Feature Articles

Feature Articles

How to Verify Student Status of Household Members

June 27, 2019    

To comply with tax credit rules, you must verify the student status of each household member who says he or she is a student. That’s because tax credit rules bar households composed entirely of full-time students. And if the student is a member of a household that’s not barred for...

Send Notices to Remind Households to Report for Recertification

May 30, 2019    

Each year, if you manage a mixed-income site, you have the time-consuming job of recertifying tax credit households. But some households make the process more burdensome for you by failing to show up for a recertification meeting. If household members don’t report to a meeting until...

The Impact of Opportunity Zones on Tax Credit Housing Development

May 16, 2019    

The federal Opportunity Zone program has generated a lot of excitement among investors and the real estate industry since it was created as part of the 2017 Tax Cuts and Jobs Act. The Opportunity Zone program seeks to be a catalyst for development in the neediest communities.

How to Tell Troublemaking Households You're Not Renewing

April 26, 2019    

As an owner or manager, you do your best to hold on to most households, especially because qualified tax credit households can be hard to find. But there may be times when, in order to comply with the tax credit program, you may have to ask certain tax credit households to leave. For instance,...

How to Handle Disability-Related Requests for Parking Accommodations

March 28, 2019    

It’s important for a tax credit site manager to be aware of fair housing laws. In addition to legal troubles, violating fair housing laws can jeopardize an owner’s low-income housing credits. The Department of Housing and Urban Development (HUD) enforces the Fair Housing Act (FHA)...

How to Document Reason for Third-Party Income Verification’s Absence

February 28, 2019    

When certifying and recertifying households, you must first try to verify the items you include in household income with third-party sources. For example, you must ask a resident’s employer to verify her employment income. But third-party sources don’t always cooperate with you by...

Share Safety Tips Regarding CO Poisoning with Site Residents

January 30, 2019    

Along with the colder weather comes the risk of carbon monoxide (CO) poisoning. CO is a colorless, odorless gas that’s the second most common cause of non-medicinal poisoning death. According to the Centers for Disease Prevention and Control (CDC), over 10,000 people are poisoned by CO and...

How to Handle Rental Property When Calculating Household Income

January 30, 2019    

Determining annual income is an important step in determining an applicant’s eligibility for the LIHTC program. To become income eligible, an applicant’s household gross annual income must be equal to or less than the income limit applicable to your site.

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...

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...

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...

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...