NAHMA LIHTC Update: IRS publishes guidance on LIHTC Average Income TestFebruary 6, 2020 Last week, the IRS issued guidance to clarify the process for properly computing income limits applicable to the Low-Income Housing Tax Credit (LIHTC) program using the new average income test. The revenue ruling addresses the additional income limits available within this new minimum set-aside option. The attached Revenue Ruling 2020-04 is also available online here. |