IRS PLR: Low-Income Housing Credit Set-Aside Election Extension Granted (IRC §42)

The IRS has issued a private letter ruling on Section 42(g)(1)(C), granting the the taxpayer an extension of time to make the average income minimum set-aside election for their housing project. The taxpayer must file an amended Form 8609, Low-Income Housing Credit Allocation and Certification, within 120 days from the date of the letter to properly make the election. [PLR 202538014]

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