Search Results for 'LIHTC'

IRS Provides Temporary Relief for LIHTC

Filed in Disaster Response, Multifamily by on July 1, 2020 0 Comments
IRS Provides Temporary Relief for LIHTC

In a victory for NAHB and its members, the Internal Revenue Service today announced temporary relief from certain requirements under Section 42 of the Internal Revenue Code for Low-Income Housing Tax Credit (LIHTC) projects. In light of financing and construction delays and other challenges resulting from COVID-19, NAHB requested in April that the IRS extend all relevant LIHTC deadlines. 

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NAHB Urges Congress to Support Affordable Housing, LIHTC in Next Package

Filed in Advocacy, Disaster Response, Multifamily by on May 7, 2020 2 Comments
NAHB Urges Congress to Support Affordable Housing, LIHTC in Next Package

NAHB, as part of the A Call To Invest in Our Neighborhoods (ACTION) Coalition, sent to congressional leaders a letter urging them to stabilize the affordable housing system by including provisions to support the Low-Income Housing Tax Credit (LIHTC) and mitigate the damage to affordable housing production that is already occurring as a result of the COVID-19 crisis.

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Learn About Income Limits and Utility Allowance Changes in LIHTC Housing

Filed in Education, Multifamily by on March 20, 2020 0 Comments
Learn About Income Limits and Utility Allowance Changes in LIHTC Housing

There have been significant changes to the way the income of tenants is calculated for units using Low-Income Housing Tax Credits (LIHTC). In addition, formulas for utility allowances have changed. Many multifamily developers and managers need to be aware of these important changes.

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IRS Provides Clarity on LIHTC Income Limits

Filed in Economics, Multifamily by on February 11, 2020 0 Comments
IRS Provides Clarity on LIHTC Income Limits

The Internal Revenue Service recently released revenue ruling 2020-4 that instructs taxpayers how to calculate Low-Income Housing Tax Credit (LIHTC) income limits should they choose to use the income averaging minimum set-aside test to meet LIHTC eligibility and compliance requirements.

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How Emerging Fair Housing Issues May Affect LIHTC Properties

Filed in Education, Multifamily by on September 26, 2019 0 Comments
How Emerging Fair Housing Issues May Affect LIHTC Properties

NAHB’s Fair Housing: Addressing the Issues Facing LIHTC Properties webinar on Thursday, Oct. 10, at 2-3 p.m. ET will offer practical guidance on how to identify and address reasonable accommodation requests, including debunking some of the myths that lead managers to believe they can never say “no” to a request.

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4 Cities Added to LIHTC Maps

Filed in Codes and Standards, Multifamily by on February 5, 2019 0 Comments
4 Cities Added to LIHTC Maps

NAHB has added Detroit, San Diego, Tampa, Fla., and Minneapolis to its exclusive series of maps detailing metro areas where the Low-Income Housing Tax Credit (LIHTC) is used to develop new affordable homes and apartments.

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New LIHTC Webinar Offers Updates to Income Averaging Questions

Filed in Education, Multifamily by on November 30, 2018 0 Comments
New LIHTC Webinar Offers Updates to Income Averaging Questions

This Dec. 12 webinar answers questions we received about the new Income Average Test, which Low Income Housing Tax Credit professionals must consider to maintain compliance at tax-credit properties.

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House to Take Up Tax Extenders, Fix for LIHTC Veterans Projects

Filed in Advocacy, Multifamily by on November 27, 2018 1 Comment
House to Take Up Tax Extenders, Fix for LIHTC Veterans Projects

House Ways and Means Committee Chairman Kevin Brady last night released a broad tax package that the House is expected to consider later this week. The legislation includes retirement and other savings enhancements, reforms to the Internal Revenue Service, and temporary tax relief for victims of recent natural disasters.

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GAO Report on LIHTC Finds Wide Range in Median Construction Costs

Filed in Advocacy, Multifamily by on September 18, 2018 0 Comments
GAO Report on LIHTC Finds Wide Range in Median Construction Costs

The Government Accountability Office (GAO) today released its long-anticipated report on Low Income Housing Tax Credit (LIHTC) development costs. This is the third GAO report examining the LIHTC, stemming from a request by Senate Judiciary Chairman Chuck Grassley (R-Iowa) to examine the cost-efficiency and effectiveness of the housing tax credit.

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Missed Opportunity for LIHTC on Budget Accord

Filed in Advocacy, Multifamily by on March 22, 2018 1 Comment
Missed Opportunity for LIHTC on Budget Accord

Republican and Democrat leaders struck a deal yesterday on a $1.3 trillion omnibus spending package that missed a golden opportunity to significantly strengthen the Low Income Housing Tax Credit program.

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