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Guide for Completing Form 8823 - page 5 / 197

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5 / 197

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Category 11j – Violation(s) of the Vacant Unit Rule under Reg. 1.42-5(c)(1)(ix)

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Category 11k – Owner Failed to Execute and Record Extended Use Agreement Within Time Prescribed by Section 42(h)(6)(J)

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Category 11l – Low-Income Units Occupied by Nonqualified Full-Time Students *Exhibit 17-1, Student Status Verification*

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Category 11m – Owner Did Not Properly Calculate Utility Allowance

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Category 11n – Owner has Failed to Respond to Agency Requests for Monitoring Reviews

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Category 11o – Low Income Units Used on a Transient Basis

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Category 11p – Project is No Longer in Compliance Nor Participating in the LIHC Program

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Category 11q – Other Noncompliance Issue – Qualified Nonprofit Organization Failed to Materially Participate

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Category 11q – Other Noncompliance Issues

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Line 13 – Building Disposition Exhibit 24-1, Explanation of Credit Recapture Requirements Under IRC §42(j)

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Miscellaneous Noncompliance Topics - Tenant Misrepresentation or Fraud - Owner/Taxpayer Fraud

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Tenant Good Cause Eviction and Rent Increase Protection

Explanations of Revisions

  • 1.

    Revisions takes into account amendments to IRC §42 by the Housing Assistance Tax Act of 2008, HUD’s revisions to Handbook 4250.3, and revisions to Treas. Reg. 1.42-10. Revisions were also made to clarify existing text. Revisions are identified by surrounding new/revised text with astericks.

  • 2.

    There are two new exhibits, Exhibit 4-1 and Exhibit 17-1.

  • 3.

    Although the revision date is October 2009, no revisions were made to Chapters 3, 7, 13, 19, or 20.

  • 4.

    The only technical change is the treatment of Unit 8 in Example 1 on page 4-29 and 4-30. In the January 2007 revision of the guide, the unit was considered a low-income unit. It is now considered a vacant market rate unit. Please note that the IRS will not challenge a taxpayer’s reliance on the January 2007 explanation for determining the status of a unit before January 1, 2010. See Chapter 4, footnote 45.

ii

Revised October 2009

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