8823's
Re: 8823's
(question was submitted by admin to share an emailed question)
To my knowledge, 8823s are submitted for tax credit inspections only. LIHTC (low income housing tax credit) inspections have been combined with REAC inspections, so a REAC inspection that counts as a LIHTC inspection will result in issuance of 8823s. In other words – the REAC inspection may generate an
8823 that gets submitted to the IRS. You are not required to submit your 8823s to your REAC inspector – I’m not sure what you mean by “as they are for Management Reviews.” If you mean that you have to give your MOR rep any 8823s that were issued or cleared, then no… you do not have to submit an 8823 to the inspector at the time of a REAC.
To my knowledge, 8823s are submitted for tax credit inspections only. LIHTC (low income housing tax credit) inspections have been combined with REAC inspections, so a REAC inspection that counts as a LIHTC inspection will result in issuance of 8823s. In other words – the REAC inspection may generate an
8823 that gets submitted to the IRS. You are not required to submit your 8823s to your REAC inspector – I’m not sure what you mean by “as they are for Management Reviews.” If you mean that you have to give your MOR rep any 8823s that were issued or cleared, then no… you do not have to submit an 8823 to the inspector at the time of a REAC.