Sign Up For Novogradac Industry Alert Emails

IRS Newsletter Discusses Assorted LIHTC Topics

Tuesday, April 1, 2014 - 7:00AM

In LIHC Newsletter #55, the Internal Revenue Service (IRS) discusses foreclosure of low-income housing tax credit (LIHTC) properties, updates to public housing authority (PHA) utility allowances, and the draft Internal Revenue Code (IRC) §42 audit technique guide. The newsletter also clarifies that noncompliance corrected before submitting Form 8823 to the IRS may still be subject to tax consequences, such as credit loss or recapture.

Learn more about Novogradac's expertise and many services