The Internal Revenue Service (IRS) issued Notice 2011-83 to grant certain low-income housing tax credit (LIHTC) properties relief from certain requirements to provide emergency housing relief needed as a result of the devastation caused by Hurricane Irene or Tropical Storm Lee in Pennsylvania. The IRS said it will temporarily suspend income limitation and non-transient requirements for LIHTC properties that have received approval from the Pennsylvania Housing Finance Agency to rent vacant units to individuals displaced by natural disasters.
Click here to read Notice 2011-83.
