CPE: LIHTC 101: The Basics Webinar

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Novogradac is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org

Learning Objectives:

  • Recall how tax credits make housing more affordable for low-income households
  • Determine approximately how many per-capita tax credits are available in states and territories in a given year
  • Identify tools lawmakers and regulators have implemented over the years to increase the number of tax credits available at the state and national level
  • Identify costs that are generally included in and excluded from the eligible basis and determine how and whether that eligible basis should receive a basis boost
  • Determine a building’s applicable fraction according to the number of residential rental units or the floor space of those units
  • Multiply the resulting qualified basis by the appropriate credit rate times 10 years to determine total tax credits
  • Identify the roles and financial motivations of the major parties involved in a tiered LIHTC ownership structure
  • Recall multiple factors that affect tax credit pricing
  • Identify the role of the qualified allocation plan in states’ allocating tax credits and monitoring compliance
  • Identify the purpose, elements, and consequence of failing the 10% test and the timing of the certificates of occupancy, final cost certification, placed-in-service package, regulatory agreement and Forms 8609
  • Differentiate between how acquisition costs and rehabilitation costs are treated regarding eligible basis boosts and applicable tax credit percentages
  • Recall the basic elements of the major tax credit rules including the minimum set-aside, income limits and rent limits
  • Differentiate between the tax credit period and the compliance period in claiming and earning credits as well as in assessing tax credit recapture risk

Level: Basic
Prerequisites: None
Advance preparation required: None
Recommended field of study: Taxes
Recommended credit hours: 3
Instructional delivery method: Group-internet based

In accordance with the standards of the National Registry of CPE Sponsors, CPE credits for this course are based on a 50-minute hour.

Failure to participate in the entire live webinar (including responding to attendance-monitoring activities) will result in partial or no CPE credit.

Note: Multiple paid registrants within an organization may choose to watch the webinar on one screen. In situations where small groups view a webinar, in order for multiple members of the group to claim CPE credit it is not necessary for the individuals in the group to respond to attendance-monitoring questions individually. The person logged in to the program may respond to the attendance-monitoring questions on behalf of the group; however, the monitoring of active participation of the individuals in the small group will be documented and verified by the small group administrator.

If you are watching the webinar in a group and wish to be eligible to claim CPE credit for multiple members of the group, please print and fill out the Small Group Sign-In Sheet (provided during the webinar) and submit it to [email protected].

Policy for addressing concerns or issues with Continuing Professional Education delivered by Novogradac & Company 

Please address any questions or concerns regarding CPE at Novogradac & Company workshops, webinars or on-demand courses to the Novogradac Products Desk at 415-356-7960 or [email protected].

Unresolved issues or concerns regarding registered CPE sponsors may be reported to the National Registry of CPE Sponsors and submitted online at www.nasbaregistry.org/cpas/complaints.

Note also that although recordings of most webinars are available for purchase, unless specifically stated, CPE is NOT available for webinar recordings.