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Some Rental Assistance Payments Not Grants For Low-Income Housing Credit Purposes, IRS Rules.

DEC. 26, 2007

Rev. Rul. 2008-6; 2008-3 IRB 1

DATED DEC. 26, 2007
DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2007-28108
  • Tax Analysts Electronic Citation
    2007 TNT 248-4
Citations: Rev. Rul. 2008-6; 2008-3 IRB 1

 

Part I

 

 

Section 42. -- Low-Income Housing Credit

 

 

26 CFR 1.42-16: Eligible basis reduced by federal grants.

 

 

Pursuant to § 1.42-16(b)(3) of the Income Tax Regulations, the Internal Revenue Service has determined that certain rental assistance payments made to a building owner on behalf or in respect of a tenant under the Indian Housing Block Grant Program authorized by the Native American Housing Assistance and Self-Determination Act of 1996 (25 U.S.C. 4101 et seq.) are not grants made with respect to a building or its operation under § 42(d)(5) of the Internal Revenue Code. These rental assistance payments are provided under 24 C.F.R. 1000.103(b).

DRAFTING INFORMATION

The principal author of this revenue ruling is Christopher J. Wilson of the Office of Assistant Chief Counsel (Passthroughs and Special Industries). For further information regarding this revenue ruling contact Mr. Wilson on (202) 622-3040 (not a toll-free call).

DOCUMENT ATTRIBUTES
  • Institutional Authors
    Internal Revenue Service
  • Code Sections
  • Subject Area/Tax Topics
  • Jurisdictions
  • Language
    English
  • Tax Analysts Document Number
    Doc 2007-28108
  • Tax Analysts Electronic Citation
    2007 TNT 248-4
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