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Stay informed with the latest news and updates regarding the affordable housing industry.

The IRS Section 42 Audit Guide: How Tax Returns for LIHTC Properties are Analyzed for Audit Potential

How Tax Returns for LIHTC Properties are Analyzed for Audit Potential   The IRS 42 Audit Guide provides guidance for analyzing tax returns before contacting taxpayers to determine the spe...

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HUD Moving Aggressively on Affirmatively Furthering Fair Housing

The Department of Housing and Urban Development (HUD) is moving forward aggressively with the departments new Affirmatively Furthering Fair Housing campaign to desegregate the country s primar...

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Role of the IRS and State Agencies in Implementing the LIHTC Program

With the revision of the IRS Audit Guide for the Low-Income Housing Tax Credit Program, the IRS is providing a comprehensive examination of the requirements of the program. Chapter 1 of the Guide p...

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Proposed Rural Housing Service Rule will Reduce Financial Reporting Requirements

On August 6, 2015, the Rural Housing Service (RHS) published a proposed rule in the Federal Register that will amend current regulations to change program requirements regarding financial reporting. T...

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IRS Publishes Revised LIHTC Audit Guide - August 11, 2015

The IRS has published a revised Audit Guide for the Low-Income Housing Tax Credit Program, with a revision date of August 11, 2015. The Guide is intended to assist IRS examiners when auditing Partners...

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Assistance Animals - A Reminder on What is Required

On July 15, 2015, HUD charged the owners and manager of Viking Villas, a 36-unit apartment complex in Sioux Falls, SD, with a violation of the Fair Housing Act for refusing to grant a reasonable accom...

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Rural Housing Service Accepting Applications for Multifamily Preservation and Revitilization (MPR)

On August 3, 2015, the Rural Housing Service published a Notice in the Federal Register announcing the timeframe to submit applications to participate in a demonstration program to preserve and revita...

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GAO Recommends Joint HUD - IRS Oversight of LIHTC Program

Responding to a request from Senator Charles Grassley, Chairman of the Senate Judiciary Committee, the Government Accountability Office (GAO) as performed a review of the oversight and administration ...

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