Month: January 2022

Row of low income housing units.

IRS Extends Temporary Relief for Late-leased Units

Notice 2022-05 released by the Internal Revenue Service (IRS) on January 10, 2022 provided extensions to various compliance deadlines for low-income housing projects claiming credits under Internal Revenue Code (IRC) Section 42. Prior to the release of Notice 2022-05, the IRS had provided temporary relief in its Notice 2021-12. However, due to the ongoing COVID-19

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IRS Notice 2022-05 Extends Compliance Deadlines for LIHTC Projects

In response to the ongoing COVID-19 pandemic, the IRS has issued Notice 2022-05 on January 10, 2022 to extend temporary relief from certain requirements under the Internal Revenue Code (IRC) Section 42 for qualified low-income housing projects.  For relief that was provided before this recent IRS notice, please refer to our 1/25/21 blog “IRS Notice

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