Texas Administrative Code
Title 10 - COMMUNITY DEVELOPMENT
Part 1 - TEXAS DEPARTMENT OF HOUSING AND COMMUNITY AFFAIRS
Chapter 10 - UNIFORM MULTIFAMILY RULES
Subchapter F - COMPLIANCE MONITORING
Section 10.603 - Notices to the Internal Revenue Service (HTC Developments during the Compliance Period)
Current through Reg. 50, No. 13; March 28, 2025
(a) Even when an Event of Noncompliance is corrected, the Department is required to file IRS Form 8823 with the IRS. When required, IRS Form 8823 generally will be filed not later than 45 days after the end of the correction period specified in the Notice to Owner (including any extensions permitted by the Department), but will not be filed before the end of the correction period. The Department will indicate on IRS Form 8823 the nature of the noncompliance and will indicate whether the Development Owner has corrected the noncompliance.
(b) The Department will retain records of noncompliance for six years beyond the Department's filing of the respective IRS Form 8823.
(c) The Department will send the Owner of record copies of any IRS Forms 8823 submitted to the IRS.
