The Novogradac Online LIHTC Property Compliance Workshop airs Sept. 10-12

More than 2,000 professionals have earned their NPCC. Earn yours. View Web Version ¢S NOVOGRADAC Online LTHTC Property Compliance Workshop UPDATED FOR HOTMA The Novogradac Online LIHTC Property Compliance Workshop is a 12-hour, three-day course, led by knowledgeable instructors, to provide attendees with the most up-to-date low-income housing tax credit (LIHTC) compliance knowledge and industry trends critical to owners and property managers. At the conclusion of the workshop, attendees have the opportunity to pass an exam to obtain the Novogradac Property Compliance Certification (NPCC), a certification for members of the LIHTC community. RESERVE MY SEAT CPE INFORMATION Wayne Michael  CPA, NPCC, HCCP Principal | Senior Director of Education Novogradac Helen Teal NPCC Manager of Multifamily Property Compliance Novogradac Topics Covered: * LIHTC Property Compliance Overview * Roles of IRS, state agency, HUD, investors, developers, property managers * IRS Form 8609 Line 8b and the definition of a “project” * Tax credit period, compliance period and the extended use period * Calculating credits – eligible basis, applicable fraction (treatment of exempt units), credit percentages * Minimum set-aside (40-at-60 vs. 20-at-50 vs. average income test) * Calculating recapture and disallowance of credits * Initial Lease-Up and First-Year Credits * Initial qualification of units, first-year applicable fraction vs. 12/31 applicable fraction * 15-year/two-thirds credits * Deferring Year 1 of the credit period * Tenant Certification Process * Rental applications, verification forms, * Tenant income certification (TIC) form, TIC effective date * Initial certification vs. annual recertifications * Related Rules * Available unit rule * Vacant unit rule * Transferring tenants * Full-time students * Household Income * Family size – including classification of live-in aides, foster children and adults * Defining Annual Income according to HOTMA * Income inclusions and exclusions; whose income is included * Examples – earned income, child support, seasonal work, day labor, independent contracting, regular cash contributions, self-employment, student financial assistance, nonrecurring income * Assets and Income from Assets * Asset inclusions and exclusions * Imputing income from assets and the $50,000 cliff test under HOTMA * Self-certification of net family assets * Examples – jointly owned assets, real property, necessary vs. non-necessary personal property, checking and savings accounts, retirement accounts, assets disposed of for less than fair market value * Rent * Maximum rent limit–LIHTC rent limit calculation * Deeper rent targeting * Gross rent for unit–tenant paid rent, utility allowance, other nonoptional charges * Rent assistance - Section 8 and tenant-based vouchers * State Inspections and Avoiding Recapture * State agency compliance inspections and the 8823 process * Correcting noncompliance We hope you'll join us! If you're still on the fence, view this excerpt from the Novogradac Online LIHTC Property Compliance Workshop in which instructors discuss why understanding the definition of "project" (not interchangeable with "site" or "property") is crucial to LIHTC compliance. "Whether first time attending this class or used as annual refresher (because agencies require proof of continuing education or because it's simply a great idea and you enjoy working with the tax credit program) this training is brilliant. #WouldRecommend" - Thomas Clark "The presenters were informative and entertaining. They answered questions well. They presented information in a clear way and the repetitive nature of certain concepts ensured a higher level of information retention in the students." - Astrid Tepatti, Pioneer Human Services "I really liked the pace of the slides. It didn't seem rushed and didn't drag like other classes I have taken in the past." - Tina Mitchell, Odyssey House "For an online seminar this is really good. Keeps you interested. It is very hard to talk to an audience you cannot see. I felt like I was in a classroom with interaction. Good job." - Amy McCaffrey, Berlin Housing Authority MORE TESTIMONIALS Attend this and all other online trainings for free with an ALL-ACCESS MEMBERSHIP |$*Novocotnining for your organization. See details at training.novoco.com/bundles/memb CONNECT WITH NOVOGRADAC Facebook Twitter LinkedIn YouTube zO NOVOGRADAC® Click here to learn more about the services at Novogradac This is an advertisement. Notice pursuant to IRS regulations: Any U.S. federal tax advice contained in this article is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding penalties under the Internal Revenue Code; nor is any such advice intended to be used to support the promotion or marketing of a transaction. Any advice expressed in this article is limited to the federal tax issues addressed in it. Additional issues may exist outside the limited scope of any advice provided any such advice does not consider or provide a conclusion with respect to any additional issues. This email was sent by: Novogradac 1160 Battery St. East Building, Suite 225 San Francisco, CA, 94111 |