The IRS released an advance version of Rev. Proc. 2022-21 that provides issuers of qualified mortgage bonds, as defined in section 143(a), and issuers of mortgage credit certificates, as defined in section 25(c), with Nationwide average purchase prices for residences located in the United States and average area purchase price safe harbors for residences located in statistical areas in each state, the District of Columbia, Puerto Rico, the Northern Mariana Islands, American Samoa, the Virgin Islands, and Guam.
See Rev. Proc. 2022-21 by clicking here.
See more information on Rev. Proc. 2022-21 by clicking here.
Posted by Jessica Ji, Associate Editor, Wealth Strategies Journal.