How do I get Lihtc certified?

How do I get Lihtc certified?

Course Details

1. Delivered Online Over Four Days. 1PM-5PM Eastern each day with a live instructor and teaching assistant.
2. Online Certification Exam. One week to take exam; results delivered week after exam window closes.
3. Course Materials Delivered Directly To Participants.
4. Certification Issued Upon Passing.

What is a tax credit specialist?

Tax Credit Specialist Advanced (TCSA) is for the holder of a TCS certification who wants to join an elite group of experts on the administration of the Section 42 Low Income Housing Tax Credit program.

What does it mean to be tax credit certified?

Tax credit certificate means a document issued by the department to an eligible business which indicates the amount of unused investment tax credit that the business is requesting to receive in the form of a refund.

What is an HCV specialist?

Overview. By achieving NAHRO’s Certified Specialist of Occupancy (CSO-HCV) designation, an individual has demonstrated that he/she has the knowledge, skills and ability necessary to understand the housing choice voucher occupancy cycle.

What is Lihtc compliance?

Launched in 1986, the Low-Income Housing Tax Credit (LIHTC) program uses tax credits to encourage private developers to create affordable housing. During the first 15 years, called the initial compliance period, owners must maintain affordability.

What is the Lihtc program?

Created by the Tax Reform Act of 1986, the LIHTC program gives State and local LIHTC-allocating agencies the equivalent of approximately $8 billion in annual budget authority to issue tax credits for the acquisition, rehabilitation, or new construction of rental housing targeted to lower-income households.

How do you qualify for low-income housing?

WHO IS ELIGIBLE? Public housing is limited to low-income families and individuals. An HA determines your eligibility based on: 1) annual gross income; 2) whether you qualify as elderly, a person with a disability, or as a family; and 3) U.S. citizenship or eligible immigration status.

How do Lihtc work?

The LIHTC gives investors a dollar-for-dollar reduction in their federal tax liability in exchange for providing financing to develop affordable rental housing. Investors’ equity contribution subsidizes low-income housing development, thus allowing some units to rent at below-market rates.

What is HCV certificate?

How does the LIHTC program work?

Is the LIHTC refundable?

Key Findings. The Low-Income Housing Tax Credit (LIHTC) offers developers nonrefundable and transferable tax credits to subsidize the construction and rehabilitation of housing developments that have strict income limits for eligible tenants and their cost of housing.

What do you need to know about the TCS program?

TCS offers learners a thorough review of IRS regulations and guidance, including the IRS’s Guide for Completing Form 8823. The program also covers HUD Handbook 4350.3 guidance that pertains to Low-Income Housing Tax Credit (LIHTC) properties.

Which is the best course for LIHTC certification?

Tax Credit Specialist – the premier certification course of LIHTC professionals. NCHM is setting the standard for training and certification in the Low Income Housing Tax Credit (LIHTC) world with our Tax Credit Specialist (TCS) program. Unlike programs offered by others, NCHM teaches and it certifies!

What are the requirements for Section 42 TCS?

TCS goes in-depth on the other significant Section 42 eligibility requirements including such topics as the minimum set-aside and applicable fraction measurements; LIHTC income and rent limits; utility allowances; student eligibility; and leases.