IRS written determination 201518011

Private letter rulings and published taxpayer determination letters. Native document type is retained separately; a determination letter is not labeled a private letter ruling. These taxpayer-specific releases cannot be used or cited as precedent under 26 USC 6110(k)(3); applicability and current legal force are not independently certified. Keep repeated UILC subjects attached to one actual numbered document.

Internal Revenue Service
Department of the Treasury
Washington, DC 20224
Number: 201518011
Release Date: 5/1/2015
Index Number: 42.00-00, 9100.01-00
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Third Party Communication: None
Date of Communication: Not Applicable
PersonTo Contact:
-----------, ID No. -----------------
Telephone Number:
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Refer Reply To:
CC:PSI:B05
PLR-133911-14
Date:
January 12, 2015
LEGEND
Taxpayer=--------------------------------------------------------------------------
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State=--------------------
Address=----------------------------------------------------------
BIN=------------------
Year 1=------
Year 2=------
Agency=-----------------------------------------------------------------------------------------
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Dear -----------------:
This letter responds to a letter dated September 2, 2014, and related
correspondence, submitted on behalf of Taxpayer, requesting an extension of time
pursuant to § 301.9100-1 of the Procedure and Administration Regulations to make an
election under § 42(f)(1) of the Internal Revenue Code.

PLR-133911-14
2
The information submitted states that Taxpayer owns and operates a single-
building low-income housing project in State. The project is located at Address and
identified by BIN. Taxpayer placed the building in service in Year 1. In Year 2, Agency
issued Taxpayer a Form 8609, Low-Income Housing Credit Allocation and Certification,
for the building. Taxpayer intended to start the credit period for the building in Year 2,
the year following the year the building was placed in service. However, the person
preparing Taxpayer’s return for Year 2 inadvertently checked the “No” box on line 10a of
the Form 8609 for the building, thus erroneously indicating that the credit period for the
building was to begin in Year 1, the year the building was placed in service. Consistent
with its intent, Taxpayer seeks an extension of time to make an election under § 42(f)(1)
to start the credit period for the building in Year 2.
Section 42(f)(1) defines “credit period” to mean, with respect to any building, the
period of 10 taxable years beginning with the taxable year in which the building is
placed in service, or at the election of the taxpayer, the succeeding taxable year, but in
either case only if the building is a qualified low-income building as of the close of the
first year of such period. The election, once made, is irrevocable.
Section 301.9100-8(b) provides that the election under §42(f)(1) generally must
be made for the taxable year in which the building is placed in service, or the
succeeding taxable year if the §42(f)(1) election is made to defer the start of the credit
period, andmust be made in the certification required to be filed pursuant to § 42(l)(1)
and (2). Section 301.9100-8(a)(4)(i) provides that the election under § 42(f)(1) is
irrevocable.
Section 1.42-1(h) provides, in part, that unless otherwise provided in forms or
instructions, a completed Form 8609 (or any successor form) must be filed by the
building owner with the IRS. The requirements for completing the Form 8609 are
provided in the instructions to the form.
Sections 301.9100-1(b) through 301.9100-3 provide the standards the
Commissioner will use to determine whether to grant an extension of time to make an
election.
Section 301.9100-1(b) defines the term “regulatory election” as including an
election whose due date is prescribed by a regulation publishedin the Federal Register,
or a revenue ruling, revenue procedure, notice, or announcement published in the
Internal Revenue Bulletin.
Under §301.9100-1(c), the Commissioner has discretion to grant a reasonable
extension of time under the rules set forthin §§301.9100-2 and 301.9100-3 to make a
regulatory election, or a statutory election (but no more than six months except in the
case of a taxpayer who is abroad), under all subtitles of the Code, except E, G, H, and I.

PLR-133911-14
3
Section 301.9100-2 provides automatic extensions of time for making certain
elections. Section 301.9100-3 provides extensions of time for making elections that do
not meet the requirements of § 301.9100-2.
Requests for relief under §301.9100-3(a) will be granted when the taxpayer
provides evidence (including affidavits described in § 301.9100-3(e)) to establish that
the taxpayer acted reasonably and in good faith, and that granting relief will not
prejudice the interests of the government.
In the instant case, based solely on the facts submitted and the representations
made, we conclude that the requirements of §§301.9100-1 and 301.9100-3 have been
met. Accordingly, Taxpayer is granted an extension of time to make the §42(f)(1)
election on Form 8609 to treat the credit period for the building located at Address and
identified by BIN, as beginning in Year 2. The election must be made by filing within
120 days from the date of this letter an amended Form 8609 that includes this intended
election. The amended Form 8609 (along with a copy of this letter) is to be sent to the
following address:
Department of the Treasury
Internal Revenue Service Center
Philadelphia, PA 19255-0549
A copy of this letter is enclosed for this purpose.
No opinion is expressed or implied regarding the application of any other
provisions of the Code or regulations. Specifically, we express no opinion on whether
the building located at Address and identified by BIN otherwise qualifies for credit under
§ 42.
This ruling is directed only to the taxpayer requesting it. Section 6110(k)(3)
provides that it may not be used or cited as precedent.
The ruling contained in this letter is based upon information and representations
submitted by Taxpayer and accompanied by a penalty of perjury statement executed by
an appropriate party. While this office has not verified any of the material submitted in
support of the request for rulings, it is subject to verification on examination.

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In accordance with the Power of Attorney on file with this office, copies of this
letter are being sent to your authorized representatives.
Sincerely,
Associate Chief Counsel
(Passthroughs & Special Industries)
By: _______________________
CHRISTOPHER J. WILSON
Senior Counsel, Branch 5
Office of Associate Chief Counsel
Enclosures (2)
Copy of this letter
Copy for §6110 purposes
cc: