IRS SOLICITS COMMENTS ON FORM 8823
The Internal Revenue Service (IRS) today requested comments on Form 8823, Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. No revisions were made to the form; however, the IRS said it adjusted the burden computation to accurately reflect the total burden hours associated with the data collection. The IRS uses Form 8823 to determine whether the low-income housing tax credit is being correctly claimed and whether there is any credit recapture. Written comments on the proposed information collection must be received by September 6.