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IRS Issues Revenue Ruling About LIHTC, Including Qualification Standards

Friday, July 30, 2004 - 1:45AM

The Internal Revenue Service on July 29 issued Revenue Ruling 2004-82, answering 12 questions about the low-income housing credit under tax code Section 42. Among other things, the IRS clarified that if a tenant occupies a unit at the end of the month (and the unit was in service for the entire month) then that unit qualifies for LIHTC for the entire month. To read the ruling, click here.

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