Advanced training for LIHTC professionals
• Online certification course
• Prerequisite: TCS or equivalent
Tax Credit Specialist Advanced® (TCSA®) builds upon and goes beyond the subject matter presented in our Tax Credit Specialist class. Delivered online in three three-hour sessions, TCSA delves deeply into the increasingly complicated compliance challenges that housing credits bring to site management.
Session One encourages a deeper understanding of LIHTC compliance through a close analysis of key property obligations, IRS guidance and forms, and the multiple-building election, which has numerous implications for LIHTC site management.
Session Two focuses on the increasing demand for proficiency in "blended" – or layered – LIHTC compliance. The session includes a thorough review of tenant qualification under housing credit acquisition and rehabilitation and basic blended compliance mechanics for LIHTC layered with HUD Project-Based assistance, the HOME program, and/or Rural Development funding.
Session Three wraps up the course with a review of evaluation and planning for ongoing affordability after the initial 15-year compliance period, and a presentation of the most common noncompliance problems at housing credit properties and how they should be resolved.
Key areas of focus:
- Distinguishing between Section 42 requirements, State Agency specifics, owner discretion, and industry standards
- Analyzing IRS Forms 8609, 8823 and the Multiple-Building Election
- Properly managing Acquisition/Rehabilitations using LIHTC
- Learning the basic program mechanics for LIHTC blended with HUD P/B, HOME and/or RD
- Planning for post year-15 LIHTC compliance
- Identifying and correcting the most common non-compliance issues for LIHTC
||Online course taught over one week
||Includes online exam
||Class will meet online on Tuesday, Wednesday, and Thursday from 1pm to 4pm EST. Homework will be assigned and is due at 10am EST the following day. Class will meet on Friday of the same week at 1pm EST to review the final homework assignment and discuss any final issues prior to exam, which will be available online through the following week.
||TCS certification or approved equivalent (non-TCS must pass TCS exam prior to attending TCSA)
||Tax Credit Specialists
||Downloadable PowerPoint handouts for training notes along with supplemental resource materials and homework assignments