Casualty Loss on LIHTC Properties: IRS Guidance & the Impact of COVID-19
This webinar will focus on the IRS regulations relating to regular casualty losses and federal disaster area issues on Low-Income Housing Tax Credit (LIHTC) properties. It will include a review of Revenue Procedure 2014-19 and the recent IRS Notice 2020-53, COVID-19 Relief for LIHTC projects. Timing issues and penalties for failure to meet deadlines will also be addressed.
Participants in this webinar will:
- Understand the deadline associated with repairing LIHTC properties after a casualty loss.
- Learn the importance of coordinating efforts with state agencies.
- Identify the tax ramifications of failing to comply with IRS casualty loss requirements
Speakers: A.J. Johnson, President, A.J. Johnson Consulting Services; Marie Peace, VP of Compliance, The Franklin Johnston Group; & Matt Rayburn, Deputy Executive Director & Chief Real Estate Development Officer, Indiana Housing and Community Development Authority
NAHB Continuing Education: 1.0 hours of continuing education credits for the following 12 designations: HCCP, CAPS, CGA, CGB, CGP, CGR, CMP, CSP, GMB, GMR, Master CGP, Master CSP, MIRM.
Cancellation and Refund Policy: Registration is open until 3 p.m. ET (12 p.m. PT) on Monday, September 14. To receive a refund, cancellations must also be submitted by 3 p.m. ET (12 p.m. PT) on Monday, September 14. After that date, no refunds will be issued. Cancellation requests must be submitted to Deborah Krat at EdWebinars@nahb.org
President, A.J. Johnson Consulting Services, Inc.
A.J. Johnson is the President of A.J. Johnson Consulting Services, Inc., and has over 40 years in the affordable housing industry. As a developer, Mr. Johnson has developed over 70 multifamily housing complexes utilizing federal, state, and conventional financing, of which more than 40 used the federal low-income housing tax credit. His organization, A.J. Johnson Consulting Services, has performed asset management reviews on more than 6,000 properties containing approximately 660,000 units since January 1995. A.J. is also the author of A Property Manager’s Guide to the Low-Income Housing Tax Credit, which was written to assist site and property managers in maintaining tax credit compliance.
VP of Compliance, The Franklin Johnston Group
Marie Peace, Vice President of Compliance, oversees the compliance team of five and is responsible for all facets of compliance for the company’s affordable portfolio. Her team reviews every single file upon initial move in and recertification. During annual audits, TFJG has had no reportable file findings in the last three years. She is a frequent speaker at the Virginia Governor’s Housing Conference, and leads numerous tax credit webcast trainings with various tax credit consultants for owners and developers of affordable housing communities annually. Prior to joining TFJG, Marie worked as a consultant with A.J. Johnson Consulting to review files for partners and investors across the country.
Deputy Executive Director & Chief Real Estate Development Officer, Indiana Housing and Community Development Authority
Matt Rayburn is the Deputy Executive Director and Chief Real Estate Development Officer for the Indiana Housing and Community Development Authority. In this position, he oversees IHCDA’s Real Estate Development department which includes allocation and compliance for the Low-income Housing Tax Credit, TCAP, HOME Investment Partnerships Program, Community Development Block Grant, National Housing Trust Fund, Indiana Affordable Housing and Community Development Fund, Indiana Housing First, Housing Choice Voucher, and Performance Based Contract Administration programs as well as planning, training, and technical assistance for the Indiana Supportive Housing Institute and other supportive housing initiatives. Matt is the lead for IHCDA disaster recovery and the designated State Disaster Housing Manager responsible for working with the Indiana Department of Homeland Security on planning and recovery efforts. Matt joined IHCDA in 2007 and previously held the positions of Deputy Director of Compliance and Asset Management, Compliance and Asset Manager, and Multi-Family Monitor.