Novogradac LIHTC 101: The Basics On-Demand Course

Instuctor

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Wayne Michael, CPA, NPCC, HCCP
Director of External Education
Novogradac & Company LLP

Course Description

This course presents a basic overview of the low-income housing tax credit (LIHTC) program, primarily as it relates to the rental property generating the tax credits at the “lower tier” operating partnership.

Example of Instruction Delivery

     

Outline

  • Overview of affordable housing
  • Intro to Internal Revenue Code Section 42 and LIHTCs
  • Example tax credit calculation
  • The 9% tax credit floor as updated by the American Taxpayer Relief Act
  • The 9%, competitive tax credit pool and states’ QAPs
  • The tax credit application
  • Credit reservation
  • Carryover allocation and the 10% test
  • Typical LIHTC partnership structure
    • Investor, syndicator, developer, fund, operating partnership
  • Investor equity contributions and credit pricing
  • Construction completion, certificates of occupancy, lease up
  • Program rules
    • “20 at 50” and “40 at 60” minimum set-asides, income limits, rent limits
  • Placed-in-service package, Forms 8609
  • Earning and claiming tax credits
    • 10-year credit period, 15-year compliance period
  • Noncompliance and credit recapture
  • Contrasting 9% deals against 4% deals
  • Nuances of “acq/rehab” deals and claiming tax credits

CPE Information

Screenshot of User Interface

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Target Audience

This course is designed for those new to low-income housing tax credits as well as for those who’ve worked in the industry for a few years and are looking for a refresher on how their area relates to other parts of the “big picture.”

Terms and Conditions

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Registration Rates

Standard: $100
Nonprofit: $90
Multiple Registrations: $90/person ($80/person for nonprofits)

Access to Novogradac on-demand courses expires after one month. A two-week extension may be purchased for $25. Read more under Terms and Conditions above.

$100.00