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IRS Notice 2016-77

Published on February 26, 2016
IRS Notice 2016-77

Treasury and IRS issue Notice 2016-77 regarding the Low Income Housing Tax Credit (Housing Credit) statute’s required preference for projects located in a Qualified Census Tract (QCT) that are subject to a concerted community revitalization plan. Notice 2016-77 indicates that some states may have given preference to projects that are located in QCTs without regard to whether the projects contribute to a concerted community revitalization plan.

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