The IRS also issued Notice 2022-52, which extends placed-in-service (PIS) deadlines by one year for allocations starting in 2019. It extends the reasonable restoration period in the event of casualty loss by 24 months and extends the correction period by 12 months. The notice also extends the ability for housing finance agencies (HFAs) to waive compliance monitoring for physical inspections and extends the notice period from 15 to 30 days through the end of 2022.
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