Tax code professionals unite for a tax credit feast

What do you get when you combine representatives from the Low Income Housing Tax Credit (LIHTC) housing industry, state monitoring agencies, property management specialists, marketing experts, and the latest and greatest tax credit updates with the scenic wilderness of the Wisconsin Dells? A tax credit FEAST — more formally known as the 13th Annual National Compliance Professional (NCP) Conference.

Nationwide members of the LIHTC industry recently gathered at the remote Glacier Canyon Lodge and were treated to a full serving of delectable tax credit wisdom. Beginning with a timely first course of Change 4 to the U.S. Housing and Urban Development (HUD) Handbook and the Internal Revenue Service’s Ruling 2013-2017, the course was seasoned with the experienced input of compliance consultant Elizabeth Moreland and peppered with input from members of state monitoring agencies.

Marketing expert Lisa Trosien of offered nuggets of wisdom as she addressed the challenges of marketing affordable housing by offering outreach and social medial solutions. Next up, we heard the skinny on the all-important first-year applicable fractions, their calculations and the significance of rent-up on new properties.

Later, we noshed on the more practical aspects of property management, including:  the crucial role of maintenance staff, guidelines for Uniform Physical Condition Standards (UPCS) inspections, and firsthand advice from panelists on how to efficiently streamline compliance monitoring operations. As a special treat, a bonus session was held for those hungry for more. This after-hours session detailed HUD’s Enterprise Income Verification (EIV) System.

Following the two-day seminar, surrounded by sandstone canyons and towering pines, I found myself full to the brim and equipped with the latest LIHTC compliance regulations. That’s tax code fine dining at its best!

Below are a few photos from my hike.

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