Feature

Implementing Integrated Pest Management

July 14, 2017    
By Carolyn E. Zezima, Esq.
Feature

How to Avoid Four Common Timing Mistakes During the Verification Process

June 30, 2017    
To calculate and verify household income at tax credit sites, owners and managers are required to follow the rules set out in HUD Handbook 4350.3 (Occupancy Requirements of Subsidized Multifamily Housing Programs). Specifically, sections 1 and 3 of Chapter 5 (Determining Income and Calculating Rent...
Verification

How to Verify Income from Government Benefits

June 30, 2017    
Many household members get Social Security, Supplemental Security Income (SSI), or other government benefits. To certify and recertify households correctly, you must count these benefits as part of a household’s income and verify the amounts with the appropriate government agency [HUD...
In the News

House Speaker Paul Ryan Delivers Speech on Tax Reform

June 30, 2017    
House Speaker Paul Ryan (R-WI) recently delivered a speech on his vision for tax reform at the 2017 National Association of Manufacturers (NAM) Summit. He indicated his hopes to see a comprehensive tax reform bill passed by the end of 2017. “Our goal is to get it done by the end of the year,...
In the News

Joint Center for Housing Publishes 2017 State of the Nation's Housing Report

June 30, 2017    
The Joint Center for Housing Studies of Harvard University (JCHS) recently released “The State of the Nation’s Housing” report for 2017. The report shows that 37 percent of American households now rent. This marks a 50-year high. The report also finds that the supply of rental...
In the News

Senator Hatch Invites Stakeholder Feedback on Tax Reform

June 30, 2017    
Senate Finance Committee Chairman Orrin Hatch (R-Utah) recently released a letter inviting feedback on tax reform. Hatch invited recommendations on a variety of tax-related topics, including four key issue areas—individual income tax relief for middle-class individuals and families, lowering...
In the News

IRS and Treasury Representatives Speak on LIHTC Topics

June 30, 2017    
Representatives from the IRS and the U.S. Department of the Treasury recently spoke at the annual meeting of the American Bar Association Forum on Affordable Housing and Community Development. The representatives did not speak on behalf of their respective agencies, but rather provided personal...
Dos & Don'ts

Include Unrelated Household Members When Calculating Household Income

June 30, 2017    
When you calculate a household’s income to determine if it’s qualified, total the income of all the household’s members, even if they’re not related. If you make the mistake of counting members’ incomes separately, you’re likely to determine that their household...
Dos & Don'ts

Don't Include Approved Rent Subsidies When Calculating Household Income and Rent

June 30, 2017    
Don’t include the value of any approved federal or state rent subsidies the owner gets for a household when you calculate the household’s income and rent. If you do, you may charge the household too much rent. Or you may lose out on renting to a qualified household because you...
Dos & Don'ts

Verify Every Source of Household Income

June 30, 2017    
Make sure that you verify every source of income a household reports. A household isn’t qualified unless you have the verifications to prove it. So if you accept a household without verifying all its income, the owner won’t be able to claim tax credits for the household’s unit....