NCSHA Recommendations for IRS/Treasury 2022-23 Priority Guidance Plan
This June 3, 2022, letter provides NCSHA’s recommendations to the Internal Revenue Service and Treasury Department for their 2022–23 Priority Guidance Plan. The annual Priority Guidance Plan sets the major guidance projects the IRS and Treasury intend to undertake each year. NCSHA’s recommendations focus on guidance needs related to the Housing Credit — Average Income Test, Covid-19 relief, disaster Housing Credits, over-income tenants in acquisition/rehabilitation properties, application of the Violence Against Women Act, compliance monitoring, nonprofit right of first refusal, planned foreclosure, disaster relief, casualty loss, and relocation expenses, as well as guidance needs related to tax-exempt Housing Bonds — carryforward authority, record retention, mortgage fees and effective interest rates for mortgage revenue bond loans, and covered investments under the special yield reduction rate.
