Recent News
The Internal Revenue Service today released Rev. Proc. 2020-23, which allows partnerships to amend 2018 and 2019 tax returns, in some circumstances, in order to take advantage of bonus depreciation changes in the Coronavirus Aid, Relief and Economic Security (CARES) Act as well as any other tax attributes to which the partnership is entitled by law.
The California Tax Credit Allocation Authority announced several scheduling and deadline changes for low-income housing tax credit (LIHTC) developments in the state due to the COVID-19 pandemic.
Legislation signed into law in Utah allows state and federal low-income housing tax credits to be transferred and provide a one-time extra allocation to the Olene Walker Housing Fund. Under S.B.
The National Low Income Housing Coalition (NLIHC) today released an analysis showing that Congress must invest up to $100 billion over the next year to keep lowest-income households stably housed in the wake of the COVID-19 pandemic.
The U.S. Department of Housing and Urban Development (HUD) today posted income limits to determine eligibility for HUD-assisted programs in fiscal year 2020. The limits are effective April 1 (Wednesday) and cover public housing, Section 8, Section 202 and Section 811. HUD simultaneously released Multifamily Tax Subsidy Program income limits for 2020, which are used to determine eligibility for low-income housing tax credit and tax-exempt bond properties.
