Month: June 2018

On June 20, 2018, HUD published an advanced notice of its proposed rule inviting comments on HUD’s 2013 Implementation of the Fair Housing Act’s Discriminatory Effects Standard final rule as it seeks to determine what changes to the rule, if any, may be needed to reflect the outcome of the 2015 Supreme Court case Texas […]

In mid-June 2018, the Trump Administration released a report — Delivering Government Solutions in the 21st Century —  calling on Congress to reorganize the federal government’s executive agencies in an effort to streamline government operations. The plans call for the transfer of various federal programs to different agencies and the merger of federal agencies, some […]

In response to IRS’ request for comments, NCSHA recommended various Housing Credit and bond related issues be included in the Services’ 2018-2019 Priority Guidance Plan. The IRS’s Priority Guidance Plan identifies projects IRS intends to work on in the next year. The 2018-2019 plan describes the items the Service plans to work on during the […]

In May 2018, Treasury designated qualified opportunity zones (OZs) in all states & territories but Florida, Nevada, Pennsylvania and Utah. On June 14, 2018, these final 4 states had their opportunity zones designated which means all 50 states, the District of Columbia and the 5 U.S. territories (American Samoa, Guam, Northern Mariana Islands, Puerto Rico and […]

On June 13, 2018, the NCSHA submitted a letter to the Treasury Department and the IRS in regards to the new income averaging minimum set-aside option in the hopes to ensure its successful implementation. State Agency Implementation In the letter, NCSHA indicates that some State Allocation Agencies are already working to establish procedures so owners […]

On May 31, 2018, the IRS published a newly revised 8609 form providing the option to choose the new income averaging minimum set aside under the Housing Credit program. The instructions for the form are still not updated nor has the IRS Form 8823.