Facts: The IRS gives owners the option of claiming tax credits at the end of the year the buildings are placed in service or deferring until the following year. Once credits are claimed, the qualified basis is set and can never go down. In addition, any low-income units leased after the first year...

Sometimes tax credit site owners aren’t entitled to claim all the credits they were allocated for a building. This happens when owners don’t lease up as many units to qualified low-income households as they must in the first year of the building’s compliance period. As a result,...

On Aug. 9, the Treasury Department released its 2013–2014 Priority Guidance Plan. In IRS Notice 2013-22, the department solicited suggestions from all interested parties, including taxpayers, tax practitioners, and industry groups, to help formulate a Priority Guidance Plan that focuses...

You’ve placed ads in the newspaper and on the Internet to market your tax credit site. Your efforts prove successful, and before you know it you’re busy handling phone calls and visits from prospects. When this happens, you should be prepared to make the most of your first meeting with...