Instructions for IRS Form 8609 Low-Income Housing Credit Allocation and Certification

IRS Form 8609 Low-Income Housing Credit Allocation and Certification

This document contains official instructions for IRS Form 8609 , Low-Income Housing Credit Allocation and Certification - a tax form released and collected by the Internal Revenue Service (IRS), a subdivision of the U.S. Department of the Treasury. An up-to-date fillable IRS Form 8609 is available for download through this link.

FAQ

Q: What is IRS Form 8609?A: IRS Form 8609 is a form used for Low-Income Housing Credit Allocation and Certification.

Q: What is the purpose of IRS Form 8609?A: The purpose of IRS Form 8609 is to claim the low-income housing credit for a qualified low-income housing project.

Q: Who needs to file IRS Form 8609?A: Owners or operators of qualified low-income housing projects need to file IRS Form 8609.

Q: What information is required on IRS Form 8609?A: IRS Form 8609 requires information about the project, the number of low-income units, and the amount of credit requested.

Q: When should IRS Form 8609 be filed?A: IRS Form 8609 should be filed before the close of the calendar year following the year the building was placed in service.

Q: Are there any fees associated with filing IRS Form 8609?A: There are no specific fees associated with filing IRS Form 8609, but there may be other costs involved in preparing the form.

Q: What happens after filing IRS Form 8609?A: After filing IRS Form 8609, the IRS will review the form and determine if the low-income housing credit can be allocated to the project.

Q: Are there any penalties for not filing IRS Form 8609?A: Yes, there may be penalties for not filing IRS Form 8609 or for providing false or incomplete information on the form.

Q: Can I amend IRS Form 8609 if I make a mistake?A: Yes, you can amend IRS Form 8609 if you discover an error or omission in the original form.