The Internal Revenue Service updated the Audit Technique Guide (ATG) for the low-income housing tax credit program. IRS examiners use this guide to audit LIHTC property owners.
The guide was most recently updated in September 2014, which was its most significant update in 15 years.
HUD’s Office of Recapitalization, Special Applications Center (SAC), Voucher Program and field operations will be available to answer questions about repositioning – particularly questions that other PHAs would benefit from having HUD staff address in a live recorded webinar from 1 to 3 p.m. ET on May 15.
House Ways and Means Chair Jason Smith (R-MO) announced the establishment of ten “Tax Teams,” made up of Republican members of the committee, that will each focus on a specific aspect of tax policy to prepare for what is expected to be major tax legislation next year in advance of the expiration of many provisions from the 2017 Tax Cuts and Jobs Act.
During her testimony before the House Ways and Means Committee Treasury Secretary Janet Yellen said, “President Biden and I are taking additional actions to bring down the cost of key household expenses like energy, prescription drugs and housing.”
In the Senate Appropriations Committee, the Transportation, Housing and Urban Development, and Related Agencies subcommittee held a hearing to review the President’s FY 2025 HUD budget request.