Feature
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...
Compliance
April 27, 2018
Dealing with the IRS
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
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
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
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
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
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
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
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.
