News & Events

Avoiding LIHTC Issues Series – The Initial, Middle and Final Project Years

Our three paper series for CFOs and controllers who are responsible for reviewing and/or signing tax returns and related forms covers key tax issues to be on the lookout for throughout the typical lifecycle of a LIHTC project.
 
Organized chronologically the papers assist in providing key topics encountered in the initial, middle and final years of a project, including:  
    • First tax return filed for a project partnership 
    • Tax return for the year the project is placed in service 
    • The tax return for the initial year of the tax credits
    • Completion of part II of form 8609
    • Monitoring loss allocations and capital account
    • Anticipating, avoiding, and addressing loss allocation issues
    • Transfer of partnership interest
    • Casualty losses
    • Final year of tax credits
    • The final compliance years
    • The year of investor exit
Also check out a webinar covering the initial years and one covering the middle and final years of a LITHC project.

5/1/19 Webinar – Avoiding Tax Issues in LIHTC Projects: The Middle and Final Years

Join us for a free webinar discussing key tax issues that CFOs and controllers should be looking for in reviewing their partnership’s tax return to avoid errors and issues.
 

Dan King of CohnReznick will cover what to look for and avoid in the middle and final years of a LIHTC project at milestones, including: 

    • Monitoring loss allocations and capital accounts; 
    • Anticipating, avoiding and addressing loss allocation issues
    • Transfers of partnership interests
    • Casualty losses
    • The final year of tax credits
    • The final compliance years
    • The year of investor exit

Register Now 

Read the companion papers on avoiding LIHTC issues now – the initial years, the middle years and the final years and watch the first webinar in the series covering the initial years of project. 

3/20/19 Webinar – Avoiding Tax Issues in LIHTC Projects: The Initial Years

Join us for a free webinar discussing key tax issues that CFOs and controllers should be looking for in reviewing their partnership’s tax return to avoid errors and issues.
 

Dan King of CohnReznick will cover what to look for and avoid in the initial years of a LIHTC project at milestones, including: 

  • First tax return filed for a project partnership 
  • Tax return filed for the year the project is placed in service 
  • The tax return for the initial year of the tax credits
  • Completion of part II of form 8609
 

 

Do’s and Don’ts of Tax-Exempt Status Guidance Papers Now Available

Not-for-Profit Organizations From Infancy to Adolescence to Adulthood!

Creating a Tax-Exempt Organization

This paper walks through the do’s and don’ts of creating a tax-exempt organization with focus on: 

  • Recruiting board members
  • Creating bylaws
  • Special rules for low-income housing entities
  • Incorporation
  • IRS forms and paperwork requirements
  • State considerations

STaying Tax-Exempt

Now that your organization has tax-exempt status, how do you keep it?

This paper outlines the do’s and don’ts for maintaining your tax-exempt status. Topics covered include: 

  • Fundamentals of maintaining tax-exempt status – organizational and operational tests
  • Unrelated business income taxes
  • Safe harbor guidelines
  • Lobbying
  • Public charity status

Jan. 23, 2019 – Annual Accounting Updates Webinar

Join Strength Matters for our annual “must read” webinar for nonprofit affordable housing CFO’s, COOs and lenders outlining the significant accounting standards that changed in 2018.
 
Dave Conway of Novogradac will explain and discuss the status of several FASB projects currently in process and what to be planning for in the next year. 
 
 
Download webinar slides

12/13/18 2PM ET – Functional Expense Reporting Webinar

Join Strength Matters for a one-hour webinar on the new Functional Expense Reporting requirements. Scott Seamands of Lindquist, von Husen & Joycewill cover the new requirement to present expenses in both natural and functional formats for 2018 financial statements.

Register for the Webinar

Download Slides

Continuing Professional Education (CPE) Credits for CPAs
Although we are not yet part of the NASBA Registry of CPE Sponsors for webinars, we follow NASBA guidelines in our program. You may request a certificate of completion and petition your state board of accountancy to request that the credits be allowed. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit.
 
Learning objectives:   
  • Discuss the new requirement to present expenses in both natural and functional formats for 2018 financial statements.
Instructional delivery method: Group internet
 
CPE credits: 1 CPE (50 minutes of instructional time = 1 CPE)
 
Field of Study: Accounting
 
Program level: Intermediate
 
Who Should Attend: Senior-level management experience in nonprofit real estate development
 
Prerequisite: Nonprofit housing development organization management or related financial management experience
 
Advanced preparation required: None required.
 
Registration: Participants should register in advance using the button above
 
Participation Requirements: To receive a certificate of completion for a webinar, participants must be logged into the webinar and dialed into the audio portion (if joining audio by computer, no separate dial-in required) by 10 minutes after the stated start time, complete all engagement activities (including polls), and participate in the full webinar.
 
Please email consult.lwells@gmail.com after the event to request a certificate.
 
Contact: For more information regarding policies, or to issue a complaint, please email Lindsay Wells at consult.lwells@gmail.com or Angela Gravely-Smith at AGravelySmith@nw.org.

11/29/18 2PM ET – New Liquidity Footnote Webinar

Join Strength Matters for a one-hour webinar on the new liquidity footnote disclosure requirements. Scott Seamands of Lindquist, von Husen & Joyce and Karen Kent, of Kevin P. Martin & Associates will lead this webinar and provide guidance on how to begin drafting your organization’s 2018 financial statements. CPE credit available.  

Register for the Webinar

Download Slides