Novogradac & Company Llp

The U.S. Department of Housing and Urban Development (HUD) recently announced it would use 2021 American Community Survey data to determine fiscal year (FY) 2023 income limits, which are used to determine who can live in properties financed with low-income housing tax credits (LIHTCs). In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Thomas Stagg, CPA, parse several types of information following the announcement: What stakeholders working in LIHTCs and community development know at this stage in the annual process of determining income limits, what they know they don't know and also how to best prepare for unknown challenges on the horizon.