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The IRS recently released its 2015-2016 Priority Guidance Plan as well as a fourth-quarter update to the 2014-2015 guidance plan. Through this plan year, the IRS plans to address 277 projects. Compared to the prior version of the plan, the IRS has removed a few tax credit-related priorities. It removed the proposal to update Rev. Proc. 2007-54, which provides low-income housing tax credit relief in the case of a presidentially declared disaster area.
