On November 10, 2021, IRS issued Revenue Procedure 2021-45 which included a few provisions related to Section 42 low-income housing tax credits. Minimum Rehabilitation Expenditures for Low-Income Housing Units in 2022 The minimum rehabilitation expenditures per low-income housing unit for […]
Affordable Housing
By Megan Brownell, Associate Being a recent college graduate, I was often frustrated with how expensive rent can be, especially in comparison to how little I was able to work and make money as a full-time college student. Taking 14-18 […]
By Donna Stevermer, CPA On July 1st, 2021, the Minnesota Legislature, during a special session, passed an omnibus tax bill (HF9) that included several important changes impacting affordable housing in the state. While much of the multi-faceted tax bill is […]
By Will Bates, CPA For-profit investors need to examine how a not-for-profit entity is involved in a potential deal structure, as it may create a tax trap referred to as a tax-exempt use property. This creates an unfavorable situation for […]
The COVID-19 pandemic has highlighted the desperate need for more affordable housing more than ever before. This includes rising costs of construction, limited resources and a pandemic that has caused businesses to shut down or limit capacity. The affordable housing […]
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