Updated IRS Priority Guidance Plan Includes Opportunity Zones, LIHTC, NMTC, HTC and ITC
The Department of Treasury today released a second-quarter update to its 2017-2018 Priority Guidance Plan. Guidance for Opportunity Zones created under the new tax law was added in this update. Guidance planned in previous versions that are still on the list include Section 42 low-income housing tax credit compliance monitoring final regulations, Section 45D new markets tax credit recapture, Section 47 historic rehabilitation tax credit and 2017 disaster relief, and Section 48 renewable energy investment tax credit for solar. The 2017-2018 Priority Guidance Plan reflects projects that Treasury and the Internal Revenue Service plan to complete from July 1, 2017, to June 30, 2018.