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Form 8609 is the IRS document that credit allocating agencies give to property owners as evidence that the owner is eligible to claim low-income housing tax credits (LIHTCs).
The statement must be attached to this Form 8609 and include: ● The name and address of the project and each building in the project, ● The BIN of each building in the project, ● The aggregate credit dollar amount for the project, and ● The credit allocated to each building in the project.
The IRS Document Upload Tool is a secure, easy and fast way to send information to the IRS. You can use the tool to: Upload scans, photos or digital copies of documents as JPGs, PNGs or PDFs. Get confirmation that we received your documents.
Most kinds of properties (single-family, multi-family, apartment complexes, and townhouses) can qualify for the LIHTC credit. An LIHTC housing project must agree to rent to tenants whose average income is below the areas median income, and this commitment must be maintained for a period of 15 years.
Housing credit agencies use Form 8823 as part of their compliance monitoring responsibilities under section 42(m)(1)(B)(iii) to notify the IRS of any building disposition or noncompliance with the low-income housing tax credit provisions.
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The minimum set-aside election for a project is made by the owner after the first year of the credit period on IRS Form 8609 line 10(c).
Get the current filing years forms, instructions, and publications for free from the IRS. Download them from IRS.gov. Order online and have them delivered by U.S. mail. Order by phone at 1-800-TAX-FORM (1-800-829-3676)