IRS, Treasury Amend LIHTC Compliance-Monitoring Regulations

The Department of the Treasury and the Internal Revenue Service published final regulations that amend the compliance monitoring regulations concerning the low-income housing tax credit under section 42 of the Internal Revenue Code. These final regulations revise and clarify the requirement to conduct physical inspections and review low-income certifications and other documentation. The regulations are effective as of Feb. 26, 2019.