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A. J. Johnson

A. J. Johnson

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HUD Confirms That Child Tax Credit and Earned Income Tax Credit Are Not Income

March 5, 2022

New resources and information about the Child Tax Credit (CTC) and Earned Income Tax Credit (EITC) on now available on the HUD Exchange (www.hudexchange.info). The 2021 American Rescue Plan (ARP) temporarily increased the CTC from $2,000 per child to $3,000…

HUD Updates FAQ on Multifamily Housing Utility Allowance Requirements

February 27, 2022

The Department of Housing & Urban Development (HUD) has recently updated the Frequently Asked Questions Methodology for Completing a Multifamily Housing Utility Analysis. The original Notice on the UA requirement was Notice H 2015-04, which was published on June 22,…

HUD to Enforce Carbon Monoxide Protections in HUD Projects

February 26, 2022

On January 31, 2022, HUD issued Notice H-2022-01, clarifying federal requirements for carbon monoxide (CO) alarms and detectors. CO is a byproduct of fuel-fired combustion appliances such as furnaces and water heaters. If these appliances are not properly vented, the…

A. J. Johnson to Host Webinar of LIHTC Acquisition/Rehab Issues

February 23, 2022

A. J. Johnson will be conducting a 1.5-hour webinar on March 2, 2022, on Critical Issues Relating to the Acquisition & Rehabilitation of LIHTC properties. The Webinar will be held at 1:00 PM Eastern Time. This 1.5-hour session focuses on…

Recent Court Decision Confirms that ADA Does Not Apply to Private Apartment Complexes

February 20, 2022

In Saint Pierre v. NFG Housing Partners, LP (November 2021), the U.S. District Court for the District of Maine ruled that the Americans with Disabilities Act (ADA) is not applicable to privately owned apartment communities. This is due to the…

Zillow Home Sales Draw Congressional Scrutiny

February 19, 2022

Zillow’s plans to sell a large portfolio of single-family homes to institutional investors is drawing attention from Congress. Senators Tina Smith (D-MN) and Sherrod Brown (D-OH) are raising concerns that these investors will turn the homes into rental properties –…

A. J. Johnson Partners with Mid-Atlantic AHMA for March Training on Affordable Housing

February 18, 2022

During the month of March 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for three live webinars intended for real estate professionals, particularly those in the affordable multifamily housing field. The following live webinars…

Non-Retirement Investment Accounts – How to Treat for Affordable Housing Purposes

February 13, 2022

Most operators of affordable multifamily rental housing know that when regular payments are made from retirement accounts, those payments count as income, and any amounts remaining in the account are not counted as assets. But what about non-retirement investment accounts?…

HUD Awards $20 Million for Eviction Protection and Diversion

February 12, 2022

In a first-of-its-kind action, the Department of Housing & Urban Development (HUD) has awarded $20 million in grants from its Eviction Protection Grant Program. These grants are being awarded to legal service providers to assist their efforts in providing legal…

Treasury Inspector General Issues Report Critical of IRS LIHTC Oversight

February 5, 2022

On January 26, 2022, the Treasury Inspector General (IG) for Tax Administration released a report titled, “Oversight of the Low-Income Housing Tax Credit Program Can Be Improved.” The audit was initiated at the request of the previous Chairman of the…

A Little Known Employment Tax Credit May Assist Multifamily Owners

January 30, 2022

Many owners and managers of affordable multifamily housing properties are finding it difficult to find qualified staff to work either at the properties or at the main office. This problem has been around for a long time but has been…

Massive Pandemic Evictions Fail to Materialize

January 23, 2022

When the COVID-19 pandemic began in March 2020, many housing experts predicted a wave of pandemic-related evictions from our nation’s apartments. There were predictions that as many as 40 million people would be put out of their homes. The wait…

A. J. Johnson Partners with Mid-Atlantic AHMA for February Training on Affordable Housing

January 15, 2022

During the month of February 2022, A. J. Johnson will be partnering with the MidAtlantic Affordable Housing Management Association for three live webinars intended for real estate professionals, particularly those in the affordable multifamily housing field. The following live webinars…

A. J. Johnson to Offer Average Income Live Webinar

January 14, 2022

A. J. Johnson will be conducting a webinar on January 26, 2022, on Requirements & Best Practices Relating to the Average Income Minimum Set-Aside for LIHTC properties. The Webinar will be held at 1:00 PM Eastern Time. The Average Income…

IRS Extends COVID-19 Relief for LIHTC and Tax-Exempt Bond Properties

January 11, 2022

On Friday, January 14, 2022, the IRS will release a notice (2022-05) extending widespread temporary relief from certain requirements for low-income housing tax credit (LIHTC) financed and private activity tax-exempt bond-financed properties due to the COVID-19 pandemic. Extended relief will…

Child Care and Affordable Housing – A Potential “Win/Win” for Residents and Owners

January 2, 2022

A “gray rhino” is a highly probable, high-impact yet neglected threat. These are not random surprises but occur after a series of warnings and visible evidence. The bursting of the housing bubble in 2008, the aftermath of hurricanes, and the…

Expected 2022 Minimum Wage Changes

December 21, 2021

In 2022, 20 states will have new minimum wage rates. Many of the changes will take place on January 1 but some states make the change on July 1 while other states increase rates on odd schedules, such as Connecticut,…

A. J. Johnson to Host Live Webinar on The 4 Percent LIHTC Floor – IRS Revenue Ruling 2021-20.

December 12, 2021

A. J. Johnson will be conducting a one-hour live webinar on January 6, 2022, on The 4 Percent LIHTC Floor – IRS Revenue Ruling 2021-20. The Webinar will be held from 1:00 PM to 2:00 PM Eastern time. On December…

A.J. Johnson to Provide Live Fair Housing Webinar on December 29

December 9, 2021

A. J. Johnson will be conducting a webinar on December 29, 2021, on Compliance with Federal & State Fair Housing Requirements. This is A.J.’s last Fair Housing training of 2021 and is a must for individuals required to take fair…

IRS Issues Revenue Ruling on 4 Percent Tax Credit Floor

December 4, 2021

The IRS has issued Revenue Ruling 2021-20, providing clarity on when taxpayers may claim the fixed four percent credit for properties with tax-exempt bonds. The IRS addressed three separate issues relative to the 4% credit: Does the minimum 4% applicable…

Court Decision Affirms “Necessity Standard” for Reasonable Accommodations

November 27, 2021

In Carter v. Murray, 2021, WL 4192055, CIVIL ACTION NO 21-3289 (E.D. PA, September 14, 2021), the U.S. District Court for the Eastern District of Pennsylvania ruled that a tenant was not entitled to a reasonable accommodation of permanent relocation…

Progress Still Lacking in Distribution of ERAP Funds

November 21, 2021

The National Low Income Housing Coalition (NLIHC) has released findings from the organization’s latest survey of state use of funding from the federal Emergency Rental Assistance Program (ERAP). As of late September, of the approximately $25 billion made available by…

HUD Provides Fair Housing Funding to 51 Agencies

November 14, 2021

On November 3, 2021, the Department of Housing & Urban Development (HUD) awarded $13.6 million in American Rescue Plan (ARP) funding to enable 51 HUD Fair Housing Initiatives Program (FHIP) agencies to conduct a wide range of fair housing enforcement,…

A. J. Johnson to Host Live Webinar on Interviewing Skills for Affordable Housing Managers

November 13, 2021

A. J. Johnson will be conducting a webinar on November 23, 2021, on Interviewing Skills for Affordable Housing Managers. The Webinar will be held from 1:00 PM to 4:00 PM Eastern time. One of the most important skills any affordable…

A 2023 Reduction in Income Limits is Possible

November 7, 2021

The Census Bureau has announced that it will not release a one-year American Community Survey (ACS) for 2020. Without this survey, the Department of Housing & Urban Development (HUD) will almost certainly be restricted to the use of the five-year…

Claiming Low-Income Housing Tax Credit on Temporary Transfer Unit

November 6, 2021

A question that clients often ask regarding moving tenants around on acquisition rehab projects is “Can we claim the credit on both units, even though the resident will only be in the temporary unit until the rehab is done on…

California City Settles Claim of Discrimination Against Farmworkers

October 31, 2021

HUD has reached a Voluntary Compliance/Conciliation Agreement with the City of Santa Maria, CA, resolving allegations that the city’s enactment and enforcement of restrictions on housing for certain farmworker visa-holders in residential areas of the city violated the Fair Housing…

HUD Determines That Owner’s COVID-19 Visitor Policy Violated the Fair Housing Act

October 30, 2021

HUD recently signed a Conciliation Agreement/Voluntary Compliance Agreement with owners of a HUD-subsidized community in Fairhope, Alabama. The agreement resolves allegations and a HUD investigation into whether the owner’s policy prohibiting visitors under the age of 12 due to COVID-19…

A. J. Johnson to Offer Live Webinar on The Most Common LIHTC Non-compliance – Avoiding 8823s

October 16, 2021

A. J. Johnson will be conducting a webinar on October 26, 2021, on Avoiding the Most Common LIHTC Noncompliance – Remaining 8823 Free. The Webinar will be held from 1:00 PM to 2:30 PM Eastern time. Credit loss on tax…

Social Security COLA – 2022

October 13, 2021

The federal government announced on October 13, 2021, that the Social Security Cost of Live Adjustment (COLA) for 2022 will be 5.9%, which is the largest increase since 1982 when the increase was 8.7%. This increase will provide an additional…

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