Fillable Form 8610 - Annual Low-Income Housing Credit Agencies Report

Form 8610 (2014)

Page

General Instructions

If a housing credit agency has granted any project relief for

carryover allocations discussed in section 5 of Rev. Proc.

Section references are to the Internal Revenue Code unless

2007-54, 2007-31 I.R.B. 293, the agency must attach to

otherwise noted.

Form 8610 a copy of the Schedule A (Form 8610) for the

projects for which it has approved relief. These attached

Future Developments

copies of Schedule A (Form 8610) must have the box

checked that indicates the housing credit agency granted

For the latest information about developments related to

carryover allocation relief under Rev. Proc. 2007-54. The

Form 8610 and its instructions, such as legislation enacted

housing credit agency should only include Schedules A

after they were published, go to

(Form 8610) for projects receiving approval of the carryover

What’s New

allocation relief since the agency last filed Form 8610. The

information from these particular Schedules A (Form 8610)

The population component of the state housing credit ceiling

are not included on any line in Part I or Part II of Form 8610.

for 2014 is the greater of $2.30 times the state’s population

If a housing credit agency has granted any project relief to

or $2,635,000.

toll the beginning of the first year of the credit period as

In addition, certain states are able to increase their

discussed in section 9 of Rev. Proc. 2007-54, the agency

housing credit ceiling. The guidelines for these increases are

must attach to the Form 8610 filed for the calendar year in

explained in Credit ceiling increases, under Purpose of Form,

which the President declared the area a major disaster area

below.

a statement containing the following information: (1) the

Under Who Must File, we added a description of

name, address, and TIN of the building owner; (2) the

documentation required when an agency provides tolling

address of the building; (3) the building identification number

relief for certain buildings located in a major disaster area.

(BIN); and (4) the agency approved first year of the credit

period. The statement should be labeled “Relief Under

Purpose of Form

Section 9 of Rev. Proc. 2007-54.” The statement should be

signed by an agency authorized official and a copy of the

Housing credit agencies use Form 8610 to transmit Forms

statement should be provided to the building owner.

8609, Low-Income Housing Credit Allocation and

Certification, and Schedules A (Form 8610) to the IRS. Form

When To File

8610 is also used to report the dollar amount of housing

File the 2014 Form 8610 with accompanying Forms 8609

credits allocated during the calendar year. The housing

(with only Part I completed) and Schedules A (Form 8610) by

credit agency must not allocate more credits than it is

March 2, 2015.

authorized to allocate during the calendar year.

Generally, the state housing credit ceiling for 2014 for any

Where To File

state is the sum of:

File Form 8610 and attached forms and schedules with:

1. The larger of $2,635,000 or $2.30 multiplied by the

Department of the Treasury

state’s population,

Internal Revenue Service Center

2. The amount of state housing credit ceiling returned in

Philadelphia, PA 19255-0549

2014 from allocations made prior to 2014,

Penalty

3. The amount, if any, allocated to the state from the

The $100 penalty under section 6652(j) applies to any failure

National Pool, plus

to file Form 8610 when due.

4. The unused state housing credit ceiling, if any, for 2013.

Specific Instructions

See Regulations section 1.42-14 for more information.

Credit ceiling increases. In the following situations, the

Note. The primary housing credit agency may rely on

housing credit ceiling for certain states will increase.

information provided by any constitutional home rule city or

local housing credit agency under Temporary Regulations

For 2014, the housing credit ceiling for Arkansas, Illinois,

section 1.42-1T(c)(3) or (4).

Indiana, Iowa, Missouri, Nebraska, and Wisconsin is

increased by the Midwestern disaster area credits allocated

To ensure that Form 8610 is correctly processed, attach

in 2008, 2009, or 2010 that were both returned and

all forms and schedules to Form 8610 in the following order.

reallocated in the Midwestern disaster area in 2014. See Line

1. Forms 8609.

5a, later.

2. Schedules A (Form 8610), not including those for

For 2014, the housing credit ceiling for Louisiana and

projects approved for carryover allocation relief under Rev.

Texas is increased by the Hurricane Ike disaster area credits

Proc. 2007-54.

allocated in 2008, 2009, or 2010 that were both returned and

reallocated in the Hurricane Ike disaster area in 2014. See

3. Schedules A (Form 8610) for projects approved for

Line 5a, later.

carryover allocation relief under Rev. Proc. 2007-54.

Who Must File

Amended Report

If this is an amended Form 8610, check the “amended report”

Any housing credit agency authorized to make an allocation

box. Use the same version of the form that was originally filed

of the credit (even if no credit is actually allocated) on a Form

(for example, a 2014 Form 8610 to amend the 2014 report, a

8609 or carryover allocation reported on a Schedule A (Form

2013 Form 8610 to amend the 2013 report, etc.).

8610) to an owner of a qualified low-income building during

the calendar year must complete and file Form 8610. In

Complete only those lines that are being amended by

states with multiple housing credit agencies (including states

entering the correct information. Attach any additional

with constitutional home rule cities), the agencies must

documentation necessary to explain why an amended Form

coordinate and file one Form 8610.

8610 is being filed.

Form 8610 - Annual Low-Income Housing Credit Agencies Report - 2014 Page 2

Related Articles

Related forms

Related Categories