Instructions for Form DTF-625 Low-Income Housing Credit Allocation and Certification - New York

Form DTF-625 Low-Income Housing Credit Allocation and Certification - New York

This document contains official instructions for Form DTF-625 , Low-Income Housing Credit Allocation and Certification - a form released and collected by the New York State Department of Taxation and Finance. An up-to-date fillable Form DTF-625 is available for download through this link.

FAQ

Q: What is Form DTF-625?
A: Form DTF-625 is a form used for Low-Income Housing Credit Allocation and Certification in New York.

Q: Who needs to fill out Form DTF-625?
A: Developers or owners of low-income housing projects in New York need to fill out Form DTF-625.

Q: What is the purpose of Form DTF-625?
A: The purpose of Form DTF-625 is to apply for low-income housing tax credits in New York and certify that the project meets certain requirements.

Q: What information is required on Form DTF-625?
A: Form DTF-625 requires information about the low-income housing project, such as the number of units, income limits, and rent levels.

Q: Are there any fees associated with filing Form DTF-625?
A: There is no fee for filing Form DTF-625.

Q: When is the deadline for filing Form DTF-625?
A: The deadline for filing Form DTF-625 is typically March 1st of the year following the year in which the low-income housing project is placed in service.

Q: What happens after I file Form DTF-625?
A: After you file Form DTF-625, the New York State Department of Taxation and Finance will review your application and notify you of the credit amount allocated to your project.

Q: Can I make changes to Form DTF-625 once it is filed?
A: You cannot make changes to Form DTF-625 once it is filed. However, you can file an amended form if necessary.