The IRS issued guidance on Oct. 7 that makes several changes to the low-income housing tax credit rules. The changes include extended housing credit program deadlines and finalization of a rule that will make more-affordable housing developments financially viable. The new guidance “will have an immediate impact, allowing stalled housing developments to move forward at a time when rents are skyrocketing,” said Emily Cadik, CEO of the Affordable Housing Tax Credit Coalition. These changes also correct a problem with a previously enacted rule. The final regs will become effective upon publication in the Federal Register. Call or visit our website for more information! www.mjscpa.com/
