Tax Credit Housing Management Insider

Feature

Avoid Noncompliance Problems When Family Size Changes

December 23, 2018    
As a tax credit manager, you must be aware of households’ composition and how changes in the size of an existing household after the initial tenant income certification may invoke certain LIHTC rules. Generally, changes in family size don’t cause a unit to stop being income-qualified.
Compliance

Download Five Documents to Help with Tax Credit Management

December 23, 2018    
As a tax credit owner or manager, you should familiarize yourself with key documents to help you manage your tax credit site. To make it easy for you to get these documents, we’ll discuss five useful documents you can download from the Internet. We’ll tell you about each document and...
Q & A

Single Parent Exception to the Student Rule

December 23, 2018    
 Q As I understand it, there’s an exception to the student rule for a single parent. At what age is the child no longer considered a child or a full-time student for the purposes of this exception? A For the LIHTC program, a household cannot be comprised of all full-time students (...
In the News

President Trump Nominates Mark Calabria to Be FHFA Director

December 23, 2018    
President Donald Trump recently announced that he would nominate Mark Calabria, chief economist to Vice President Mike Pence, to be the new director of the Federal Housing Finance Agency (FHFA) for a term of five years. Prior to his current position in the administration, Mr. Calabria was director...
In the News

Report Examines Relationship Between Rent Affordability and Homelessness

December 23, 2018    
A recent report from Zillow Research titled, “Homelessness Rises More Quickly Where Rent Exceeds a Third of Income,” looked at the relationship between rent affordability and homelessness. The report found that communities where the median rent is more than 32 percent of the median...
In the News

JCHS Releases Housing for Older Adults Report

December 23, 2018    
The Joint Center for Housing Studies of Harvard University released a study highlighting housing needs as the U.S. population ages. More than half of the nation’s householders are at least 50 years of age, and more than one-quarter are at least 65 years of age. Between 2011 and 2016, the...
Feature

Include Required LIHTC Documents in Site's Retention Plan

November 29, 2018    
Every year site owners submit various IRS tax forms to claim the low-income housing tax credit on their tax return. IRS examiners look at the submitted information along with internal IRS information to determine whether to conduct an audit. If an examiner wants to continue with the audit process,...
Certification

How to Certify Households Sharing Child Custody

November 29, 2018    
Site managers have to deal with countless situations presented to them by residents, one of which is shared custody of children. A low-income household may report to you that its members include children who are covered by a joint custody arrangement—that is, the children live part of the...
Compliance

Understanding the Placed-in-Service Dates for LIHTC Sites

November 29, 2018    
Placing a building in service—that is, making it functional within the tax credit program—can be tricky if you’re not sure what’s required and what your options are. And knowing how to place a building in service is important because it affects when your building’s...
In the News

IRS Sets 2019 Caps for LIHTCs, Bonds

November 29, 2018    
The IRS recently announced an increase in the low-income housing tax credit (LIHTC) and private-activity bond caps for 2019. Revenue Procedure 2018-57 sets the 2019 amounts used to calculate each state’s LIHTC ceiling at the greater of $2.76 multiplied by the state population, or $3,166,875....