IRS Grants Extension to Make Minimum Set-Aside Election

IRS Grants Extension to Make Minimum Set-Aside Election



Facts: An owner of a multiple building project requested an extension of time to make the minimum set-aside election under Section 42(g)(1)(B) of the Internal Revenue Code. The owner elected on Form 8609, Low-Income Housing Credit Allocation and Certification, to begin the credit period for the site buildings in Year 1. The owner inadvertently failed to make timely, correct elections for the project buildings under Section 42(g)(1).

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