• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Online Training Login

Elizabeth Moreland Consulting

We Train Tax Credit Managers

  • Home
  • Compliance Certification
  • Online Training
    • Course Catalog
    • Sign up for the Free Demo Course
    • Compliance Exams and Retake Exams
    • Course Features
    • 12 Reasons to Take a Course at the Housing Credit Training Center
    • Automatic Training System
    • Unlimited Training Subscription
    • State Agency Staff Receive FREE Training
    • NCP Professional Development Center
    • Specialized Solutions for:
      • Individual Students
      • Small and Medium Companies
      • Large Companies
  • Live Training
    • Live Training Options
    • 2019 NCP Conference A Success!!
    • Schedule
  • Products & Services
    • Online Resources
      • NCP Professional Development Center
      • Unlimited Training Subscription
    • Forms & Systems
      • LIHTC Certification Processing Kit
      • Solving the Eligibility Puzzle… Five Steps for Determining Eligibility 2013 Edition
      • LIHTC Policy & Procedure Boot Camp-In-A-Box
    • Books, Special Reports & Newsletters
      • The Compliance Monitor
      • Practical Solutions for Managing Tax Credit Developments
      • LIHTC Certification Study Guide
    • Services
      • Tax Credit Compliance Coach
  • NCP Membership
    • NCP Mission Statement
    • Becoming A NCP Member
    • Membership Application (pdf)
    • NCP Membership FAQs
    • NCP Membership Renewal
    • NCP Professional Development Center
    • National Compliance Professional Directory
  • LIHTC Resoures
    • Latest News
    • Hot Topics
    • Archive
  • Contact Info and W-9
    • Contact Us
    • Email Alerts

IRS Reduced Minimum Number of Units for Property Inspection

July 1, 2020 By Elizabeth

The IRS released proposed regulations in regards to Housing Credit Program monitoring requirements, returning to a previous standard of required inspection of the lesser of the applicable REAC number of 20% of the low-income units in the development.

The proposed monitoring regs returns the required number of units to be inspected to the amount required before the temporary regulations were issued & finalized in 2019. Those regulations mandated that agencies inspect at least as many units as the number specified for properties of the relevant size in the REAC numbers, which sometimes exceeded 20%. The proposed regulations allow agencies to inspect the lesser of the applicable REAC number or 20%. The regulations allow agencies to rely on the proposed regulations from Feb. 26, 2019, until Dec. 31 of the calendar year after the regulations are published as final regulations.

Despite the proposed nature of these regulations, the regulations are effective immediately. IRS will gather comments in the meantime. Comments on the proposed regulations will be accepted until 60 days after the regulations are published in the Federal Register.

CLICK HERE
to obtain copy of the Federal Register

Filed Under: Latest News

Primary Sidebar

Elizabeth L. Moreland
NCP-E, SCS, HCCP, SHCM, FHC

My goal, quite simply, is to prevent people from feeling overwhelmed by the program rules and all of the responsibilities that come with managing a Housing Credit property like I was when I was in the field! It was so frustrating! So when I started Elizabeth Moreland Consulting, I vowed to make a difference and to help people become Compliance Confident!“

  • Facebook
  • LinkedIn

Frequently Asked Questions

  • How do I receive industry email updates?
  • How do I get compliance training?
  • How do I learn the Tax Credit rules?
  • How do I know what class to take?
  • How do I train my team?
  • How can I obtain continuing education?
  • How do I view your Course Catalog?
  • How do I get certified in compliance?
  • How do I order copies of my training or designation certificates?
  • How do I retake an exam?
  • How do I learn more about the Site Compliance Specialist designation?
  • How do I learn more about the National Compliance Professional designation?
  • How do I renew my NCP designation?
  • How do I put Elizabeth on our team?
  • How do I obtain Elizabeth’s reference guides?
  • How do I get forms for processing applications?
  • How do I write my compliance policies & procedures?
  • How do I order your newsletter?
  • How do I attend the Annual NCP Conference?
  • How do I learn more about Elizabeth?
  • How do I obtain a W-9?

Elizabeth Moreland Consulting, Inc.
6907 University Ave, Suite 196
Middleton, WI 53562

TOLL FREE PHONE:
800-644-0390

TOLL FREE FAX:
800-466-5689

EMAIL:
[email protected]

Categories

  • Conference Offers
  • Hot Topics
  • Latest News
  • NCP Offers
  • Old Stuff
  • Online Training Offers
  • Special Offers

Who Is Elizabeth Moreland?

Elizabeth is the affordable housing industry’s most sought after speaker, trainer and consultant due to her dynamic speaking style, concrete understanding of the various affordable housing programs’ rules and nuances, and sense of humor & style in delivering such information and advice. As the President of Elizabeth Moreland Consulting, Inc. and the Housing Credit Training Center, Elizabeth has taught thousands and thousands of industry professionals from across the country. Much of her expertise is garnered from her years in the trenches of property management working with all types of housing including Housing Credits, HUD Section 8, HOME, Bond, special needs, students and conventional. She has held practically every position in this field and has over 25 years of experience, so her advice and teachings are realistic and proven in the real world of affordable housing!
Read More… about Who Is Elizabeth Moreland?

Copyright © 2021 · Elizabeth Moreland Consulting, Inc. · All Rights Reserved