IRS Revenue Procedure 2021-43: Extends Safe Harbors, Provides Guidance for 4 Percent Properties
IRS Revenue Procedure 2021-43 provides safe harbors for determining whether an exempt facility bond issue that is issued after December 31, 2020, or an allocation of a housing credit dollar amount that is made after December 31, 2020, is more than de minimis for purposes of Holdings 2 and 3 of Rev. Rul. 2021-20. That ruling addresses whether the minimum 4 percent applicable percentage (4 percent floor) under ยง 42(b)(3) of the Internal Revenue Code applies to a building.
