Feature
February 26, 2024
Four new types of income will no longer impact eligibility calculations.
Specific sources of income are excluded by federal statute from consideration as income for purposes of determining eligibility for, or benefits in, a HUD program. By extension, these income exclusions also apply...
Compliance
February 26, 2024
Minor changes may indicate more significant updates to come.
The IRS recently issued updated guidance for completing Form 8823, the form used by state and local LIHTC agencies to notify the IRS in the event of noncompliance or building disposition. The Guide for Completing Form 8823...
Dealing with Households
February 26, 2024
Like most owners, you probably include some residency requirements in your leases and some in your site rules. But if you include a requirement in the wrong place, you could create confusion and face enforcement problems. To help you avoid such problems, we’ll tell you which requirements...
Feature
January 31, 2024
Income limit increases will be capped at 10%.
On Jan. 10, HUD published a notice on changes the agency is intending to make to the methodology used for calculating Section 8 income limits. HUD publishes these income limits each year based on changes to each housing area’s median...
Compliance
January 31, 2024
As a site owner or manager, it’s a good idea to check the interior common areas of your tax credit site regularly for safety hazards. If you find problems, you must immediately correct them, or risk legal liability for any potential injuries to residents, their guests, or visitors to the site...
