Feature

Make Sure PLR Request Contains Required Information

April 27, 2018    
A private letter ruling (PLR) is a written response issued by the IRS to an owner or taxpayer when the owner asks a question about the tax effects of its acts or transactions. The questions posed by site owners usually entail uncertainty about how to handle a situation and the need for guidance on...
Dealing with the IRS

How Opportunity Zones May Help Affordable Housing Development

April 27, 2018    
The Tax Cut and Jobs Act of 2017 passed late last year includes a provision to allow states to designate “Opportunity Zones” in low-income areas. Investors who develop real estate or fund businesses in these zones are eligible for tax breaks. Governors have been working with mayors,...
In the News

IRS Revises 2018 Inflation Adjustments for LIHTCs, Bonds

April 27, 2018    
Revenue Procedure 2017-58, released in October 2017, provided the annual inflation adjustments for more than 50 tax provisions, including the tax rate schedules and other tax amounts for 2018, as adjusted for inflation for 2018. But a few months later, Congress passed the new tax law with the Tax...
In the News

HUD Issues 2018 Income Limits for HUD and Tax Credit Programs

April 27, 2018    
HUD recently announced the 2018 income limits for the MTSP housing programs effective April 1, 2018. This includes low-income housing tax credits and tax-exempt bond financing. HUD advises that the income limits are effective immediately for all HUD programs, whereas the IRS allows a transition...
In the News

Study Looks at Low-Income Housing’s Rooftop Solar Potential

April 27, 2018    
A recent study published by the National Renewable Energy Laboratory found that nearly half of all the residential rooftop solar potential in the United States is available atop low- to moderate-income households, representing a 320 gigawatt opportunity.
Feature

Follow Three Dos & Don'ts on Setting House Rules Affecting Children

March 29, 2018    
Like many tax credit managers, you may have considered setting house rules aimed specifically at children. Your motive may be concern for children’s safety around specific hazards like swimming pools. Or if you’ve been getting noise complaints from residents or have recently found...
Compliance

Three Tips on Advertising Without Violating the Fair Housing Act

March 29, 2018    
When you place ads to fill vacancies or waiting lists at your tax credit site, what those ads say or how they depict your site can greatly influence who responds. For this reason, fair housing advocacy groups pay close attention to ads for rental housing. If you say or depict the wrong thing, you...
Compliance

Spending Bill Contains Two Important LIHTC Program Changes

March 29, 2018    
On March 23, President Trump signed the Consolidated Appropriations Act, 2018 (H.R. 1625), a $1.3 trillion spending bill that funds the federal government through Sept. 30, 2018. In addition to preventing a government shutdown, this omnibus spending bill incorporated two key improvements adopted...
In the News

HUD Report Shows Continued Need and Success of LIHTC Program

March 29, 2018    
HUD recently released “Understanding Whom the LIHTC Program Serves: Data on Tenants in LIHTC Units as of December 31, 2015,” a report that analyzes LIHTC household data collected as a result of the Housing and Economic Recovery Act (HERA) passed in 2008.
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