15 CAR § 86-602 – Recapture of tax credits

(a) The most serious action the Internal Revenue Service can take against an ownership is the recapture of credits previously claimed.
(b)
1. (1) Only the Internal Revenue Service determines this course of action.
2. (2) The Arkansas Development Finance Authority does not determine the consequences of reported noncompliance.
(c) If the owner discovers at any time that credits have been claimed in error, miscalculated, or the basis was incorrectly listed, the owner must complete Internal Revenue Service Form 8611.