IRS Announces Priority Guidance Plan
The Treasury Department and the Internal Revenue Service announced the release of the 2009-2010 Priority Guidance plan.
The plan contains 315 projects to be completed by the IRS over a 12-month period, from July 2009 through June 2010. This year’s plan will address a variety of issues, including recent legislation, the current economic environment, and important international issues, according to officials.
Some of the priorities involve the low-income housing tax credit (LIHTC) program and include:
*Final regulations under Sec. 42 on the requirements for a qualified contract.
*Guidance for the low-income housing credit under Sec. 42 relating to sections 1404 (Tax Credit Assistance Program) and 1602(Tax Credit Exchange Program) of the American Recovery Reinvestment Tax Act of 2009.
*Regulations concerning utility allowances under Sec. 42(g)(2)(B)(ii) for sub-metered buildings. Interim guidance was issued in Notice 2009-44.
For more information, click here http://www.irs.gov/pub/irs-utl/2009_-_2010_priority_guidance_plan.pdf
The plan contains 315 projects to be completed by the IRS over a 12-month period, from July 2009 through June 2010. This year’s plan will address a variety of issues, including recent legislation, the current economic environment, and important international issues, according to officials.
Some of the priorities involve the low-income housing tax credit (LIHTC) program and include:
*Final regulations under Sec. 42 on the requirements for a qualified contract.
*Guidance for the low-income housing credit under Sec. 42 relating to sections 1404 (Tax Credit Assistance Program) and 1602(Tax Credit Exchange Program) of the American Recovery Reinvestment Tax Act of 2009.
*Regulations concerning utility allowances under Sec. 42(g)(2)(B)(ii) for sub-metered buildings. Interim guidance was issued in Notice 2009-44.
For more information, click here http://www.irs.gov/pub/irs-utl/2009_-_2010_priority_guidance_plan.pdf
posted by Donna Kimura at 2:06 PM
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