This announcement is to advise housing credit agencies and building
owners of changes reflected in the December 2005 revision of Form 8609, Low-Income
Housing Credit Allocation and Certification, and to inform claimers
of the low-income housing credit of new Form 8609-A, Annual Statement
for Low-Income Housing Credit.
Form 8609—Housing Credit Agencies
Generally, the December 2005 revision of Form 8609 is to be used for
allocations made in 2005 or later. In the case of carryover allocations, the
December 2005 revision of Form 8609 is to be used for buildings placed in
service in 2005 or later. In the case of buildings financed with tax-exempt
bonds, the December 2005 revision of Form 8609 is to be used for bonds issued
or buildings placed in service in 2005 or later. However, if for 2005 the
housing credit agency used the November 2003 revision of Form 8609, the housing
credit agency does not have to issue an amended Form 8609.
Form 8609—Building Owners
With the December 2005 revision, Form 8609 is no longer attached to
the building owner’s tax return for each year of the 15-year compliance
period. Instead, the building owner will make a one-time submission of the
appropriate revision of Form 8609 to the Low-Income Housing Credit Unit at
the IRS Philadelphia campus. This one-time submission must take place by the
due date (including extensions) of the first tax return with which the building
owner is filing Form 8609-A. This one-time submission must be made even if
the building owner has filed Form 8609 with a prior tax return.
The procedures are explained in detail on the December 2005 revision
of Form 8609. Follow the submission instructions set forth in the December
2005 revision that correspond with the revision date found on the Form 8609
that the housing credit agency sent to you. The December 2005 revision of
Form 8609 (including instructions) can be found at www.irs.gov.
Although a housing credit agency may have used the November 2003 revision
of Form 8609 for 2005, the building owner still must follow the submission
procedures detailed in the instructions on the December 2005 revision.
For tax years beginning after 2004, Form 8609-A replaces Schedule A
(Form 8609), Annual Statement. Please see Form 8609-A
for detailed instructions on completing and filing the form.
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