NCHM is pleased to announce that Jennifer Robinson has joined the staff as Senior Associate, Housing Tax Credits. Jennifer brings more than 17 years of housing and training experience to the team, including the past 14 years as Director of Education and Training...
Key Takeaways Form 8823 is the tool state agencies use to report LIHTC noncompliance to the IRS, guided by the IRS’s 8823 Handbook to ensure consistent interpretation of Section 42 rules. LIHTC owners are given a correction period of up to 90 days once noncompliance...
Passed into law on March 27, 2020 in response to the COVID-19 pandemic, the Coronavirus Aid, Relief and Economic Security (CARES) Act includes provision for an eviction moratorium on non-payment of rent for most federal housing programs. It limits owners from filing...
With the passage of the Consolidated Appropriations Act of 2018, the Low Income Housing Tax Credit (LIHTC) Program gained an additional option for the minimum set-aside test in the form of Average Income. As such, owners of tax credit properties that receive their...
As NCHM’s Director of LIHTC Compliance, I was encouraged to find that the National Council of State Housing Agencies’ recently published Recommended Practices in Housing Credit Administration placed additional emphasis on the need for broader and ongoing...
In light of the three major hurricanes and other natural disasters that have occurred in the U.S. this year, I am happy to write about a piece of good news in the form of Revenue Procedure 2014-49, which provides temporary relief for LIHTC owners from certain...
