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Guide for Completing Form 8823 - page 197 / 197

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197 / 197

Annual Certification

The noncompliance is corrected when the owner certifies that for the preceding 12- month period no tenants in low-income units were evicted or had their tenancies terminated other than for good cause and that no tenants had an increase in the gross rent with respect to a low-income unit not otherwise permitted under IRC § 42. In the event that tenant(s) in low-income units were evicted or had their tenancies terminated other than for good cause, or that tenant(s) had an increase in the gross rent with respect to a low-income unit not otherwise permitted under IRC § 42, the annual certification must disclose the violations.

Corrected noncompliance is reported under category 11k, Owner Failed to Provide Annual Certifications or Provided Incomplete or Inaccurate Certification. See chapter 7 for additional discussion.

Increased Gross Rent

A unit is back in compliance when the rent charged does not exceed the limit. An owner cannot avoid the disallowance of the LIHC by rebating excess rent to the affected tenants. Corrected noncompliance is reported under category 11g, Gross Rent(s) Exceed Tax Credit Limits. See chapter 11 for additional discussion.

Reference

  • 1.

    IRC §42(h)(6).

  • 2.

    Rev. Rul. 2004-82, 2004-35, I.R.B. 1.

  • 3.

    Rev. Proc. 2005-27, 2005-28 I.R.B. 1.

26-6

Revised October 2009

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