Today, Treasury and the IRS released corrections to proposed regulations (REG-109822-15) issued in December 2015. The proposed regulations would require annual country-by-country reporting by United States persons that are the ultimate parent entity of a multinational enterprise group.
Revenue Procedure 2016-15 sets forth, for purposes of Treas. Reg. § 1.142-5T(c)(2)(iii)(B), the minimum number of low-income units in a low-income housing project for which a state or local housing credit agency must conduct physical inspections and low-income certification reviews.