IRS Allows LIHTC Partnerships to Amend Tax Returns

The IRS recently released Revenue Procedure 2020-23, which allows the amending of Bipartisan Budget Act (BBA) partnership tax returns once Form 8609s are received for 2018 tax returns, as long as the partnership files an amended return by Sept. 30, 2020. In other words, the IRS guidance allows partnership tax returns to be amended as long as those amendments are submitted by Sept. 30.