LIHTC Guide
Oct 15, 2015
The federal government announced today that the Social Security Cost of Living Adjustment (COLA) for 2016 will be zero. This means that there will be no change in the Social Security income of SS reci...
Oct 4, 2015
Taxpayer Removal from the Program - The Section 42 Death Penalty IRS Treasury Regulation 1.42-5(e)(3) provides authority for the state agency to report to the IRS that a building is "no...
Sep 28, 2015
IRC Section 42(h)(5) requires that a portion of each states annual credit ceiling be set aside for allocation to projects involving qualified nonprofit organizations. Specifically, the Code requires t...
Sep 26, 2015
The Department of Housing and Urban Development (HUD) published in Interim Rule in the September 8, 2015 Federal Register, titled " Streamlining Administrative Regulations for Public Housing: Revision...
Sep 21, 2015
Children for Whom Custody is Being Obtained - To Count or Not to Count When determining income eligibility for Section 8 or Low-Income Housing Tax Credit (LIHTC) properties, HUD Section 8...
Sep 20, 2015
The IRS and Extended Use Agreements As outlined in 42 (h) (6), all LIHTC properties allocated credits after 1989 must have an extended use agreement (EUA). The agreement is entered into...
Sep 19, 2015
I sent a memo to clients on June 29, 2015, regarding HUD Notice H 2015-04, which was published by HUD on June 22, 2015. This Notice outlined revised HUD requirements relative to the Methodology for Co...
Sep 16, 2015
Section 42 (i) (3) (D) states that certain students do not disqualify a unit from being low-income for LIHTC purposes. Five exceptions are outlined in the Code, one of which states "A unit shall not f...
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