Avoiding LIHTC Issues: The Initial Years

This is first in a three-part paper series covering tax matters throughout the timeline of a typical LIHTC project. Organized chronologically this paper covers tax topics encountered in the initial 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

The paper is for CFOs and controllers who are responsible for reviewing and/or signing tax returns and related forms. It assists by providing the key tax issues to look for when reviewing. 

 

Tax issues to be on the lookout for during the middle and final years of LIHTC project are also available.