State Agency reviews and IRS scrutiny of Section 42 Low-Income Housing Tax Credit properties continues to intensify and compliance requirements are now more complex than ever.
As a manager, owner, or investor in tax credit properties, you have a responsibility to protect this major investment and maintain the high standards of the Section 42 program. The best way to do this is by ensuring that you and your staff understand the compliance requirements of the Low-Income Housing Tax Credit program.
The Professional Property Manager’s Guide to the Low-Income Housing Tax Credit Program helps you do just that. The 2019 edition of this popular, easy to read desk reference is now available.
The Guide is fully up to date, including updated law from the Housing & Economic Recovery Act of 2008, changes from HUD Handbook 4350.3, Change 4, and current IRS guidance from the IRS 8823 Guide. The book contains a full description of HUD required income exclusions and inclusions and complete discussions of assets, student rules, employee units, and how to handle vacant units.
This year’s edition has been significantly expanded to include advanced areas of tax credit compliance, including a full discussion of eligible basis issues, acquisition/rehabilitation of tax credit properties, commercial activities, and rules relating to Extended Use Agreements.
The Professional Property Manager’s Guide to the Low-Income Housing Tax Credit Program has been written by A. J. Johnson, recognized as one of the nation’s leading experts in the area of tax credit compliance and multifamily housing. Mr. Johnson provides training to hundreds of housing professionals each year on compliance techniques and his company reviews more than 250 properties annually for tax credit compliance. Lessons learned through this practical experience are passed on in this Guide.
Written in plain English, to the point, and affordable, the Guide will not confuse you with legal jargon or strange tax terms. What you will get is easy to understand advice on how best to comply with the requirements of this very complicated program. There is even advice on how best to organize your files for efficient review by State auditors and management personnel.
No tax credit property should be without this publication, and at only $79.99, this copyright protected book is an easily affordable project expense.
The Guide is available in a fully searchable PDF immediately upon purchase. You will also receive an email with instructions for downloading the Guide.