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Recently, the IRS suspended certain requirements for qualified residential rental projects financed with tax-exempt bonds that are providing emergency housing for victims of Hurricane Sandy. IRS Notice 2013-9 temporarily suspends income limitations and the non-transient use requirement for the property. The IRS says Notice 2013-9 complements Notice 2012-68, which provides relief from certain requirements for residential rental projects financed with low-income housing tax credits.
