IRS Expands Housing Tax Credits After California Wildfires

The IRS is expanding low-income housing credit for disaster relief to California individuals affected by destructive wildfires last year in Butte, Los Angeles, and Ventura counties.

The IRS released a notice Sept. 17 which allows the state committee that administers federal and state low-income housing tax credits to extend the date of its compliance review of credits in the three counties to either Nov. 25, or one year after the date of a building’s restoration and placement back into service.

• The notice does not indicate either the expansion cost or how many individuals could qualify for relief. The 2018 California ...