IRS Private Letter Ruling Allows Offsite Improvements in Tax Credit Eligible Basis
Affordable Housing Seminar Series

IRS Invites Comments Concerning Low-Income Housing Tax Credit Recapture Form

IRS The IRS is inviting comments concerning Form 8611, Recapture of Low-Income Housing Credit. All written comments must be received by the IRS on or before July 28, 2009 for consideration. The owner must recapture on Form 8611 some or all of the low-income housing credits taken in prior years if the property fails to meet certain requirements over the 15-year compliance period and a bond is not posted or if the project is disposed of. Comments are specifically invited on the following: 1) Whether the collection of information is necessary for the proper performance of the functions of the agency, 2) the accuracy of the agency’s estimate of the burden of the collection of information, 3) ways to enhance the quality, utility, and clarity of the information to be collected, 4) ways to minimize the burden of collecting information from respondents, and 5) estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information.

We hope you never have a need for IRS Form 8611!  If you have experience with recapture (or even if you don't) and would like to comment on the form, don't miss your chance!


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