Compliance Corner: Preparing for 2018 Cost of Living Adjustments

The Low Income Housing Tax Credit (LIHTC) program provides housing for the neediest residents in the country. For compliance professionals, calculating incomes and ensuring residents qualify to live in LIHTC-financed homes requires a careful review of a household’s gross annual income.
This calculation includes earned income (from employment), unearned income (child support, Social Security, TANF and more) and income from assets (savings accounts, bonds and more).