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[Replay] Casualty Loss, Credits & LIHTC Best Practices...Oh My!

Council Member:
$0.00
Designee
$0.00
NAHB Member:
$19.00
Non-member:
$39.00

In this webinar, attendees will learn about LIHTC property credit loss and recapture, as well as the related differences between casualty loss, a presidentially declared disaster loss, units in the turn process, and units in general disrepair.

 

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In this webinar, attendees will learn about LIHTC property credit loss and recapture, as well as the related differences between casualty loss, a presidentially declared disaster loss, units in the turn process, and units in general disrepair. The ways in which each of these events could result in credit loss and/or recapture, as well as the impact of IRS Notices 2022-05 & 2022-52, will be discussed. Attendees will also learn about best practices and the importance of reporting these events to their state agency and investor partners.

 

What You’ll Learn:

  • Understand how casualty losses impacts unit status at year-end and how this can affect tax credits.
  • Identify the difference between a unit with casualty loss, a presidentially declared disaster loss, units in the turn process, and units in general disrepair.
  • Learn about how IRS Notices 2022-05 & 2022-52 impact casualty loss and disallowance of credit for LIHTC properties.
  • Gain an understanding reporting steps related to these issues (state agency, CPA & investor) and 8823s.

 

Speakers:

  • Missy Covington, HCCP - VP, Compliance - Raymond James Affordable Housing Investments
  • Stephanie Naquin, HCCP - Director of Multifamily Property Compliance – Novogradac & Company LLP®
  • Wendy Quackenbush, HCCP - Director of Multifamily Compliance - Texas Department of Housing and Community Affairs

 

CE Credit: NAHB - 1.0 CE hour(s)

 

 

If you have any questions, please contact [email protected]