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Further IRS Extensions and Waivers to Affordable Rental Housing Projects as COVID-19 Persists

Summary - The IRS has extended certain deadlines relating to affordable housing projects with Low Income Housing Tax Credits (LIHTC) under Section 42 of the Internal Revenue Code of 1986, as amended (the Code) or financed...more

IRS Clarifies Eligibility of Buildings Financed with Bonds Issued Pre-2021 for 4% LIHTC Minimum Rate

Summary - The IRS released Revenue Ruling 2021-20 and Revenue Procedure 2021-43 to address uncertainty about whether the minimum 4% applicable percentage (4% minimum rate) under the federal income tax code applies to...more

HUD Secretary States: RAD – “We need to lift the cap”

At the National Housing Conference 2017 Annual Policy Symposium on June 9, 2017, HUD Secretary Ben Carson delivered the keynote address and participated in a Q&A session with Chris Estes, President and CEO of NHC. While much...more

Request for IRS Guidance on LIHTC Issues

Last week at the annual meeting of the American Bar Association Forum on Affordable Housing and Community Development (Forum), Michael Novey, Associate Tax Legislative Counsel, Office of Tax Policy, U.S. Department of the...more

House tax extender package bolsters Low-Income Housing Tax Credit and New Markets Tax Credit programs

On Wednesday, December 3, 2014, the House of Representatives passed a one-year tax extender bill that will shore up two key housing and community development programs. The Tax Increase Prevention Act of 2014 (H.R. 5771) (the...more

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