8823Form
(Rev. June 2023)
Department of the Treasury
Internal Revenue Service1LowIncome Housing Credit Agencies
Report of Noncompliance or Building Disposition OMB No. 15451204
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Instructions and Help about IRS 8823
How to edit IRS 8823
How to fill out IRS 8823
Instructions and Help about IRS 8823
How to edit IRS 8823
You can edit the IRS 8823 Tax Form using pdfFiller's online editing tools. Simply upload the existing form to the platform. Utilize the text and image editing capabilities to make necessary modifications. After editing, ensure to save the changes before downloading the updated version or submitting it directly through the platform.
How to fill out IRS 8823
To fill out IRS 8823, follow these steps:
01
Access the form through the IRS website or use pdfFiller to obtain a digital copy.
02
Accurately enter information regarding the property, including address and description.
03
Complete the sections pertaining to the taxpayer’s information and the details of the issue related to noncompliance.
04
Review all entries for accuracy before finalizing the form.
05
Save and prepare for submission either electronically or by mail.
Latest updates to IRS 8823
Latest updates to IRS 8823
It is crucial to stay updated on changes that may affect the IRS 8823 Tax Form, especially regarding legislative adjustments in real estate tax compliance. Regularly check the IRS website for any announcements or updates that could impact filing requirements or procedures for IRS 8823.
All You Need to Know About IRS 8823
What is IRS 8823?
What is the purpose of this form?
Who needs the form?
When am I exempt from filling out this form?
Components of the form
What are the penalties for not issuing the form?
What information do you need when you file the form?
Is the form accompanied by other forms?
Where do I send the form?
All You Need to Know About IRS 8823
What is IRS 8823?
IRS 8823 is a form utilized by owners of low-income housing tax credit properties to report any noncompliance issues regarding the property. This form is critical for ensuring that property owners maintain compliance with federal regulations associated with tax credits.
What is the purpose of this form?
The purpose of IRS 8823 is to notify the IRS about noncompliance with the requirements for the low-income housing tax credit. This includes various infractions such as failing to rent to eligible tenants or not maintaining the property according to standards. Accurate reporting assists in upholding the integrity of the tax credit program.
Who needs the form?
Landlords or property managers of low-income housing who have experienced noncompliance issues with their properties are required to file IRS 8823. This form is necessary for maintaining compliance with IRS regulations to continue benefiting from tax credits.
When am I exempt from filling out this form?
You may be exempt from filling out IRS 8823 if there are no noncompliance issues during the tax year. Additionally, if the property has fully complied with program requirements and there are no changes in its status, the form may not be necessary.
Components of the form
IRS 8823 consists of several key components, including:
01
Taxpayer information—name, address, and identification number.
02
Property information—address and description of the low-income housing.
03
Details of noncompliance—specific violations and the timeframe during which they occurred.
04
Certification and signature—acknowledgment of accuracy and authorization for submission.
What are the penalties for not issuing the form?
Failing to issue IRS 8823 when required can result in penalties, including loss of tax credits and potential fines. It is essential to submit this form accurately and on time to avoid complications with the IRS and eventual repercussions in tax filings.
What information do you need when you file the form?
When filing IRS 8823, gather the following information:
01
Taxpayer identification details, including name and PIN.
02
Property-related information, such as address and type of housing.
03
Specifics on noncompliance, including dates and nature of the issues.
04
Documentation supporting claims of noncompliance.
Is the form accompanied by other forms?
IRS 8823 may need to be accompanied by supporting documents that validate the noncompliance claims when filed. Depending on the specifics of the reported issues, additional related forms or schedules might also be required for complete reporting.
Where do I send the form?
Once completed, IRS 8823 should be sent to the appropriate IRS office as indicated in the form's instructions. This may vary based on the taxpayer's location and circumstances, so it is important to verify the correct mailing address before submission.
Use this catalog to find any type of IRS forms. We've gathered all of them under this section uncategorized to help you to find a proper form faster. Once you spot it on this list, have a look at the versions and schedules you might need as attachments. All returns are available for 2016 and for previous fiscal years.
