The Texas Department of Housing and Community Affairs (TDHCA) seeks to notify Owners and Agents of 4% Housing Tax Credit developments for which IRS Forms 8609 have not yet been issued that, as a result of the U.S. Tax Court decision in 23rd Chelsea Associates L.L.C. v. Commissioner of Internal Revenue, financing costs, including bond issuance costs, attributable to the construction period of a residential rental property may be included in eligible basis. At Cost Certification, the amount of bond issuance costs attributable to the construction period of the residential rental property must be confirmed by the independent auditor.
If you have any questions, please contact Rosalio Banuelos at (512) 475-3357 or via email at [email protected].