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A. J. Johnson
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Costs Included In Eligible Basis

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A. J. Johnson
  The next few articles in this series of articles on the IRS Audit Guide will focus on the important issue of Eligible Basis, the beginning point for the calculation of credits. This first article will discuss the costs that…

No Increase in 2016 Social Security Rates

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A. J. Johnson
The federal government announced today that the Social Security Cost of Living Adjustment (COLA) for 2016 will be zero. This means that there will be no change in the Social Security income of SS recipients for the upcoming year. Owners…

Allocations Under the Nonprofit Set-Aside – IRS Requirements

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A. J. Johnson
IRC Section 42(h)(5) requires that a portion of each states annual credit ceiling be set aside for allocation to projects involving qualified nonprofit organizations. Specifically, the Code requires that not more than 90% of the state housing credit ceiling for…

The IRS and Extended Use Agreements

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A. J. Johnson
The IRS and Extended Use Agreements   As outlined in §42 (h) (6), all LIHTC properties allocated credits after 1989 must have an extended use agreement (EUA). The agreement is entered into by the taxpayer and the Housing Credit Agency…

HUD Clarification on HOME Rental Requirements

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A. J. Johnson
HUD recently provided guidance on components of the HOME program that have raised questions. Following are the clarifications that apply to the use of HOME funds with multifamily housing. HOME funds cannot be used in public housing units that receive…

Determining the Cash Value of and Income from Annuities

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A. J. Johnson
Determining the Cash Value of and Income from Annuities   There is some confusion among managers of affordable rental housing regarding how to determine the value of and income from annuities. Part of the confusion is the result of a…

Section 42 Audit Guide- Techniques Used During Audit

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A. J. Johnson
Audit Guide Chapter 3- Techniques Used During Audit   The IRS audit process includes the accumulation of evidence for evaluating the accuracy of a taxpayer’s tax return. Evidence includes taxpayer testimony, books and records, examiner observations, and third party documents.…

HUD Moving Aggressively on Affirmatively Furthering Fair Housing

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A. J. Johnson
The Department of Housing and Urban Development (HUD) is moving forward aggressively with the departments new “Affirmatively Furthering Fair Housing” campaign to desegregate the country’s primarily white neighborhoods. Rockford, IL will be an early test for HUD’s ability to impose…

Assistance Animals – A Reminder on What is Required

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A. J. Johnson
On July 15, 2015, HUD charged the owners and manager of Viking Villas, a 36-unit apartment complex in Sioux Falls, SD, with a violation of the Fair Housing Act for refusing to grant a reasonable accommodation to a disabled resident…

GAO Recommends Joint HUD – IRS Oversight of LIHTC Program

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A. J. Johnson
Responding to a request from Senator Charles Grassley, Chairman of the Senate Judiciary Committee, the Government Accountability Office (GAO) as performed a review of the oversight and administration of the Low-Income Housing Tax Credit (LIHTC) Program. The results of the…

Affirmatively Furthering Fair Housing – HUD Final Rule

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A. J. Johnson
On July 8, 2015, the Department of Housing & Urban Development (HUD) issued a final rule on the procedures that must be followed by localities with regard to affirmatively furthering fair housing. The rule directs HUD program participants to take…

RAD – Revised Program Notice PIH-2012-32, REV-2

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A. J. Johnson
On June 26, 2015, HUD published a Notice in the Federal Register revising some of the rules of the Rental Assistance Demonstration (RAD) Program. HUD’s original notice on the program was published on June 26, 2012. The RAD program provides…

HUD Guidance on First Amendment Conflict with Fair Housing

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A. J. Johnson
HUD Guidance on First Amendment Conflict with Fair Housing   The Department of Housing & Urban Development (HUD) published Notice FHEA-2015-01 on May 26, 2015. The title of the Notice is Substantive and Procedural Limitations on Filing and Investigating Fair…

Supreme Court Decision on Disparate Impact, June 25, 2015

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A. J. Johnson
Supreme Court Rules on Disparate Impact   On June 25, 2015, the United States Supreme Court issued a landmark ruling on Texas Department of Housing & Community Affairs v. The Inclusive Community Project, Inc. The ruling found that housing policies…

Nonprofit Material Participation Requirements

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A. J. Johnson
Section 42 (h) (5) of the Internal Revenue Code requires that Housing Finance Agencies set aside at least ten percent of their annual allocation for use by non-profit entities. This “non-profit pool” is available only to Qualified Nonprofit Organizations and…

RHS and HUD Merger Potential

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A. J. Johnson
During a recent hearing before a House Financial Services panel, a representative of the Federal Housing Administration (FHA) and Housing & Insurance Subcommittee Chair Blaine Luetkemeyer (R-MO) argued that the Rural Housing Service (RHS) should be moved from the Department…

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Guidance

The Professional Property Manager's Guide to the Low Income Housing Tax Credit

An easy to understand and in-depth guide written by a nationally recognized leader in affordable housing compliance, A. J. Johnson.


The Professional Property Manager's Guide to the Violence Against Women Act

Designed to provide professionals in the affordable housing industry with an easy to understand reference manual for issues related to VAWA.

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