The Housing Opportunities Through Modernization Act (HOTMA) poses the most significant changes to affordable housing in decades, including the Low-Income Housing Tax Credit (LIHTC) program. While some State Housing Credit Agencies have updated their policies and forms...
The long-awaited updated version of the IRS’s Guide for Completing Form 8823 has been released. The Guide was first released in 2007 to provide guidelines for preparing Form 8823, the Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition. ...
NCHM staff recently reached out to IRS officials for guidance on how the agency will handle the Housing Opportunities Through Modernization Act (HOTMA) Final Rule provisions recently issued by HUD with respect to their impact on the Low-Income Housing Tax Credit...
One of HUD’s key tools in ensuring affordable housing options for low-income individuals and families is the establishment of income limits. In years past, HUD has released income limits sometime between late March and early April with the stated goal of having...
The Internal Revenue Service (IRS) has released the long-awaited Final and Temporary Regulations on the Average Income Test Minimum Set-Aside for Low-Income Housing Tax Credit (LIHTC) properties. The announcement came on Friday, October 7, 2022, and will be published...