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IRS RULES INDIAN HOUSING BLOCK GRANT PAYMENTS NOT GRANTS FOR PURPOSES OF SECTION 42

Thursday, December 27, 2007 - 8:00AM

The Internal Revenue Service (IRS) in Revenue Ruling 2008-6 today announced that it has determined that certain rental assistance payments made under the Department of Housing and Urban Development's (HUD') Indian Housing Block Grant program are not federal grants for purposes of the low-income housing tax credit (LIHTC) under Section 42 of the Internal Revenue Code.

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