Low Income Housing

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The Proper Framework

Affordable housing projects provide great opportunities to give back to the community by providing affordable housing to underprivileged areas throughout our state. At Wilkin & Guttenplan P.C., we recognize that receiving an allocation of credits requires complex compliance including cost certifications and tax filings.

We know that compliance with filing deadlines, record keeping and other specific requirements is critical. We deliver assistance to efficiently implement these requirements and ensure you receive the maximum credit allowed. Additionally, we work closely with your investors to enhance your relationship while supplying them with the annual financial information they require.

Applying Technical Knowledge

Our firm has extensive experience working with investors, developers and owners of Low Income Housing projects to help simplify the process from an accounting and tax perspective. Furthermore, we have a deep background in tax and accounting for real estate activities including commercial and residential rental properties, real estate development, structuring acquisitions and dispositions, and tax deferred exchanges. We work with these owners and investors to develop strategies for minimizing their taxes and assist in delivering timely preparation of financial statements and tax returns.

Services Designed to Address Compliance Obligations

We provide many crucial services to the Low Income Housing industry:

  • Completion of carryover schedules
  • Preparation of cost certifications
  • Financial statement audits
  • Ongoing compliance issues including meeting HUD related requirements
  • Preparation of tax returns and tax credit calculations
  • Determination of eligible basis
  • Special considerations for not-for-profit owners
  • Structuring investor buyout/sale of the property
  • Coordinating with syndicators and investors
  • Calculation of Historic/Rehab tax credits in conjunction with LIHTC’s
  • Grants and incentives for energy efficient improvements

Putting our Experience to Work for You

Wilkin & Guttenplan is committed to providing these services, helping you with the requirements associated with Low Income Housing. We believe it is our responsibility to provide timely advice and service, as well as assist in structuring business transactions so owners and investors can achieve their overall long-term goals. We welcome the opportunity to put our expertise to work for you.

icon Download our Low Income Housing brochure

LIHTC Alert: 9% Credit Rate for the Low-Income-Housing Tax Credit Program Extended

LIHTCH Alert: IRS Rules on Effect of Receipt of Low-Income Housing Award to S Corporations and Their Shareholders

LIHTC Alert: Physical Inspection Pilot Program

Tax Alert: IRS Provides Safe Harbor for Allocating Historic Tax Credits

LIHTC Alert: Simplified Accounting for Investments in Qualified Affordable Housing Projects

Click here to view and download IRS LIHC Newsletters

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