NAHMA LIHTC Update: IRS publishes guidance on LIHTC Average Income Test

February 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.