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NAHMA LIHTC Update: IRS publishes guidance on LIHTC Average Income Test

Last week, the IRS issued guidance to clarify the process for properly computing income limits applicable to the Low-Income Housing Tax Credit (LIHTC) program using the new average income test.
IRS Revenue Ruling 2020-04
 
LIHTC - New Average Income Test Clarification
Last week, the IRS issued guidance to clarify the process for properly computing income limits applicable to the Low-Income Housing Tax Credit (LIHTC) program using the new average income test. The revenue ruling addresses the additional income limits available within this new minimum set-aside option.
 
The attached Revenue Ruling 2020-04 is available here

Juliana Bilowich, Manager of Government Affairs
National Affordable Housing Management Association
400 N. Columbus St., Suite 203, Alexandria, VA 22314
Phone 703-683-8630, ext.116 Email jbilowich@nahma.org, Website www.nahma.org
NAHMA is the leading voice for affordable housing management, advocating on behalf of multifamily property managers and owners whose mission is to provide quality affordable housing.

 

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