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Despite concerns that the 2020 Income Limits might be delayed due to the coronavirus pandemic, HUD published them today with an April 1, 2020 effective date. As per Revenue Ruling 94-57, Housing Credit income limits must be implemented on the effective date OR 45 days from the … [Read more...] about 2020 Income Limits Released

On January 28, HUD released FHEO Notice 2020-01-- Assessing a Person’s Request to Have an Animal as a Reasonable Accommodation Under the Fair Housing Act -- providing new guidance when receive an assistance animal request. … [Read more...] about HUD Releases New Guidance on Assistance Animals

On January 29, the IRS published Revenue Ruling 2020-04 clarifying the determination of income limits under the LIHC program's Average Income Test. The ruling indicates we are to continue to base our income limits on HUD's very low-income limit (VLI or 50% AMGI) , specifically … [Read more...] about IRS Clarifies Income Limit Determination for Average Income Test

On October 4, NCSHA published their updated Best Practice forms for the Housing Credit Program. These were revamped with the help of several state agencies and compliance experts. The revamped forms include: … [Read more...] about NCSHA Releases Updated Housing Credit Compliance Best Practice Forms

On September 17, 2019, HUD published a proposed rule regarding HOTMA or the Housing Opportunity Through Modernization Act of 2016 and are looking for comments by November 19, 2019. … [Read more...] about Proposed Rule Released for Implementing Section 102, 103 & 104 of HOTMA