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IRS extension of compliance and inspection waivers in January 2022

January 11, 2022 - The IRS issued an Advance Notice today that will be published in their Friday Bulletin.  This contains critical changes, including waiver extensions, for affordable housing property operators and agencies. 

This is the bottom line.  Physical Inspection waivers are again extended and this time until June 30, 2022.  Adding to this is that state agencies are now also given discretion to extend this waiver until the end of 2022 on their own if they deem it necessary and after consultation with local public health officials.  The standard 15-day notice to properties is loosened to 30 days and this is in effect up through 2022.

For file reviews, remember that these must still be completed, but the required 15-day notice is also loosed to 30 days and this is in place until the end of 2022.

This is the bottom line on the IRS notice.  This is the fully story on all impacts of this notice and background.

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