Department of the Treasury-Internal Revenue Service                           In reply refer to
  Form 921-P               Consent Fixing Period of Limitation on Assessment of 
  (April 2015)                                         Income and Profits Tax                                             Taxpayer Identification 
                                                                                                                          Number(s)
                                            (Partnerships and Limited Liability Companies) 
                            Estimated Future Common Expense Allowance for Real Estate Sales Under Contract
For income or profits tax purposes, the Commissioner of Internal Revenue has tentatively allowed

                                                       (Entity Name)
a                                                                                                                         , whose address is
                                            (Partnership, Limited Liability Company, Etc.)
                                                                                                                          , to consider in whole
                                            (Number, Street, City or Town, State, ZIP Code)
or in part the estimated cost of future common improvements as part of the cost or other basis of certain real estate sold 
or otherwise disposed of under contract. Real Estate Project covered by this consent agreement:

As a provision of this tentative allowance, the undersigned taxpayer, a Tax Matters Partner of the entity named above, 
and the Commissioner of Internal Revenue agree that:
The amount of any federal income tax due with respect to all partners attributable to partnership items resulting from this 
tax treatment for the specified project for the above named partnership for tax year(s) ended

                                                                                                                          may be assessed
at any time before and up to one year after a return is filed for tax year ended                                                            .
                                                                         (Ending Date for Tax Year of Expected Project Completion)
A return filed before the expected project completion date shall be considered filed on the day prescribed above without. 
regard to extensions. This consent agreement to extend the time to assess tax is limited to the assessment of deficiencies 
attributable to the use of the alternative cost method with respect to the real estate project described above. If a notice of 
Final Partnership Administrative Adjustment is mailed to the Tax Matters Partner, the time for assessing the tax for the 
period(s) stated in the notice of Final Partnership Administrative Adjustment shall be suspended for the period during which 
an action may be brought under 6226 of the Internal Revenue Code (and, if an action with respect to such administrative 
adjustment is brought during such period until the decision of the court in such action becomes final) and for 1 year 
thereafter.
            THIS CONSENT AGREEMENT DOES NOT DEPRIVE THE TAXPAYER(S) OF ANY 
                 APPEAL RIGHTS TO WHICH THEY WOULD OTHERWISE BE ENTITLED.
Partnership name

Under penalties of perjury, I declare that I am not currently in bankruptcy nor have I previously been named as a debtor in 
a bankruptcy proceeding in which the United States could have filed a claim for income tax due with respect to any 
partnership taxable year covered by this consent.
Tax Matters Partner’s name (type or print)             Tax Matters Partner’s signature                                    Date

Authorized Person’s name (type or print)               Authorized Person’s signature                                      Date

                      (You must also attach written authorization as stated in the instructions on the back of this form.)
                                      INTERNAL REVENUE SERVICE SIGNATURE AND TITLE
IRS Official’s name - See Instructions (type or print) IRS Official’s Title - See Instructions

IRS Official’s Signature - See Instructions                                                                               Date

Catalog Number 32811X      (See back of form for signature instructions) www.irs.gov                      Form 921-P (Rev. 4-2015)

                                                                                                                   Page 2

                                        Instructions for Taxpayer(s)
Please sign and return the original and copy of Form 921-P, Consent Fixing Period of Limitation On Assessment of 
Income and Profits Tax, to apply for a consent in accordance with Revenue Procedure 92-29 and its successors.  
  
1.  The consent generally applies to partnership returns filed for partnership tax years beginning after September 3, 1982. 
  Other entities (those not subject to the unified audit and litigation procedures for TEFRA partnerships) must 
  use Form 921-I.  
  
2.  The consent may be signed for the partnership in the appropriate space by either: a. The Tax Matters Partner for the 
  partnership for the year(s) covered by the consent, or b. any other person authorized by the partnership in writing to 
  sign the consent (see item 5 below).  
  
3.  If the Tax Matters Partner is not an individual and the consent is signed by a person acting in a representative capacity 
  for the Tax Matters Partner, for example, the trustee of a trust, the declaration above the signature line for the Tax 
  Matters Partner refers to the bankruptcy of the Tax Matters Partner, not the person who actually signed the consent.  
  
4.  If the Tax Matters Partner has filed a joint return with his or her spouse for the taxable years(s) covered by the consent 
  and the consent is signed by the Tax Matters Partner, the declaration above the signature line for the Tax Matters 
  Partner refers to the bankruptcy of either spouse, not just to the person who actually signed the consent.  
  
5.  If the consent is signed by any person other than the Tax Matters Partner, a copy of the written authorization from the 
  partnership must be attached to the consent. The information that must be included in the authorization is described in 
  Temporary Regulations 301.6229(b)-l and is listed below. The written authorization must:  
  
  a.  Provide that it is an authorization for a person other than the Tax Matters Partner to extend the assessment period 
    with respect to all partners.  
    
  b.  Identify the partnership and the person being authorized by name, address, and taxpayer identification number.  
    
  c.  Specify the partnership tax year or years for which the authorization is effective, and  
    
  d.  Include the signatures of all persons who were general partners at any time during the year or years for which the 
    authorization is effective.

                        Instructions for Internal Revenue Service Employees
Complete the delegated IRS official’s name and title of the employee who is signing the form on behalf of the IRS. 
 
An IRS official delegated authority under Delegation Order 25-2 must sign and date the consent. (IRM 1.2.52.3) 

Catalog Number 32811X                   www.irs.gov                                            Form 921-P (Rev. 4-2015)