IRS Publishes Final Average-Income Regulations

The IRS recently published a final rule to implement Congress’s 2018 authorization of a third set-aside option for LIHTC sites. Under the LIHTC program, all tax credit owners must formally notify the IRS of their minimum set-aside election for their building or site when they file IRS Form 8609. Meeting your site’s minimum set-aside is the most important goal you have as a tax credit manager. If you meet the set-aside, the owner of your site will be entitled to claim its tax credits.