Type:Proposed Rule
Citation:86 FR 8721
Reading Time:about a minute or two
The Internal Revenue Service (IRS) announced a correction to its proposed regulations on the average income test related to the low-income housing credit. A public hearing on these regulations will be held via teleconference on March 24, 2021. Interested individuals must submit their speaking topics by March 5, 2021, or the hearing will be canceled. The error corrected involves a regulation identification number in a previous publication of the proposed rule.
Simple Explanation
The IRS is fixing a mix-up with their rules about making homes cheaper for people with lower incomes. They want to talk about it on a phone meeting in March, but they need to hear from people who want to join by early March, or they will cancel the meeting.