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The IRS and Extended Use Agreements

The IRS and Extended Use Agreements   As outlined in §42 (h) (6), all LIHTC properties allocated credits after 1989 must have an extended use agreement (EUA). The agreement is entered into by the taxpayer and the Housing Credit Agency…

Section 42 Audit Guide- Techniques Used During Audit

Audit Guide Chapter 3- Techniques Used During Audit   The IRS audit process includes the accumulation of evidence for evaluating the accuracy of a taxpayer’s tax return. Evidence includes taxpayer testimony, books and records, examiner observations, and third party documents.…

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 primarily white neighborhoods. Rockford, IL will be an early test for HUD’s ability to impose…

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 of the Low-Income Housing Tax Credit (LIHTC) Program. The results of the…

Affirmatively Furthering Fair Housing – HUD Final Rule

On July 8, 2015, the Department of Housing & Urban Development (HUD) issued a final rule on the procedures that must be followed by localities with regard to affirmatively furthering fair housing. The rule directs HUD program participants to take…

HUD Guidance on First Amendment Conflict with Fair Housing

HUD Guidance on First Amendment Conflict with Fair Housing   The Department of Housing & Urban Development (HUD) published Notice FHEA-2015-01 on May 26, 2015. The title of the Notice is Substantive and Procedural Limitations on Filing and Investigating Fair…

Supreme Court Decision on Disparate Impact, June 25, 2015

Supreme Court Rules on Disparate Impact   On June 25, 2015, the United States Supreme Court issued a landmark ruling on Texas Department of Housing & Community Affairs v. The Inclusive Community Project, Inc. The ruling found that housing policies…

Federal Preemption of State Landlord-Tenant Law

A recent ruling by the Wisconsin Supreme Court reaffirms the constitutional doctrine of Federal preemption. In Milwaukee City Housing Authority v. Cobb, March 2015, the Milwaukee Authority sued to evict a resident because he had violated the terms of his…

Understanding Military Income and Allowances

I get many questions from managers regarding how to deal with and verify income for members of the military. Understanding the military pay system is confusing even for those in the military; it can be impossible for persons not familiar…

2015 Income Limits

On March 6, 2015, HUD published the 2014 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits for the LIHTC and Bond projects are published separately from the limits…

Poverty Guidelines Published by HHS – Income Limits to Follow

On January 22, 2015, the U.S. Department of Health & Human Services published the 2015 Poverty Guidelines in the Federal Register. These guidelines are used to determine financial eligibility for certain federal programs, including HUD Subsidized housing programs. HUD had…

Documents to Retain for LIHTC Projects

Documents to Retain for Low-Income Housing Tax Credit Projects   In September 2014, the IRS published the Audit Guide for Low-Income Housing Tax Credit Projects. This guide is intended to assist IRS agents during an examination of a Section 42…

2014 Year End Legislative Efforts

As always, the end of the year brings intense legislative activity in Washington. Recent actions affecting housing include the following:   House Tax Extender Package The House passed the Tax Increase Prevention Act of 2014 on December 3, which will…

New Staff Member for A. J. Johnson Consulting

It is with great pleasure that I announce the addition of a new full time staff member to A. J. Johnson Consulting Services, Inc. Effective February 1, 2015, Linda Moss will be joining us as a Compliance Analyst.   We…

Social Security COLA Announced

The federal government announced on October 22, 2014 that the Social Security Cost of Live Adjustment (COLA) for 2015 will be 1.7%. This will increase the monthly pension for the average retired worker by $22 per month. This is up from…
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