Today The Internal Revenue Service (IRS) updated its Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition.

State and local housing agencies are required to monitor Low Income Housing Tax Credit (LIHTC) projects during the compliance period.  If noncompliance is identified or there has been disposition of a building, the housing agency  will notify IRS using Form 8823.  Prevent  noncompliance issues by familiarizing yourself with the guide!