The Internal Revenue Service (IRS) issued updated guidance for completing Form 8823, the form used by State and Local LIHTC agencies to notify the IRS in the event of noncompliance or building disposition. The guidance updates the section on Items Excluded from Income (Miscellaneous) to reflect provisions issued in the Housing Opportunity Through Modernization Act (HOTMA) of 2016, which was designed to streamline administration and ease the burden on public housing authorities (PHAs), private owners of affordable housing and tenants.
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