Federal Annual Low-Income Housing Credit Agencies Report
Extracted from PDF file 2019-federal-form-8610.pdf, last modified November 2019
Annual Low-Income Housing Credit Agencies ReportForm 8610 Annual Low-Income Housing Credit Agencies Report OMB No. 1545-0990 2019 ▶ Under Department of the Treasury Internal Revenue Service ▶ section 42(l)(3) of the Internal Revenue Code. Go to www.irs.gov/Form8610 for the latest information. Name of housing credit agency Employer identification number of agency Address of housing credit agency Check box if amended report . . . . . . ▶ FOR IRS USE ONLY Part I 1 2a Reconciliation of Attached Forms and Schedules Enter the number of attached Forms 8609 used to allocate credit in 2019 . . . . . . . . . . . . . . . . Enter the total number of attached Forms 8609 for credits (1) allocated prior to 2019 and (2) attributable under section 42(h)(4) to projects financed by tax-exempt bonds . . . . 1 2a b Enter the total dollar amount of credits attributable to projects financed by tax-exempt bonds as described in 2a(2) above ▶ $ 3 4 Enter the number of attached Schedules A (Form 8610) reporting 2019 carryover allocations . . . . . . . . . Total number of attached forms and schedules. Add lines 1, 2a, and 3 . . . . . . . . . . . . . . . . . . Part II 3 4 Reconciliation of Credit Ceilings and Allocations (see instructions) 5a b c d e f g Enter the larger of $2.75625 multiplied by the state’s population or $3,166,875 . . . . . . . . Enter the amount of credit ceiling returned in 2019 from allocations prior to 2019. See instructions . Enter the amount (if any) allocated to the state from the 2019 National Pool . . . . . . . . . Add lines 5a, 5b, and 5c . . . . . . . . . . . . . . . . . . . . . . . . . . Enter the unused state housing credit ceiling (if any) from the 2018 Form 8610, line 9 . . . . . . Total state housing credit ceiling for 2019. Add lines 5d and 5e . . . . . . . . . . . . Enter the total amount included on line 5f that was allocated during 2019 to qualified nonprofit organizations under section 42(h)(5). See instructions ▶ $ 6a Enter the total dollar amount of credits from Forms 8609 used to allocate credit in 2019 . . . . . . . . . . . . . . . . . . . . . 6a b Enter the total dollar amount of credits from Schedules A (Form 8610), line 5 6b c Total credits allocated during 2019. Add lines 6a and 6b (can’t exceed line 5f) . . . . . . . 7 Enter the smaller of line 5e or line 6c . . . . . . . . . . . . . . . . . . . . . . 8 Subtract line 7 from line 6c . . . . . . . . . . . . . . . . . . . . . . . . . 9 State’s unused housing credit ceiling carryover to 2020. Subtract line 8 from line 5d. If zero or less, enter -0- . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10 Unused 2018 carryover assigned to 2020 National Pool. Subtract line 7 from line 5e . . . . . Part III 5a 5b 5c 5d 5e 5f 6c 7 8 9 10 Compliance With Low-Income Housing Requirements (see instructions) 11 Does the state’s qualified allocation plan in effect for 2019 include compliance monitoring procedures as required in section 42(m)(1)(B)(iii) and Regulations section 1.42-5(a)(2), including monitoring for habitability standards through regular site visits? (If “No,” attach an explanation.) . . . . . . . . . . . . . Yes No 12 Has the housing credit agency, for 2019 (or its most recent 12-month operating period), complied with all applicable requirements under the compliance monitoring procedures in its qualified allocation plan? (If “No,” attach an explanation.) . . . . . . . . . . . . . . . . . . . . . . . . . . Yes No 13 Has the housing credit agency, for 2019 (or its most recent 12-month operating period), complied with the requirements of its monitoring procedures to fulfill its notification of noncompliance responsibilities under Regulations section 1.42-5(e)? (If “No,” attach an explanation.) . . . . . . . . . . . . . 14 Number of buildings subject to monitoring . . . . . . . . . . . . . . . . . . . . Number of buildings for which compliance monitoring was completed . . . . . . . . . . . 15 Yes No 14 15 Under penalties of perjury, I declare that I have examined this report and accompanying forms, schedules, binding agreements, and election statements, and other attachments, and to the best of my knowledge and belief, they are true, correct, and complete. Print Name and Title Cat. No. 63982F ▲ For Paperwork Reduction Act Notice, see instructions. ▲ ▲ Signature of Authorizing Official Date Form 8610 (2019) Page 2 Form 8610 (2019) General Instructions Section references are to the Internal Revenue Code unless otherwise noted. Future Developments For the latest information about developments related to Form 8610 and its instructions, such as legislation enacted after they were published, go to www.irs.gov/Form8610. What’s New The population component of the state housing credit ceiling for 2019 is the greater of $2.75625 times the state’s population or $3,166,875. Purpose of Form Housing credit agencies use Form 8610 to transmit Forms 8609, Low-Income Housing Credit Allocation and Certification, and Schedules A (Form 8610) to the IRS. Form 8610 is also used to report the dollar amount of housing credits allocated during the calendar year. The housing credit agency must not allocate more credits than it is authorized to allocate during the calendar year. Generally, the state housing credit ceiling for 2019 for any state is the sum of: 1. The larger of $3,166,875 or $2.75625 multiplied by the state’s population; 2. The amount of state housing credit ceiling returned in 2019 from allocations made prior to 2019; 3. The amount, if any, allocated to the state from the National Pool; plus 4. The unused state housing credit ceiling, if any, for 2018. See Regulations section 1.42-14 for more information. Who Must File Any housing credit agency authorized to make an allocation of the credit (even if no credit is actually allocated) on a Form 8609 or carryover allocation reported on a Schedule A (Form 8610) to an owner of a qualified low-income building during the calendar year must complete and file Form 8610. In states with multiple housing credit agencies (including states with constitutional home rule cities), the agencies must coordinate and file one Form 8610. If a housing credit agency has granted any project relief for carryover allocations discussed in section 6 of Rev. Proc. 2014-49, 2014-37 I.R.B. 535, the agency must attach to Form 8610 a copy of Schedule A (Form 8610) for each project for which it has approved relief. The attached copy of Schedule A (Form 8610) must have the box checked that indicates the housing credit agency granted carryover allocation relief under Rev. Proc. 2014-49. The housing credit agency should only include Schedules A (Form 8610) for projects receiving approval of the carryover allocation relief since the agency last filed Form 8610. The information from these particular Schedules A (Form 8610) isn’t included on any line in Part I or Part II of Form 8610. If a housing credit agency has granted any project relief to toll the beginning of the first year of the credit period as discussed in section 10 of Rev. Proc. 2014-49, the agency must attach to the Form 8610 filed for the calendar year in which the President declared the area a major disaster area a statement containing the following information: (1) the name, address, and TIN of the building owner; (2) the address of the building; (3) the building identification number (BIN); and (4) the agency-approved first year of the credit period. The statement should be labeled “Relief Under Section 10 of Rev. Proc. 2014-49.” The statement should be signed by an agency authorized official and a copy of the statement should be provided to the building owner. When To File File the 2019 Form 8610 with accompanying Forms 8609 (with only Part I completed) and Schedules A (Form 8610) by February 28, 2020. Where To File Send Form 8610 and attached forms and schedules to: Department of the Treasury Internal Revenue Service Center Philadelphia, PA 19255-0549 Penalty The $100 penalty under section 6652(j) applies to any failure to file Form 8610 when due. Specific Instructions Note: The primary housing credit agency may rely on information provided by any constitutional home rule city or local housing credit agency under Temporary Regulations section 1.42-1T(c)(3) or (4). To ensure that Form 8610 is correctly processed, attach all forms and schedules to Form 8610 in the following order. 1. Forms 8609. 2. Schedules A (Form 8610), not including those for projects approved for carryover allocation relief under Rev. Proc. 2014-49. 3. Schedules A (Form 8610) for projects approved for carryover allocation relief under Rev. Proc. 2014-49. Amended Report If this is an amended Form 8610, check the “amended report” box. Use the same version of the form that was originally filed (for example, a 2019 Form 8610 to amend the 2019 report, a 2018 Form 8610 to amend the 2018 report, etc.). Complete only those lines that are being amended by entering the correct information. Attach any additional documentation necessary to explain why an amended Form 8610 is being filed. Form 8610 (2019) Part I Line 1 Enter the total number of Forms 8609 attached to this Form 8610 that were used to allocate credit during 2019. Don’t include Forms 8609 issued to taxpayers that reflect credit allocations made prior to 2019 on section 42(h)(1)(E) or 42(h)(1)(F) carryover allocation documents. Line 2a Enter the total number of Forms 8609 attached to this Form 8610 for: • Credit allocations made prior to 2019 on section 42(h)(1)(E) or 42(h)(1)(F) carryover allocation documents, and • Credits attributable to projects financed by tax-exempt bonds subject to volume cap under section 42(h)(4). Part II Line 5a A state’s population is determined according to section 146(j). See Notice 2019-19, 2019-12 I.R.B. 907, for applicable population figures. Line 5b Don’t include on this line allocations made and returned in the same year. Line 5c Enter the “Amount Allocated,” if any, for your state in Rev. Proc. 2019-41, 2019-44 I.R.B. 1022. Line 5e If the 2018 Form 8610 was amended, enter the amount (if any) from the amended Form 8610, line 9. Line 5f This is the state housing credit ceiling available for allocations during 2019. Line 5g Not more than 90% of the line 5f amount is allowed to be allocated to projects other than qualified low-income housing projects described in section 42(h)(5)(B). Enter the sum of the following amounts. • Any amount reported on line 1b of an attached Form 8609 with box 6f checked. • Any amount reported on line 5 of an attached Schedule A (Form 8610) with question 3b answered “Yes.” Lines 6a and 6b Enter on the applicable line the dollar amount actually allocated during 2019. Don’t include the following. • Credits allowed to tax-exempt bond financed projects under section 42(h)(4). These credits don’t count against the total state housing ceiling authorized on line 5f. • Amounts allocated and returned during the year, unless such amounts are reallocated by the close of the year. Page 3 On line 6a, enter the total amounts reported on all Forms 8609, Part I, line 1b, that are included on line 1 of this Form 8610. On line 6b, enter the total amounts reported as carryover allocations that are included on line 3 of this Form 8610. Part III Line 14 Include all low-income buildings within the 15-year compliance period as of the end of the reporting year that were subject to compliance monitoring under Regulations section 1.42-5. Line 14 also includes buildings financed with tax-exempt bonds and by the Rural Housing Service. Line 15 Of the low-income buildings reported on line 14, enter the number of buildings that have been physically inspected and/or subjected to the sampling for unit inspections and tenant file reviews at least once in the last 3 years. Consider the physical inspections and tenant file reviews completed if the owner has been provided notice of the results. Caution: If line 15 doesn’t equal line 14, attach an explanation. Paperwork Reduction Act Notice We ask for the information on this form to carry out the Internal Revenue laws of the United States. You are required to give us the information. We need it to ensure that you are complying with these laws and to allow us to figure and collect the right amount of tax. You are not required to provide the information requested on a form that is subject to the Paperwork Reduction Act unless the form displays a valid OMB control number. Books or records relating to a form or its instructions must be retained as long as their contents may become material in the administration of any Internal Revenue law. Generally, tax returns and return information are confidential, as required by section 6103. The time needed to complete and file the following forms will vary depending on individual circumstances. The estimated average times are: Recordkeeping . . . Form 8610 Sch. A (Form 8610) . 7 hr., 39 min. 3 hr., 49 min. Learning about the law or the form . . . . . . 1 hr., 59 min. 24 min. Preparing and sending the form to the IRS . . . . 2 hr., 12 min. 28 min. If you have comments concerning the accuracy of these time estimates or suggestions for making this form simpler, we would be happy to hear from you. You can send us comments from www.irs.gov/FormComments. Or you can write to the Internal Revenue Service, Tax Forms and Publications Division, 1111 Constitution Ave. NW, IR‐6526, Washington, DC 20224. Don’t send the form to this office.
2019 Form 8610
More about the Federal Form 8610 Other Tax Credit TY 2019
We last updated the Annual Low-Income Housing Credit Agencies Report in February 2020, so this is the latest version of Form 8610, fully updated for tax year 2019. You can download or print current or past-year PDFs of Form 8610 directly from TaxFormFinder. You can print other Federal tax forms here.
Related Federal Other Forms:
|Form Code||Form Name|
|8610 (Schedule A)||Carryover Allocation of Low-Income Housing Credit|
The Internal Revenue Service usually releases income tax forms for the current tax year between October and January, although changes to some forms can come even later. We last updated Federal Form 8610 from the Internal Revenue Service in February 2020.
Form 8610 is a Federal Other form. States often have dozens of even hundreds of various tax credits, which, unlike deductions, provide a dollar-for-dollar reduction of tax liability. Some common tax credits apply to many taxpayers, while others only apply to extremely specific situations. In most cases, you will have to provide evidence to show that you are eligible for the tax credit, and calculate the amount of the credit to which you are entitled.
Historical Past-Year Versions of Federal Form 8610
We have a total of nine past-year versions of Form 8610 in the TaxFormFinder archives, including for the previous tax year. Download past year versions of this tax form as PDFs here:
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