Federal Regulations & Notices
IRS Publishes Regulations Amending the Housing Credit Compliance Monitoring Requirements
The Internal Revenue Service (IRS) issued regulations amending the Low Income Housing Tax Credit (Housing Credit) compliance monitoring requirements to revise and clarify physical inspection and certification review rules.
HUD Federal Register Notice on DDAs and QCTs
HUD published a Notice in the Federal Register designating Difficult Development Areas (DDA) and Qualified Census Tracts (QCT) for 2018.
IRS Revenue Procedure 2014-49
On April 10, the Internal Revenue Service published Notice 2020-23 providing additional relief for taxpayers affected by the coronavirus pandemic. The Notice provides that taxpayers have until July 15, 2020 to perform specified time-sensitive actions that are due to be performed on or after April 1, 2020, and before July 15, 2020.
IRS Revenue ProcedureĀ 2014-50
In the context of a Major Disaster, this revenue procedure provides temporary relief from certain requirements of Ā§ 142(d) of the Internal Revenue Code for Issuers and Operators. This revenue procedure also provides emergency housing relief for individuals who are displaced by a Major Disaster from their principal residences in certain Major Disaster Areas. This revenue procedure provides relief for both Bond Projects and Bond/LIHTC Projects. For Bond/LIHTC Projects, see also Rev. Proc.
