The IRS’ draft audit technique guide for Internal Revenue Code (IRC) 42 is now available on the NAHMA LIHTC webpage. This audit technique guide was prepared to assist IRS examiners in auditing partnerships that own IRC §42 low-income housing projects. The guide is organized in the order an examiner might address issues during an audit, generally working from high-level issues to issues requiring more detailed analysis, and chronologically from the Pre-contact Analysis through Report Writing. Two related topics, auditing partners and completing the Examination of Income, are also addressed. The audit technique guide is being distributed for review and comment. This draft may not be cited as authority. To view the guide, please click here.