Posts by A. J. Johnson

  1. Home
  2. chevron_right
  3. A. J. Johnson
  4. (Page 31)

Avoid Lease Addendums Regarding Second Hand Smoke

In Upper East Lease Assoc, LLC v. Cannon, January 2011, an owner sued a resident for unpaid rent. The resident claimed that the owner had violated the warranty of habitability by allowing secondhand smoke to infiltrate from a downstairs neighbor.…

TCAP Grants Considered Income By IRS

In Chief Counsel Advisory (CCA) 201106008, issued December 3, 2010, the Office of Chief Counsel of the IRS stated that because the American Recovery and Reinvestment Act of 2009 (the Recovery Act) did not specifically exclude Tax Credit Assistance Program…

State Agencies Getting Tough on Developers

Agencies in a number of states have tightened the requirements for developers with regard to being eligible to apply for tax credits. Iowa, Texas, and Florida have all added requirements that expand the ways applicants may be deemed ineligible for…

State Allocating Agency Priorities for 2011

A review of the Qualified Allocation Plans (QAPs) of the State Allocating Agencies indicates some new priorities and directions for a number of states with regard to the Low-Income Housing Tax Credit Program. For example, the Massachusetts Department of Housing…

HUD/IRS Agree on Protocols for Physical Inspections

The Internal Revenue Service and HUD have reached a preliminary agreement that will allow HUD REAC inspections to satisfy IRS physical inspection requirements for tax credit properties with project-based Section 8 assistance. Also, HUD will be able to rely on…

Red Flags Rule

The Federal Trade Commission (FTC) has issued a new rule that goes into effect on January 1, 2011, called the “Red Flags Rule.” This rule requires certain businesses to develop written plans to fight identify theft. The Red Flags Rule…

IRS Priorities for 2011

The IRS and Treasury Department will give priority to issuing guidance on a number of issues relating to the Low-Income Housing Tax Credit Program in 2011…

Menu