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.