As a LIHTC site owner or manager, it’s important to be aware of Housing Opportunity Through Modernization Act (HOTMA) provisions since the legislation deals with reforms to the Section 8 Housing Choice Voucher program. And although the HOTMA legislative text or HUD regulations concerning...
In dealing with the constraints imposed by the pandemic, many state housing agencies have successfully transitioned to virtual household file reviews. The IRS’ recent notice reflects this reality in splitting compliance-monitoring requirements for household file reviews from the...
An applicant or household isn’t qualified for a low-income unit at your site unless you have the verifications to prove it. Owners and managers must make sure that every source of income that a household reports is verified. If you accept a household without verifying all its income, the...
Explosive growth in ride-hailing services such as Uber and Lyft are attracting more and more drivers. These drivers earn extra income with the benefit of working flexible hours. According to recent research by JPMorgan Chase Institute, from late 2013 to this spring, the number of households...
Many household members get Social Security, Supplemental Security Income (SSI), or other government benefits. To certify and recertify households correctly, you must count these benefits as part of a household’s income and verify the amounts with the appropriate government agency [HUD...
Last month, the Insider discussed how to determine whether an absentee's confinement in a hospital or nursing home is temporary or permanent. Problems with noncompliance can arise if you don't count the income of an absentee who should be considered a member of the household....
Sometimes verification sources don't return the forms that you send them to verify certain information such as a household member's income or student status. In these situations, you must try to verify the information by telephoning the sources. To stay in tax credit compliance, you'...
Many managers assume that applicants with Section 8 vouchers are automatically eligible for tax credit housing. Unfortunately, this is not always the case. Households that are eligible for Section 8 assistance may not be eligible for tax credit housing. Or, if eligible, they may not be able to...
Underdocumenting income is one of the most common errors site managers can make when certifying or recertifying households, according to Barbara Crook, compliance director for Affordable Housing Support Services, an affordable housing compliance consulting firm in Littleton, Colo.
