IRS 2018-2019 Priority Guidance Plan
On November 8, 2018, the IRS released a Priority Guidance Plan for the period July 1, 2018 – June 30, 2019. This plan outlines the areas that the IRS intends to provide formal guidance on for the rest of…
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2019 Social Security COLA
person
The federal government announced on October 11, 2018 that the Social Security Cost of Live Adjustment (COLA) for 2019 will be 2.8%. This is the largest cost-of-living adjustment since 2012. The average SS check is $1,422 a month, meaning next…
Difference Between SSI and SSD
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I recently received an email from a client who indicated that their corporate Section 8 department refused to accept a verification of Supplemental Security Income (SSI) for a person under age 65 as a verification of disability. The Section 8…
Premises Liability – When Property Owners are at Risk
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One of the least understood risks that owners of multifamily properties face is the risk related to someone being injured due to a violent crime at their property. This short article is intended to provide a general overview of “premises…
Opportunity Zones Present New Development Opportunities
person
The Tax Cuts & Jobs Act of 2017 created something called “Opportunity Zones.” This is a brand new section of the federal tax code. An Opportunity Zone or “OZ” is an economically-distressed community where new investments may be eligible for…
Administration Proposing Significant Government Reorganization – Impact on Housing Programs
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The administration recently released Delivering Government Solutions in the 21st Century: Reform Plan and Reorganization Recommendation. This series of recommendations would reorganize how the federal government works and includes a number of revisions that would impact the affordable housing community.…
Additional Guidance on the Income Average Test
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In order to meet the minimum set-aside, if owners select the new Income Average test, at least 40% of the units in the project must have rents and incomes at the various designated unit income limits selected by the owner…
HUD Publishes 2018 Income Limits
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On March 30, 2018, HUD published the 2018 income limits for HUD programs as well as for the Low-Income Housing Tax Credit and Tax-Exempt Bond programs. The limits are effective on April 1, 2018. The limits for the LIHTC and…
Congressional Spending Bill Keeps Funding for Many Housing Programs
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Congress has approved a $1.3 trillion spending bill designed to provide funding for the federal government for the rest of the fiscal year, which ends September 30. The bill has been sent to the President’s desk for signature (although he…
FAST Act Interim Final Rule Effective March 12, 2018
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On December 12, 2017, HUD published an interim final rule in the Federal Register that amends the regulatory language for Public & Indian Housing PIH) and Multifamily Housing rental assistance programs. This interim rule went into effect on March 12,…
The Importance of Internal Controls
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All executives are taught the importance of “internal controls.” Unfortunately, many executives don’t fully understand what is meant by the term “internal controls.” A recent HUD audit of a Section 8 project in Port Arthur, TX serves as a reminder…
Independent Contractor or Employee – How to Tell the Difference
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Affordable housing property managers are required to verify the income of applicants and residents in order to determine both eligibility and (for some programs) rent. The most common type of income requiring verification is employment income and the most common…
Self-Employed Individuals in Affordable Housing Properties
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One of the most difficult type of income to determine for managers of affordable housing rental properties (e.g. Section 8 or Low-Income Housing Tax Credit [LIHTC]) is self-employment income. Based on the number of issues we see when reviewing the…
NCSHA Publishes 2017 Recommended Best Practices
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The National Council of State Housing Agencies (NCSHA) has updated its Recommended Practices in Housing Credit Administration for voluntary adoption by Housing Credit Agencies. The organizations first recommended practices were published in 1993, and included recommendations relative to allocation and…
HUD Delays Fair Housing Affirmative Action Rule
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In what is almost certainly the first step in elimination of the requirement that localities take proactive steps to affirmatively further fair housing, HUD is extending the deadline for submission of assessment of fair housing for Consolidated Plan Participants. This…
Correction to State Minimum Wage Increases
person
I recently published a news item on upcoming minimum wage increases across the United States. One of my clients found an error in the information for New York State and I wanted to correct the item. The correct information for…
Tips for Spotting Elder Care Abuse in Senior Housing
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I often get expressions of concern from some of my clients who own or manage housing for seniors regarding the well-being of their residents – especially in cases where there may be some type of abuse of the elderly by…
Minimum Wage Increases in 18 States
person
Happy New Year! For workers in a number of states, the new year will bring an increase in minimum wages. Many of the states already had minimum wage levels higher than the federal minimum of $7.25 per hour Owners…
Revisions to Senate Tax Bill – November 14, 2017
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It is expected that the Senate will vote on its version of tax reform after Thanksgiving. The version to be voted on will include several changes to the Low-Income Housing Tax Credit (LIHTC) program and, unlike the House bill, retains…
Comparison of House and Senate Tax Bills
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On November 9, the Senate Finance Committee released its tax plan, following the House Ways and Means Committee plan last week. Since I sent a memo on the House plan last week, I will only note the differences between the…
Tax Cuts and Jobs Act – H.R 1
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On November 2, 2017, the House Ways & Means Committee released H.R.1, “The Tax Cuts & Jobs Act.” The 429-page bill includes five sections: Tax Reform for Individuals; Repeal of the Alternative Minimum Tax (AMT); Business Tax Reform; Taxation of…
2018 Operating Cost Adjustment Factors (OCAFs) and Utility Allowance Factors Released by HUD
person
On November 2, 2017, HUD published the Operating Cost Adjustment Factors (OCAF) in the Federal Register. These factors are used for adjusting or establishing Section 8 rents under the Multifamily Assisted Housing Reform and Affordability Act of 1997 (MAHRA), as…
Financing for Multifamily Energy Conservation Improvements – the PACE Program
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A number of states and the District of Columbia have enacted legislation authorizing Property Assessed Clean Energy (PACE) programs to finance the installation of energy conservation improvements on multifamily housing projects. HUD has established standards for determining whether such programs…
Tax Reform Update – October 22, 2017
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Last Thursday, October 19, Congressional Republicans in the Senate approved a budget resolution for the 2018 fiscal year. This is the first in a long line of hurdles that must be overcome for there to be a tax bill this…
Reminder of Federal Disaster Rules Relating to Section 42
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With all the natural disasters that have occurred recently (Harvey, Irma, Maria), it is worthwhile to review IRS guidance relative to Low-Income Housing Tax Credit properties located in affected areas. Disaster Relief Rules Revenue Procedure 2014-49 This…
Tax Reform Overview – September 27, 2017
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On September 27, 2017, the Trump Administration, the House Committee on Ways and Means, and the Senate Finance Committee released “Unified Framework for Fixing Our Broken Tax Code.” This nine-page proposal put out by the “big-six” represents the first significant…
Washer and Dryer Fees for Voucher Holders
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Owners of properties that accept applicants who use Housing Choice Vouchers (HCV) need to carefully review the Housing Assistance Payments (HAP) Contract and Voucher Lease Addendum for language relating to who must pay the cost of “utilities and appliances.” A…
Required Elements of VAWA Emergency Transfer Plan
person
HUD recently published a revised form HUD-5381, “Model Emergency Transfer Plan for Victims of Domestic Violence, Dating Violence, Sexual Assault, and Stalking.” The model contains only general provisions of an Emergency Transfer Plan. Adoption of the model plan without further…
HUD Publishes Draft VAWA Notices, August 1, 2017
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HUD published a “60-Day Notice of Proposed Information Collection: Implementation of the Violence Against Women Reauthorization Act of 2013,” in the August 1, 2017 Federal Register. This notice provides four draft documents associated with VAWA, (1) form HUD 5380,…
Owner and Agent Responsibilities When Using Consumer Reports
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Owner and Agent Responsibilities When Using Consumer Reports Property owners who use background checks to screen potential residents must comply with the Fair Credit Reporting Act (FCRA) and the Federal Trade Commissions (FTC) Disposal Rule. Any report that contains information…
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Guidance
The Professional Property Manager's Guide to the Low Income Housing Tax Credit
The Professional Property Manager's Guide to the Violence Against Women Act
An easy to understand and in-depth guide written by a nationally recognized leader in affordable housing compliance, A. J. Johnson.
The Professional Property Manager's Guide to the Violence Against Women Act
Designed to provide professionals in the affordable housing industry with an easy to understand reference manual for issues related to VAWA.
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