News & Insights
Stay informed with the latest news and updates regarding the affordable housing industry.
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 ...
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...
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: Revisi...
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...
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...
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...
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...
HUD recently provided guidance on components of the HOME program that have raised questions. Following are the clarifications that apply to the use of HOME funds with multifamily housing. HOME fun...
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