UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 20549

                                    FORM 10-Q

(Mark One)


  X       QUARTERLY  REPORT  PURSUANT  TO SECTION 13 OR 15(d)OF  THE  SECURITIES
-----     EXCHANGE ACT OF 1934

For the quarterly period ended June 30, 2004

                                       OR

          TRANSITION  REPORT  PURSUANT TO SECTION 13 OR 15(d) OF THE  SECURITIES
-----     EXCHANGE ACT OF 1934

                         Commission File Number 33-89968

                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                      ------------------------------------
             (Exact name of registrant as specified in its charter)

          Delaware                                               13-3809869
-------------------------------                             --------------------
(State or other jurisdiction of                             (I.R.S. Employer
incorporation or organization)                               Identification No.)

625 Madison Avenue, New York, New York                                10022
--------------------------------------                            --------------
(Address of principal executive offices)                            (Zip Code)

Registrant's telephone number, including area code (212)421-5333

     Indicate  by check mark  whether the  registrant  (1) has filed all reports
required to be filed by Section 13 or 15(d) of the  Securities  Exchange  Act of
1934  during  the  preceding  12 months  (or for such  shorter  period  that the
registrant was required to file such reports),  and (2) has been subject to such
filing requirements for the past 90 days. Yes  X  No
                                             -----  -----

       Indicate by check mark whether the registrant is an accelerated filer (as
defined in Rule 12b-2 of the Act).
Yes     No  X
   -----  -----


<PAGE>


                         PART I - FINANCIAL INFORMATION

Item 1.  Financial Statements

                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                      Consolidated Condensed Balance Sheets

<TABLE>
<CAPTION>
                                                   ===========       ===========
                                                     June 30,          March 31,
                                                       2004              2004
                                                   -----------       -----------
                                                   (Unaudited)
ASSETS
<S>                                                <C>             <C>
Property and equipment - at cost,
  net of accumulated depreciation
  of $14,930,352 and $14,320,391,
  respectively                                     $66,423,755       $67,033,716
Cash and cash equivalents                            1,742,839         1,730,897
Cash held in escrow                                  3,278,985         3,292,937
Deferred costs, net of accumulated
  amortization of $490,495 and
  $472,279, respectively                               688,621           706,837
Other assets                                           514,796           527,773
                                                   -----------       -----------
Total assets                                       $72,648,996       $73,292,160
                                                   ===========       ===========


</TABLE>


                                       2
<PAGE>




                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                      Consolidated Condensed Balance Sheets
                                  (continued)

<TABLE>
<CAPTION>
                                                 ============      ============
                                                    June 30,         March 31,
                                                     2004              2004
                                                 ------------      ------------
                                                   (Unaudited)
<S>                                              <C>               <C>
LIABILITIES AND PARTNERS' CAPITAL (DEFICIT)
Liabilities:
  Mortgage notes payable                         $ 36,240,698      $ 36,312,132
  Accounts payable and other
   liabilities                                      8,413,845         8,239,856
  Due to local general partners and
   affiliates                                       2,089,500         2,116,876
  Due to general partner and affiliates             2,271,972         2,143,413
                                                 ------------      ------------
Total liabilities                                  49,016,015        48,812,277
                                                 ------------      ------------

Minority interest                                   1,893,426         1,925,663
                                                 ------------      ------------

Partners' capital (deficit):
  Limited partners (45,844 BACs
   issued and outstanding)                         21,929,694        22,736,212
  General partner                                    (190,139)         (181,992)
                                                 ------------      ------------
Total partners' capital (deficit)                  21,739,555        22,554,220
                                                 ------------      ------------
Total liabilities and partners'
  capital (deficit)                              $ 72,648,996      $ 73,292,160
                                                 ============      ============

</TABLE>

The  accompanying  notes are an integral  part of these  consolidated  condensed
financial statements.



                                       3
<PAGE>



                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                 Consolidated Condensed Statements of Operations
                                   (Unaudited)
<TABLE>
<CAPTION>
                                                    ===========================
                                                         Three Months Ended
                                                              June 30,
                                                    ---------------------------
                                                       2004            2003
                                                    ---------------------------
<S>                                                 <C>             <C>
Revenues
Rental income                                       $ 1,434,879     $ 1,455,707
Other income (principally interest income)               45,979          46,957
                                                    -----------     -----------
Total revenues                                        1,480,858       1,502,664
                                                    -----------     -----------

Expenses
General and administrative                              414,478         381,743
General and administrative-related parties              154,647         159,391
Repairs and maintenance                                 221,223         238,393
Operating                                               210,249         195,182
Taxes                                                    47,662          48,487
Insurance                                               107,780          86,192
Interest                                                516,368         541,952
Depreciation and amortization                           628,177         632,492
                                                    -----------     -----------
Total expenses                                        2,300,584       2,283,832
                                                    -----------     -----------

Loss before minority interest                          (819,726)       (781,168)
Minority interest in loss of subsidiary
  partnerships                                            5,061           4,721
                                                    -----------     -----------
Net loss                                            $  (814,665)    $  (776,447)
                                                    ===========     ===========

Net loss - limited partners                         $  (806,518)    $  (768,683)
                                                    ===========     ===========

Number of BACs outstanding                               45,844          45,844
                                                    ===========     ===========

Net loss per BAC                                    $    (17.59)    $    (16.77)
                                                    ===========     ===========

</TABLE>
The  accompanying  notes are an integral  part of these  consolidated  condensed
financial statements.


                                       4
<PAGE>



                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
            Consolidated Condensed Statement of Changes in Partners'
                                Capital (Deficit)
                    For the Three Months Ended June 30, 2004
                                   (Unaudited)

<TABLE>
<CAPTION>
                                 ==============================================
                                                    Limited          General
                                    Total           Partners         Partner
                                 ----------------------------------------------
<S>                              <C>              <C>               <C>
Partners' capital
  (deficit) - April 1,
  2004                           $ 22,554,220     $ 22,736,212     $   (181,992)

Net loss                             (814,665)        (806,518)          (8,147)
                                 ------------     ------------     ------------

Partners' capital
  (deficit) -
  June 30, 2004                  $ 21,739,555     $ 21,929,694     $   (190,139)
                                 ============     ============     ============

</TABLE>
The  accompanying  notes are an integral  part of these  consolidated  condensed
financial statements.


                                       5
<PAGE>



                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                 Consolidated Condensed Statements of Cash Flows
                                   (Unaudited)

<TABLE>
<CAPTION>
                                                  =============================
                                                        Three Months Ended
                                                             June 30,
                                                  -----------------------------
                                                      2004             2003
                                                  -----------------------------
<S>                                               <C>               <C>
Cash flows from operating activities:
Net loss                                          $  (814,665)      $  (776,447)
                                                  -----------       -----------
Adjustments to reconcile net loss
  to net cash provided by
   operating activities:
Depreciation and amortization                         628,177           632,492
Minority interest in loss of
  subsidiary partnerships                              (5,061)           (4,721)
Increase in cash held in escrow                       (33,609)         (193,854)
Decrease (increase) in other assets                    12,977          (115,785)
Increase in accounts payable
  and other liabilities                               173,989           631,342
Increase in due to local general
  partners and affiliates                               7,358            11,904
Decrease in due to local general
  partners and affiliates                             (11,309)           (5,516)
Increase in due to general
  partner and affiliates                              128,559           108,106
                                                  -----------       -----------
  Total adjustments                                   901,081         1,063,968
                                                  -----------       -----------

Net cash provided by
  operating activities                                 86,416           287,521
                                                  -----------       -----------

</TABLE>

                                       6
<PAGE>



                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                 Consolidated Condensed Statements of Cash Flows
                                   (Unaudited)
                                   (continued)


<TABLE>
<CAPTION>
                                                     ==========================
                                                         Three Months Ended
                                                              June 30,
                                                     --------------------------
                                                        2004           2003
                                                     --------------------------
<S>                                                  <C>            <C>
Cash flows from investing activities:
Increase in property and equipment                             0         (1,727)
Decrease in cash held in escrow                           47,561         17,213
Increase in due to local general
  partners and affiliates                                      0             98
Decrease in due to local general
  partners and affiliates                                (23,425)      (110,194)
                                                     -----------    -----------
Net cash provided by (used in) investing
  activities                                              24,136        (94,610)
                                                     -----------    -----------

Cash flows from financing activities:
Principal reduction of mortgage notes                    (71,434)      (263,521)
Decrease in capitalization of
  consolidated subsidiaries
  attributable to minority interest                      (27,176)             0
                                                     -----------    -----------
Net cash used in financing
  activities                                             (98,610)      (263,521)
                                                     -----------    -----------

Net increase (decrease) in cash and
  cash equivalents                                        11,942        (70,610)
Cash and cash equivalents at
  beginning of period                                  1,730,897      2,037,966
                                                     -----------    -----------
Cash and cash equivalents at
  end of period                                      $ 1,742,839    $ 1,967,356
                                                     ===========    ===========

Supplemental disclosure of cash flow information:
Cash paid during period for
  interest                                           $   836,920    $   852,292
                                                     ===========    ===========

</TABLE>

The  accompanying  notes are an integral  part of these  consolidated  condensed
financial statements.

                                       7
<PAGE>



                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                          Notes to Financial Statements
                                  June 30, 2004
                                   (Unaudited)


Note 1 - General

The consolidated  financial  statements include the accounts of Independence Tax
Credit Plus L.P. IV (the "Partnership") and fourteen other limited  partnerships
("subsidiary  partnerships",  "subsidiaries"  or  "Local  Partnerships")  owning
affordable  apartment complexes that are eligible for the low-income housing tax
credit,  some of which apartment complexes may also be eligible for the historic
rehabilitation  tax credit.  The general  partner of the  Partnership is Related
Independence   L.L.C.,  a  Delaware  limited  liability  company  (the  "General
Partner").  Through the rights of the  Partnership  and/or an  affiliate  of the
General Partner,  which affiliate has a contractual  obligation to act on behalf
of the Partnership to remove the general partner of the subsidiary  partnerships
and to approve certain major operating and financial decisions,  the Partnership
has a controlling financial interest in the subsidiary partnerships.

For financial reporting purposes, the Partnership's fiscal quarter ends June 30.
All  subsidiaries  have  fiscal  quarters  ending  March  31.  Accounts  of  the
subsidiaries  have been  adjusted  for  intercompany  transactions  from April 1
through June 30. The Partnership's fiscal quarter ends June 30 in order to allow
adequate  time for the  subsidiaries'  financial  statements  to be prepared and
consolidated.

All intercompany accounts and transactions with the subsidiary partnerships have
been eliminated in consolidation.

Increase   (decrease)  in  the   capitalization  of  consolidated   subsidiaries
attributable to minority  interest arise from cash  contributions  from and cash
distributions to the minority interest partners.

Losses  attributable to minority interests which exceed the minority  interests'
investment  in a subsidiary  have been charged to the  Partnership.  Such losses
aggregated  approximately  $2,000 and $3,000 for the three months ended June 30,
2004 and 2003, respectively.  The Partnership's investment in each subsidiary is
equal to the respective  subsidiary's  partners'  equity less minority  interest
capital,  if any.  In  consolidation,  all  subsidiary  partnership  losses  are
included in the  Partnership's  capital  account except for losses  allocated to
minority interest capital.

Certain  information  and  note  disclosures   normally  included  in  financial
statements prepared in accordance with generally accepted accounting  principles
have been omitted or condensed.  These condensed financial  statements should be



                                       8
<PAGE>

                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                          Notes to Financial Statements
                                  June 30, 2004
                                   (Unaudited)


read in conjunction with the financial  statements and notes thereto included in
the Partnership's Annual Report on Form 10-K for the year ended March 31, 2004.

The books and records of the  Partnership are maintained on the accrual basis of
accounting in accordance with generally accepted accounting  principles.  In the
opinion of the General Partner of the Partnership,  the  accompanying  unaudited
financial  statements  contain  all  adjustments   (consisting  only  of  normal
recurring adjustments) necessary to present fairly the financial position of the
Partnership as of June 30, 2004 and its results of operations and its cash flows
for the three  months  ended  June 30,  2004 and 2003.  However,  the  operating
results for the three  months ended June 30, 2004 may not be  indicative  of the
results for the entire year.

Note 2 - Related Party Transactions

An affiliate  of the General  Partner has a .01%  interest as a special  limited
partner in each of the Local Partnerships.

The costs  incurred to related  parties for the three months ended June 30, 2004
and 2003 were as follows:

                                                           Three Months Ended
                                                                 June 30,
                                                         -----------------------
                                                           2004           2003
                                                         -----------------------

Partnership management fees (a)                          $ 84,280       $ 84,280
Expense reimbursement (b)                                  28,856         35,881
Local administrative fee (c)                               15,000         13,000
                                                         --------       --------
Total general and administrative-
  General Partner                                         128,136        133,161
                                                         --------       --------
Property management fees incur-
  red to affiliates of the subsidiary
  partnerships' general partners (d)                       26,511         26,230
                                                         --------       --------
Total general and administrative-
  related parties                                        $154,647       $159,391
                                                         ========       ========

(a) The General  Partner is entitled to receive a  partnership  management  fee,
after payment of all Partnership expenses,  which together with the annual local
administrative  fees  will not  exceed a maximum  of 0.5% per annum of  invested
assets (as defined in the Partnership Agreement),  for administering the affairs
of  the  Partnership.  Subject  to the  foregoing  limitation,  the  partnership
management fee will be determined by the General  Partner in its sole discretion



                                       9
<PAGE>

                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                                AND SUBSIDIARIES
                          Notes to Financial Statements
                                  June 30, 2004
                                   (Unaudited)



based  upon its  review of the  Partnership's  investments.  Unpaid  partnership
management  fees for any  year  will be  accrued  without  interest  and will be
payable from working capital  reserves or to the extent of available funds after
the  Partnership  has made  distributions  to the  limited  partners  of sale or
refinancing  proceeds equal to their original capital  contributions  plus a 10%
priority return thereon (to the extent not  theretofore  paid out of cash flow).
Partnership   management  fees  owed  to  the  General   Partner   amounting  to
approximately  $1,714,000 and $1,630,000  were accrued and unpaid as of June 30,
2004 and March 31, 2004, respectively.

(b) The Partnership reimburses the General Partner and its affiliates for actual
Partnership   operating  expenses  incurred  by  the  General  Partner  and  its
affiliates on the  Partnership's  behalf.  The amount of reimbursement  from the
Partnership is limited by the provisions of the Partnership  Agreement.  Another
affiliate of the General Partner  performs asset monitoring for the Partnership.
These   services   include  site  visits  and   evaluations  of  the  subsidiary
partnerships' performance.

(c)  Independence  SLP IV L.P.,  a special  limited  partner  of the  subsidiary
partnerships,  is entitled to receive a local administrative fee of $0 to $5,000
per year from each subsidiary partnership.

(d) Property  management  fees  incurred by the Local  Partnerships  amounted to
$86,392  and  $91,785  for the  three  months  ended  June 30,  2004  and  2003,
respectively.  Of these fees, $26,511 and $26,230 were incurred to affiliates of
the subsidiary partnerships' general partners.


Note 3 - Commitments and Contingencies

There  have  been  no  material  changes  and/or  additions  to the  disclosures
regarding the subsidiary  partnerships  which were included in the Partnership's
Annual Report on Form 10-K for the fiscal year ended March 31, 2004.



                                       10
<PAGE>


Item 2. Management's  Discussion and Analysis of Financial Condition and Results
of Operations

Liquidity and Capital Resources
-------------------------------

The Partnership's  primary sources of funds, in addition to operations,  include
(i) interest  earned on Gross  Proceeds  which are invested in tax-exempt  money
market instruments pending final payments to Local Partnerships and (ii) working
capital  reserves and interest  earned  thereon.  All these sources of funds are
available to meet obligations of the Partnership.

As of June 30, 2004,  the  Partnership  has invested  approximately  $37,814,000
(including   approximately  $1,161,000  classified  as  a  loan  repayable  from
sale/refinancing  proceeds in accordance with the Contribution Agreement,  which
has been  eliminated in  consolidation,  and not including  acquisition  fees of
approximately  $1,771,000)  of net proceeds in fourteen  Local  Partnerships  of
which  approximately  $1,396,000  remains  to be paid to the Local  Partnerships
(including  approximately  $598,000 being held in escrow) as certain benchmarks,
such as  occupancy  level,  must be attained  prior to the release of the funds.
During the three months ended June 30,  2004,  approximately  $9,000 was paid to
the Local Partnerships.

For the three  months  ended June 30,  2004,  cash and cash  equivalents  of the
Partnership  and its  fourteen  consolidated  Local  Partnerships  increased  by
approximately  $12,000.  This  increase  was due to cash  provided by  operating
activities ($86,000) and a decrease in cash held in escrow relating to investing
activities  ($48,000) which exceeded a decrease in due to local general partners
and affiliates relating to investing activities  ($23,000),  principal reduction
of mortgage notes  ($71,000) and a decrease in  capitalization  of  consolidated
subsidiaries  attributable  to  minority  interest  ($27,000).  Included  in the
adjustments  to reconcile the net loss to cash provided by operating  activities
is depreciation and amortization of approximately $628,000.

At June 30,  2004,  there  is  approximately  $106,000  in the  working  capital
reserves.  The  General  Partner  believes  that these  reserves,  plus any cash
distributions  received from the operations of the Local  Partnerships,  will be
sufficient to fund the  Partnership's  ongoing  operations  for the  foreseeable
future not including fees owed to the General  Partner.  During the three months
ended June 30, 2004,  there have been no cash  distributions  received  from the
Local Partnerships.

Management is not aware of any trends or events,  commitments or  uncertainties,
which  have not  otherwise  been  disclosed  that  will or are  likely to impact
liquidity in a material way.  Management  believes the only impact would be from
laws  that  have not yet been  adopted.  The  portfolio  is  diversified  by the
location of the  properties  around the United States so that if one area of the



                                       11
<PAGE>


country is experiencing  downturns in the economy,  the remaining  properties in
the  portfolio  may  be   experiencing   upswings.   However,   the   geographic
diversification  of the portfolio may not protect against a general  downturn in
the national  economy.  The  Partnership  has fully invested the proceeds of its
offering in fourteen Local Partnerships,  all of which have their tax credits in
place,  and are  expected  to begin  expiring in 2006.  The tax credits  will be
attached to the  property  for a period of ten years,  and will be  transferable
with the property during the remainder of such ten-year period. If trends in the
real estate market  warranted the sale of a property,  the remaining tax credits
would  transfer to the new owner,  thereby  adding  value to the property on the
market.  However,  such  value  declines  each year and is not  included  in the
financial statement carrying amount.

Critical Accounting Policies
----------------------------

In  preparing  the  consolidated  financial  statements,   management  has  made
estimates  and  assumptions  that  affect  the  reported  amounts  of assets and
liabilities at the date of the financial  statements and the reported amounts of
revenues and expenses during the reporting periods.  Actual results could differ
from those  estimates.  Set forth below is a summary of the accounting  policies
that  management  believes are critical to the  preparation of the  consolidated
financial  statements.  The summary should be read in conjunction  with the more
complete discussion of the Partnership's  accounting policies included in Note 2
to the consolidated  financial statements which are include in the Partnership's
annual report on Form 10-K for the year ended March 31, 2004.

a)  Property and Equipment

Property and  equipment  to be held and used are carried at cost which  includes
the purchase price,  acquisition fees and expenses, and any other costs incurred
in acquiring the  properties.  The cost of property and equipment is depreciated
over their estimated useful lives using accelerated and  straight-line  methods.
Expenditures  for repairs and  maintenance  are charged to expense as  incurred;
major  renewals  and  betterments  are  capitalized.  At the time  property  and
equipment  are  retired  or  otherwise  disposed  of,  the cost and  accumulated
depreciation  are  eliminated  from  the  assets  and  accumulated  depreciation
accounts  and the profit or loss on such  disposition  is reflected in earnings.
The Partnership complies with Statement of Financial Accounting Standards (SFAS)
No. 144 "Accounting for the Impairment or Disposal of Long-Lived Assets". A loss
on  impairment  of  assets  is  recorded  when  management   estimates   amounts
recoverable   through  future   operations  and  sale  of  the  property  on  an
undiscounted basis are below depreciated cost. At that time property investments
themselves are reduced to estimated fair value  (generally using discounted cash
flows) when the property is considered to be impaired and the  depreciated  cost
exceeds estimated fair value.



                                       12
<PAGE>

b)  Income Taxes

No  provision  has been made for income taxes in the  accompanying  consolidated
financial  statements  since such taxes, if any, are the  responsibility  of the
individual partners.  For income tax purposes, the Partnership has a fiscal year
ending December 31.

Results of Operations
---------------------

The  results of  operations  for the three  months  ended June 30, 2004 and 2003
continued to be in the form of rental income with corresponding expenses divided
among operations, depreciation and mortgage interest.

Rental  income  decreased  approximately  1% for the three months ended June 30,
2004 as  compared  to the  corresponding  period in 2003 due to the  Housing and
Urban Development lowering rents at one Local Partnership.

Total expenses, excluding insurance, remained fairly consistent, with a decrease
of less than 1% for the three  months  ended June 30,  2004 as  compared  to the
corresponding period in 2003.

Insurance  expense  increased  approximately  $22,000 for the three months ended
June 30, 2004 as compared to the corresponding  period in 2003, primarily due to
increases in insurance premiums at the Local Partnerships.

Item 3. Quantitative and Qualitative Disclosures about Market Risk

The Partnership does not have any market risk sensitive instruments.

Item 4. Controls and Procedures

EVALUATION OF DISCLOSURE CONTROLS AND PROCEDURES The Chief Executive Officer and
Chief Financial Officer of Related  Independence  L.L.C., the general partner of
the Partnership has evaluated the effectiveness of the Partnership's  disclosure
controls  and  procedures  (as  such  term is  defined  in Rules  13a-15(e)  and
15d-15(e) under the Securities Exchange Act of 1934, as amended ("Exchange Act")
as of the end of the period  covered by this report.  Based on such  evaluation,
such officer has concluded that, as of the end of such period, the Partnership's
disclosure controls and procedures are effective.

INTERNAL CONTROL OVER FINANCIAL REPORTING There have not been any changes in the
Partnership's  internal  control  over  financial  reporting  during  the fiscal
quarter to which this  report  relates  that have  materially  affected,  or are
reasonably likely to materially affect, the Partnership's  internal control over
financial reporting.



                                       13
<PAGE>


                           PART II. OTHER INFORMATION

Item 1.    Legal Proceedings - None

Item 2.    Changes  in  Securities  and Use of  Proceeds - None

Item 3.    Defaults Upon Senior Securities - None

Item 4.    Submission  of  Matters  to a Vote of  Security Holders - None

Item 5.    Other Information - None

Item 6.    Exhibits and Reports on Form 8-K

           (a) Exhibits

               (4) Form of Amended and Restated Agreement of Limited Partnership
of the Partnership (attached to the Prospectus as Exhibit A)*

               (10A) Form of Subscription  Agreement (attached to the Prospectus
as Exhibit B)*

               (10B) Form of Escrow  Agreement  between the  Partnership and the
Escrow Agent**

               (10C) Form of  Purchase  and Sales  Agreement  pertaining  to the
Partnership's acquisition of Local Partnership Interests**

               (10D)  Form  of  Amended  and   Restated   Agreement  of  Limited
Partnership of Local Partnerships**

               (31.1)   Certification   Pursuant  to  Rule   13a-14(a)  or  Rule
15d-14(a).

               (32.1) Certification Pursuant to Rule 13a-14(b) or Rule 15d-14(b)
and  Section  1350  of  Title  18  of  the   United   States   Code   (18 U.S.C.
1350).

               *  Incorporated  herein by reference to the final  Prospectus  as
filed pursuant to Rule 424 under the Securities Act of 1933.

               ** Filed as an exhibit to the Registration Statement on Form S-11
of the  Partnership  (File No.  33-89968) and  incorporated  herein by reference
thereto.

               (b)  Reports  on Form 8-K - No  reports  on Form  8-K were  filed
during the quarter.


                                       14
<PAGE>



                                   SIGNATURES

Pursuant to the  requirements of Section 13 or 15(d) of the Securities  Exchange
Act of 1934,  the  registrant  has duly  caused  this report to be signed on its
behalf by the undersigned, thereunto duly authorized.


                      INDEPENDENCE TAX CREDIT PLUS L.P. IV
                      ------------------------------------
                                  (Registrant)


                          By: RELATED INDEPENDENCE L.L.C.,
                              General Partner

Date:  July 26, 2004

                              By:/s/ Alan P. Hirmes
                                 ------------------
                                 Alan P. Hirmes,
                                 President and Member
                                 (Chief Executive Officer and Chief Financial
                                  Officer)

Date:  July 26, 2004

                              By:/s/ Glenn F. Hopps
                                 ------------------
                                 Glenn F. Hopps,
                                 Treasurer
                                 (principal accounting officer)


<PAGE>



                                                                    Exhibit 31.1


                         CERTIFICATION PURSUANT TO RULE
                           13a-14(a) OR RULE 15d-14(a)


I, Alan P.  Hirmes,  Chief  Executive  Officer  and Chief  Financial  Officer of
Related  Independence  L.L.C.  (the  "General  Partner"),  which is the  General
Partner of  Independence  Tax Credit  Plus L.P. IV (the  "Partnership"),  hereby
certify that:

     1)  I have  reviewed  this  quarterly  report on Form  10-Q for the  period
         ending June 30, 2004 of the Partnership;

     2)  Based on my  knowledge,  this  quarterly  report  does not  contain any
         untrue  statement of a material  fact or omit to state a material  fact
         necessary  in  order  to make  the  statements  made,  in  light of the
         circumstances  under which such  statements  were made,  not misleading
         with respect to the period covered by this quarterly report;

     3)  Based on my knowledge,  the financial  statements,  and other financial
         information  included in this quarterly  report,  fairly present in all
         material  respects the financial  condition,  results of operations and
         cash flows of the Partnership as of, and for, the periods  presented in
         this quarterly report;

     4)  I am responsible for establishing and maintaining  disclosure  controls
         and  procedures  (as  defined  in  Exchange  Act  Rules  13a-15(e)  and
         15d-15(e)) and internal control over financial reporting (as defined in
         Exchange Act Rules  13a-15(f) and 15d-15(f)) for the  Partnership and I
         have:

         a) designed  such  disclosure  controls and  procedures  or caused such
         disclosure controls and procedures to be designed under my supervision,
         to  ensure  that  material  information  relating  to  the  Partnership
         including its consolidated subsidiaries,  is made known to me by others
         within  those  entities,  particularly  during the period in which this
         quarterly report was being prepared;



<PAGE>


         b) designed such internal control over financial  reporting,  or caused
         such internal control over financial  reporting to be designed under my
         supervision,  to provide reasonable assurance regarding the reliability
         of financial reporting and the preparation of financial  statements for
         external  purposes in accordance  with  generally  accepted  accounting
         principles; and

         c) evaluated the effectiveness of the Partnership's disclosure controls
         and procedures and presented in this report our  conclusions  about the
         effectiveness  of the disclosure  controls and procedures as of the end
         of  the  period  covered  by  this  quarterly   report  based  on  such
         evaluation; and

         d) disclosed in this quarterly  report any change in the  Partnership's
         internal  control over  financial  reporting  that occurred  during the
         period  ending  June 30,  2004  that  has  materially  affected,  or is
         reasonably  likely to materially  affect,  the  Partnership's  internal
         control over financial reporting; and

     5)  I have  disclosed,  based  on my most  recent  evaluation  of  internal
         control over financial reporting,  to the Partnership's auditors and to
         the boards of directors of the General Partners:

         a) all significant  deficiencies and material  weaknesses in the design
         or operation of internal  control over  financial  reporting  which are
         reasonably  likely to  adversely  affect the  Partnership's  ability to
         record, process, summarize and report financial information; and

         b) any fraud,  whether or not  material,  that  involves  management or
         other  employees  who  have a  significant  role  in the  Partnership's
         internal control over financial reporting.


         Date: July 26, 2004
               -------------
                             By: /s/ Alan P. Hirmes
                                 ------------------
                                 Alan P. Hirmes
                                 Chief Executive Officer and
                                 Chief Financial Officer





<PAGE>



                                                                    Exhibit 32.1


                             CERTIFICATION PURSUANT
                       TO RULE 13a-14(b) OR RULE 15d-14(b)
                          AND SECTION 1350 OF TITLE 18
                   OF THE UNITED STATES CODE (18 U.S.C. 1350)


In connection with the Quarterly  Report of Independence Tax Credit Plus L.P. IV
(the  "Partnership")  on Form 10-Q for the period  ended June 30,  2004 as filed
with the  Securities  and  Exchange  Commission  ("SEC") on the date hereof (the
"Report"),  I, Alan P.  Hirmes,  Chief  Executive  Officer  and Chief  Financial
Officer of  Related  Independence  L.L.C.  which is the  general  partner of the
Partnership, certify, pursuant to 18 U.S.C. Section 1350, as adopted pursuant to
Section 906 of the Sarbanes-Oxley Act of 2002, that:


       (1) The Report fully complies with the  requirements  of section 13(a) or
15(d) of the Securities Exchange Act of 1934; and


       (2) The  information  contained  in the Report  fairly  presents,  in all
material  respects,  the  financial  condition  and result of  operations of the
Partnership.


A signed  original of this  written  statement  required by Section 906 has been
provided  to the  Partnership  and  will  be  retained  by the  Partnership  and
furnished to the SEC or its staff upon request.



By:  /s/Alan P. Hirmes
     -----------------
     Alan P. Hirmes
     Chief Executive Officer and Chief Financial Officer
     July 26, 2004