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Sometimes a site owner must give back tax credits that it claimed in previous years of the credit period. To do this, owners fill out IRS Form 8611: Recapture of Low-Income Housing Credit and file it with the tax return. The IRS will then recapture part of the tax credits the owner claimed in previous years if the property is disposed of or if it fails to meet certain requirements over a 15-year compliance period and a bond is not posted.
