IRS issues final regulations on allocating IRC Section 47 rehabilitation credit over five years

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September 15, 2020
2020-2244

The IRS has issued final regulations (TD 9915) clarifying how the rehabilitation credits for historic buildings under IRC Section 47, as modified by the Tax Cuts and Jobs Act (TCJA), must be allocated ratably over five years and coordinated with the investment credit. The final regulations adopted the proposed regulations without modification (see Tax Alert 2020-1402). A Tax Alert is forthcoming.

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