Tag Archive for ‘tax credits’

IRS Clarifies How to Calculate Income Limits for LIHTC Average Income Set Aside

The Internal Revenue Service recently released revenue ruling 2020-4 which instructs taxpayers how to calculate Low-Income Housing Tax Credit (LIHTC) income limits should they choose to use the income averaging minimum set-aside test to meet LIHTC eligibility and compliance requirements. This test was created by the Consolidated Appropriations Act of 2018 (the 2018 Act) to complement the existing tests established… Read More ›