This year marks the 56th anniversary of the Fair Housing Act (FHA), enacted by Congress on April 11, 1968. The FHA has been amended several times and now prohibits housing discrimination based on race, color national origin, religion, sex (including gender identity and sexual orientation),...
As a LIHTC site owner or manager, it’s important to be aware of Housing Opportunity Through Modernization Act (HOTMA) provisions since the legislation deals with reforms to the Section 8 Housing Choice Voucher program. And although the HOTMA legislative text or HUD regulations concerning...
Four new types of income will no longer impact eligibility calculations.
Specific sources of income are excluded by federal statute from consideration as income for purposes of determining eligibility for, or benefits in, a HUD program. By extension, these...
Minor changes may indicate more significant updates to come.
The IRS recently issued updated guidance for completing Form 8823, the form used by state and local LIHTC agencies to notify the IRS in the event of noncompliance or building disposition. The Guide...
On Jan. 10, HUD published a notice on changes the agency is intending to make to the methodology used for calculating Section 8 income limits. HUD publishes these income limits each year based on changes to each...
As a site owner or manager, it’s a good idea to check the interior common areas of your tax credit site regularly for safety hazards. If you find problems, you must immediately correct them, or risk legal liability for any potential injuries to residents, their guests, or visitors to the...
A definite plan to deal with potential disasters at your site is an important element of providing a safe environment for your staff and residents. The U.S. is experiencing more frequent and intense weather- and climate-...
The IRS recently issued Notice 24-08, which contains the 2024 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
With the recent notice, the 2024 business standard mileage rate is increasing to 67...
Prepare for how these annual changes will affect income, asset, and eligibility determinations.
Low-income housing tax credit law requires site owners to use HUD’s Section 8 rules regarding income calculations. According to Treasury Regulations §1....
As Congress considers reforms, sites may need to take action now to limit the financial strain.
As a site owner or manager, you understand the severe financial consequences that can result from things beyond your control, such as a loss due to fire, flood,...
HUD recently issued Notice H2023-10 that provides guidance to multifamily housing owners regarding the implementation of the many program changes brought about by the Housing Opportunity Through Modernization Act of 2016 (HOTMA). The recent notice makes implementation changes for sections 102...
