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Novogradac Provides Insights to Delve Deeper into New Average Income Test Guidance

Friday, October 7, 2022 - 4:15PM

Novogradac offers a trove of resources for private companies and nonprofits to learn more about the new final and temporary regulations on the average-income set-aside for low-income housing tax credit (LIHTC) properties issued today by the Internal Revenue Service (IRS) and U.S. Department of the Treasury, including a new Notes from Novogradac blog post about the release. The post covers the removal of the “cliff effect” as well as the allowance of unit redesignations based on a variety of justifications and the effect of noncompliance.

Community development professionals will also have additional opportunities to learn more in the coming weeks with the Oct. 20 Examining the Updated Average Income Test Regulations Webinar as well as the Oct. 11 episode of the Tax Credit Tuesday podcast.

The guidance will be a topic of conversation at the Novogradac 2022 Tax Credit Housing Finance Conference Dec. 1-2 at the Four Seasons Hotel in Las Vegas.

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