available housing units for their own use in assisting disaster vicitims, the IRS says that to comply with the requirements of IRC Section 1.42-5, project owners are required to list the project on the National Emergency Resource Registry (NERR) maintained by the Department of Homeland Security. Additional information about housing-related Hurricane Katrina relief is available here.

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