IRS Wants Your Take on New Markets Tax Credit Forms
Published Date: 5/12/2026
Notice
Summary
The IRS wants your thoughts on a new form about the New Markets Credit, which affects businesses using this tax credit. They’re checking if the info they collect is useful and not too much work. If you have ideas or concerns, send them by July 13, 2026—this could impact how businesses report and handle money related to this credit.
Analyzed Economic Effects
2 provisions identified: 0 benefits, 2 costs, 0 mixed.
CDEs Must Send Recapture Notices
Community Development Entities (CDEs) must use Form 8874-B (Notice of Recapture Event for New Markets Credit) to notify any taxpayer holder (including prior holders) that a recapture event has occurred, as required under Regulations section 1.45D-1(g)(2)(i)(B). The form is associated with OMB Control Number 1545-2066 and the IRS is seeking comment on the information collection by July 13, 2026.
Estimated Reporting Burden for Form 8874-B
The IRS estimates 500 responses to the Form 8874-B information collection, with each response taking about 5 hours 30 minutes, for an estimated total of 2,755 annual burden hours. The IRS is accepting written comments on this information collection through July 13, 2026.
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