Research requirements

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3 results

• federalUnited StatesLIHTCReview limitations
  Imputed asset income is counted only when net family assets exceed the HUD threshold and actual returns cannot be calculatedRequirement excerpt: Annual income includes, when the value of net family assets exceeds $50,000 — an amount HUD adjusts annually by CPI-W — and the actual returns from a given asset cannot be calculated, imputed returns on that asset at the current HUD…Read conditions and sources →
• federalUnited StatesLIHTCReview limitations
  LIHTC annual income is determined consistently with Section 8, through the chain section 42(g)(4) to section 142(d)(2)(B) to 24 CFR 5.609Requirement excerpt: Section 42 does not define income. It borrows one, and the chain matters because each link is somewhere a practitioner can lose it. IRC 42(g)(4) applies paragraphs (2) — other than subparagraph (A) — (3), (4), (5), (6) and (7) of IRC 142(d)…Read conditions and sources →
• federalUnited StatesLIHTCReview limitations
  Income certification documentation must be retained; for a household receiving Section 8 assistance a PHA statement that income is within the section 42(g) limit satisfies that requirementRequirement excerpt: The owner must keep, for each low-income tenant, documentation supporting the tenant's income certification - for example a copy of the tenant's federal income tax return, Forms W-2, or verifications of income from third parties such as…Read conditions and sources →