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Final Average Income Test regulations released
Last Friday, after nearly two years, the IRS and Treasury released final regulations for the Average Income Test that provide much-needed clarity to all LIHTC stakeholders. Read about key provisions and practical changes, including:
- New terms and definitions
- Minimum set-aside and applicable fraction
- Designation of units
- Next available unit rule
Select deadlines further extended
After providing temporary relief earlier this year from many key housing credit program deadlines, the IRS has now further extended some – but not all – of those deadlines and timelines, in response to labor and supply chain disruptions causing construction delays.
Capitol Connection: Housing and legislative updates
Listen in as Bob Moss and David Gasson, principals with MG Housing Strategies, join Beth Mullen, CohnReznick’s Affordable Housing practice leader, to discuss critical legislative updates for the LIHTC industry. This month’s conversation covers the backstory for last week’s new regulations and extensions (detailed in the articles linked above), as well as likely legislative priorities and timelines for the months ahead, particularly post-midterms.Tax Credit Monitor: October 2022 rates and fund performance
CohnReznick’s October 2022 Housing Tax Credit Monitor is now available. This edition features:
- Housing credit equity market update
- 27 current national and regional funds offered
- Current LIHTC pricing