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Guide for Completing Form 8823 - page 20 / 197

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6. Descriptions of noncompliance or additional information *are not required, but if* submitted with the Form 8823, *descriptions* should be concise; however, avoid the use of canned or repetitive statements. It is helpful to identify the unit number, the date out of compliance and the date corrected, and summarize the problems with a brief description. Copies of reports and notification letters sent to the owner describing the noncompliance, electronic pictures, and newspaper articles are also helpful.

Concisely describe the content of any additional information maintained by the state agency; e.g., physical inspection reports, photographs, written statements from tenants, etc. Do not send photocopies of pictures; they are not useful.

State agencies should also include explanations when they suspect owners, managing agents, or other parties may have misrepresented factual information such as falsifying income verifications or altering tenant files.

7.

State agencies should report all noncompliance of which they are aware as a result of the annual certification or periodic review of tenant files and physical inspection of the property, without regard to whether the initially outstanding noncompliance is subsequently corrected. See chapter 3 for additional discussion.

Independently, state agencies must also report any change in the applicable fraction (such as converting LIHC units to market rate units) or eligible basis (such as converting common area to commercial space) that results in a decrease in the qualified basis as noncompliance.

8.

There is no “noncompliance corrected” block available for category 11p, Project is no longer in compliance nor participating in the program. Should the state agency decide to reinstate the property, the state agency should contact the IRS Low- Income Housing Credit program analyst.

Line-By-Line Instructions

Line 1

Building Information: Ensure that the complete building (or project) name and address, including ZIP code is identified.

Line 2

BIN: Ensure that building identification number is correct. It should consist of the two letter state abbreviation, two-digit year and five-digit number assigned.

Line 3

Owner Information: Remember to check the box if the current owner's name is different than the owner shown on Form 8609. Ensure that the current owner’s EIN/SSN is correct. If there is more than one owner, attach a schedule listing the name, address, and EIN/SSN of each owner.

Line 4

EIN: Ensure that the identification number for the owner is correct and check the box SSN for individual taxpayers (xxx-xx-xxxx) or EIN for business entities (xx-xxxxxxx) such as corporations and partnerships.

Line 5

Total credit allocated to this BIN: Provide the total allowable LIHC allocated to this BIN. This is computed by adding the amounts of credit allocated to the BIN on all

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Revised October 2009

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