News & Insights
Stay informed with the latest news and updates regarding the affordable housing industry.
During an audit, a primary point of examination by the IRS will be the reconciliation of eligible basis, and identification of large, unusual or questionable items. Reconciliation of Elig...
In Velez v. Cuyahoga Metropolitan Housing Authority, 2015 U.S. App. Lexis 13265 (6th Cir. July 30, 2015), an appeals court ruled that fees for short-term rentals are considered rent and must be paid ...
The next few articles in this series of articles on the IRS Audit Guide will focus on the important issue of Eligible Basis, the beginning point for the calculation of credits. This first ar...
The federal government announced today that the Social Security Cost of Living Adjustment (COLA) for 2016 will be zero. This means that there will be no change in the Social Security income of SS reci...
Taxpayer Removal from the Program - The Section 42 Death Penalty IRS Treasury Regulation 1.42-5(e)(3) provides authority for the state agency to report to the IRS that a building is ...
IRC Section 42(h)(5) requires that a portion of each states annual credit ceiling be set aside for allocation to projects involving qualified nonprofit organizations. Specifically, the Code requires t...
The Department of Housing and Urban Development (HUD) published in Interim Rule in the September 8, 2015 Federal Register, titled Streamlining Administrative Regulations for Public Housing: Revisi...
Children for Whom Custody is Being Obtained - To Count or Not to Count When determining income eligibility for Section 8 or Low-Income Housing Tax Credit (LIHTC) properties, HUD Section 8...
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