IRS Issues PLR Granting Extension for Rehabilitation Credit Lessee Election

The IRS has issued a private letter ruling on I.R.C. §47 and Treas. Reg. §301.9100 granting taxpayer a 120-day extension to make a §1.48-4 election allowing a lessee to be treated as having purchased property for rehabilitation credit purposes. [PLR 202614027]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.