New Tax Credit Compliance Monitoring Regulations Out!

Analysis of the new rule makes it clear that a large number of tax credit properties will have many MORE units inspected by state agencies now. On Feb. 26, 2019, the IRS is publishing the final regulation in the Federal Register adjusting the compliance monitoring rules for tax credit properties (§1.42-5). Both physical inspections and the review of documentation will be adjusted. The regulations primarily adopt the temporary regulations that were published on Feb. 25, 2016, but with significant changes. The regulation can be read HERE. Highlights Of Changes Sample Size. The final regulations provide that the minimum number of units that must undergo physical and file inspection is the numb

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