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Poverty Guidelines Published by HHS – Income Limits to Follow

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A. J. Johnson
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…

E-Book on LIHTC Compliance Now Available

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A. J. Johnson
As you well know, the federal low-income housing tax credit program is complicated. Staying in compliance with all of the program’s rules – and successfully interpreting the gray areas – is essential for all of the players involved in projects:…

Importance of Regular Review of Company Handbooks & Policies

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A. J. Johnson
Many property management companies create operations and compliance handbooks and policies to assist staff in understanding the company’s operational procedures. Once completed, the handbooks and policies are rarely (if ever) reviewed and updated. A periodic audit of a company’s employment…

2014 Year End Legislative Efforts

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A. J. Johnson
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…

Citi Bank Loan Program

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A. J. Johnson
Developers looking to put together LIHTC deals in California, New York, Illinois, Massachusetts, Delaware, Washington DC, and Florida have a new financing option available to them.   Citi Bank has released guidance for its new affordable rental-housing program – The…

HUD REAC Rules Updated (August 12, 2014)

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A. J. Johnson
HUD released HUD Compilation Bulletin on August 12, 2014, providing updated guidance to REAC inspectors regarding when certain areas of properties are not to be inspected for REAC purposes and changing the way certain inspection elements will be reviewed. These…

General Partner Removal – Rights of the Limited Partner

person
A. J. Johnson
The Delaware Supreme Court recently decided a case important to investors and developers of Low-Income Housing Tax Credit housing. The case (DV Realty Advisors LLC v. Policemen’s Annuity and Benefit Fund of Chicago, DEFAX Case No. D65838 {Del. 2013}), is…

Hobby vs. Self-Employment

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A. J. Johnson
As managers of affordable housing, we are often faced with applicants and residents who refer to themselves as “self-employed,” but are unable to adequately document their income. Such individuals are not generally considered self-employed since persons who are self-employed are…

Promise Zones Offer Potential for Affordable Housing

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A. J. Johnson
In the 2013 State of the Union address, the President announced the creation of “Promise Zones. (PZ)” The goal of these zones is to provide a mechanism for a partnership between the federal government and local governments in order to…

IRS Approves Same-Sex Marriage for Tax Purposes

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A. J. Johnson
Yesterday, I sent you an email that the IRS had not yet decided whether to recognize same-sex marriage for purposes of filing a joint federal tax return. I also indicated that I believed this was clearly contrary to the Supreme…

New Veteran Preference for New Jersey Properties

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A. J. Johnson
Governor Chris Christie recently signed into law legislation that will expand access to affordable housing for New Jersey veterans.  This new program allows owners of affordable housing to give a preference for veterans by entering into a preference agreement with…

Bipartisan Policy Center Recommendations

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A. J. Johnson
The Bipartisan Policy Center was founded in 2007 by former Senate Majority Leaders Howard Baker, Tom Daschle, Bob Dole, and George Mitchell for the purpose of developing and recommending sound solutions to national problems. The Center has recently issued a…

HUD Creates Fair Housing App for iPhone and iPad

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A. J. Johnson
            On February 28, 2013, HUD released a housing discrimination mobile application for iPhone and iPad. The App is designed to provide the public with a quick and easy way to file housing discrimination complaints and…

HUD Changes Income Verification Rules for PHAs

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A. J. Johnson
HUD has issued Notice PIH 2013-3, establishing temporary guidelines for public housing agencies (PHAs) in fulfilling certain public housing and Housing Choice Voucher program requirements during this period of decreased resources available to PHAs. It offers PHAs four options that…

IRS Priorities for 2013 Relating to LIHTC

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A. J. Johnson
During 2013, the IRS will review various issues under Section 42 of the IRC, including the following:   Guidance relating to the application of the design and construction accessibility requirements under the Fair Housing Amendments Act of 1988. Issues relating…

Effect of Sequestration on Affordable Housing

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A. J. Johnson
As anyone who watches the news knows, if Congress does not act by March 1, 2013, sequestration will kick in. When people talk about sequestration, or “sequester cuts, they are referring to a series of draconian budget cuts, totaling $1.2…

Section 45L Energy Tax Credit

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A. J. Johnson
Section 45L Energy Tax Credit   When Congress passed the American Taxpayer Relief Act of 2012, it extended the Section 45L tax credit, which provides eligible contractors of homes -including apartments -, with a tax credit of $2,000 per energy…

Sign Posting Requirements

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A. J. Johnson
Every few years I like to remind clients of the various requirements relating to the sign posting requirements for companies in the property management business. Failure to post the signs can cost as much as $10,000 per violation, so it…

A. J. Johnson Consulting to Introduce Pre-MOR Review Service

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A. J. Johnson
A.  J. Johnson Consulting Services will begin offering a new service in January 2013. This service will be conducting pre-MOR reviews for properties with project-based Section 8 assistance. Those properties subject to HUD and Contract Administrator review will benefit from…

The Importance of Cost Segregation Studies

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A. J. Johnson
Cost segregation is the process of examining all the physical components of a property and classifying them based on their life expectancy for tax purposes. A major tax court case (AmeriSouth v. Commissioner (TC Memo 2012-67), March 2012) has resulted…

Online Training

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Guidance

The Professional Property Manager's Guide to the Low Income Housing Tax Credit

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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