Navigating the tax and audit compliance requirements for real estate projects in the affordable housing industry is complex. Failure to comply with reporting and compliance requirements can result in the loss of low-income housing tax credits, access to governmental funding sources, and overall project viability. Since the inception of the firm, we have provided audit, tax and consulting services to the full spectrum of the affordable housing industry. We serve for-profit developers and nonprofit entities. We have extensive experience in the audit and reporting requirements of projects receiving financing from federal and state government agencies including:
- U.S. Department of Housing and Urban Development (HUD)
- California Department of Housing and Community Development (HCD)
- California Housing Finance Agency (CalHFA)
- Los Angeles Housing and Community Investment Department (HCID)
- USDA Rural Development
We understand the complexities associated with low-income housing tax credits (LIHTC), as defined in IRC Section 42, as amended. We prepare income tax returns for partnerships, corporations and exempt organizations. Whether your need is assistance with submissions to REAC or an audit in accordance with OMB Circular A-133, our comprehensive services will guide you through the regulatory environment to help you continue your mission to serve communities in need.
To learn more about our affordable housing audit and tax services, click here.