Feature

Can Your Firm Benefit from Updated PPP Loan Rules?

June 11, 2020    
Management companies may get a boost from more business-friendly loan rules.   On June 5, President Trump signed into law the Paycheck Protection Program Flexibility Act, which made changes to the Paycheck Protection Program (PPP) to make it more user friendly for businesses. In short, the...
Income Calculations

Four Dos & Don'ts for Calculating Income from 'Gig Economy' Jobs

June 11, 2020    
As U.S. unemployment reaches historic levels, you may see more applicants making ends meet with income from online “gig” platforms such as Instacart, Postmates, or Grubhub. These particular grocery and food delivery services have reported record demand during the pandemic and have...
Q & A

Follow Insurance Notice Requirements to Boost Chance of COVID-Related Payout

June 11, 2020    
Businesses seeking to recover coronavirus-related losses under their business interruption and property insurance policies have had difficulty in doing so because of questions as to whether their policies cover such losses. How those coverage questions will be resolved remains an open question, and...
In the News

Senate Finance Committee Details LIHTC Legislative Priorities

June 11, 2020    
Senator Ron Wyden of Oregon, the ranking member of the Senate Finance Committee, recently released a list of affordable housing priorities he will push for in the next round of COVID-19 relief legislation. His priorities are directed toward supporting LIHTC sites. Wyden’s focus on preserving...
Feature

Domestic Violence During the Pandemic: How to Ensure Safe Housing at Your Site

May 13, 2020    
For victims of domestic violence, staying home during the pandemic may not be the safest option.  
Maintenance

Six Strategies to Boost Building Resilience to Extreme Weather

May 13, 2020    
While the country is still dealing with the impact of the COVID-19 pandemic, the Atlantic hurricane season will be here soon. Hurricane season begins on June 1, just as many South and East Coast states are set to enter a delicate re-opening process. Hurricane season brings extreme events and...
Dealing with the IRS

IRS Issues Temporary Procedures for Submitting PLR Requests

May 13, 2020    
A private letter ruling (PLR) is a written response the IRS issues to an owner or taxpayer when the owner asks a question about the tax effects of its acts or transactions. For example, you may not know whether the IRS can give the owner more time to elect the site’s minimum set-aside, or...
Feature

IRS Grants Relief from Timing Requirements

April 15, 2020    
And considers issuing COVID-19 compliance guidance.   In late March, the National Council of State Housing Agencies (NCSHA) sent a letter to the IRS and the Treasury Department asking them to take immediate action to provide deadline extensions and other necessary accommodations for the LIHTC...
Compliance

Federal Eviction Moratorium Applies to LIHTC Sites

April 15, 2020    
The Coronavirus Aid, Relief, and Economic Security Act (CARES Act), signed into law on March 27, 2020, includes important, immediate protections for tenants. Specifically, it mandates a 120-day eviction moratorium for tenants living in certain types of properties.
Income Calculations

CARES Act Changes Required Minimum Distribution Rules for 2020

April 15, 2020    
On March 27, the president signed into law the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act) as part of the $2 trillion stimulus package intended to stabilize the economy during the devastating coronavirus pandemic. The CARES Act provides for a temporary waiver of required...