The Internal Revenue Service (IRS) has released it latest LIHC Newsletter, which provides a forum for information about Section 42, the Low-Income Housing Tax Credit (LIHTC), and communicates technical knowledge and skills, guidance, and assistance for developing LIHTC properties. LIHC Newsletter #53 provides guidance on developer fees and audit issues and techniques to be mindful of when considering developer including character of the services provided, services actually provided, reasonableness of the free amount, and method of payment.
In addition, the Newsletter also includes information about the Guide for Completing Form 8823.
Click here to read Newsletter #53.
