On Oct. 13, the Social Security Administration (SSA) announced that the Social Security and Supplemental Security Income (SSI) benefits for approximately 70 million Americans will increase 5.9 percent in 2022. This is the largest increase in 40 years.
If you manage a mixed-income site, you’re probably gearing up to kickstart annual recertifications as a result of the expiration of IRS Notice 2021-12. This notice temporarily postponed the income recertification requirement for owners until Sept. 30.
In January, the IRS issued Notice 2021-12, which temporarily postponed a number of compliance deadlines for LIHTC sites. The extension deadline is coming up and owners and managers need to be mindful of how this will affect...
Earlier this year, President Biden made headlines as he introduced a $2 trillion infrastructure plan, titled “The American Jobs Plan,” to rebuild America’s infrastructure and revitalize the economy. With the federal moratorium on housing eviction ending in July, the majorities...
While collecting security deposits can provide financial protection to site owners from residents who cause property damage, security deposits can also become a liability to them if they aren’t handled properly. Owners must be careful about where they keep the money residents give them as...
National origin discrimination often involves individuals with limited English proficiency (LEP).
The tax credit rules make clear that if any units at your site aren’t “for use by the general public,” those units aren’t eligible for tax credits. To...
In April, the Biden administration submitted to Congress the president’s priorities for fiscal year 2022 discretionary spending. The request reveals the administration’s priorities with regard to affordable housing. Along with seeking a significant expansion of rental assistance, the...
HUD’s Office of Multifamily Housing Programs recently issued guidance regarding the treatment of unemployment benefits under the 2021 Consolidated Appropriations Act and the monthly child tax credit under the American Rescue Plan of 2021 (ARPA).
Lawmakers recently reintroduced the latest reiteration of the Affordable Housing Credit Improvement Act (AHCIA) in the House and Senate with bipartisan support. The Senate and House versions of the AHCIA are identical companion bills. The AHCIA was first introduced in 2016, and its most recent...
On April 1, HUD released the 2021 income limits for the Multifamily Tax Subsidy Projects (MTSP) housing programs. MTSPs, a term coined by HUD, are all Low-Income Housing Tax Credit projects under Section 42 of the Internal Revenue Code and multifamily projects funded by tax-exempt bonds under...
We’ll answer seven FAQs to help you steer clear of discrimination claims.
When dealing with prospects and residents who use wheelchairs, it’s important to avoid violating the Fair Housing Act (FHA), which bans discrimination against people on the basis of...
