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The LIHTC provides funding for the development costs of low-income housing by allowing an investor (usually the partners of a partnership that owns the housing) to take a federal tax credit equal to a percentage (either 4% or 9%, for 10 years, depending on the credit type) of the cost incurred for development of the low-income units in a rental housing project.
The Internal Revenue Service is automatically sending $1,400 stimulus payments to about one million Americans who never claimed their COVID-19 relief checks from 2021, according to a recent ...
The City of Columbus has designated the Short North, along with portions of Italian and Victorian Villages as a "market ready" Community Reinvestment Area, with available 15-year, 100 percent tax abatements if projects include 10 percent affordable housing, with options to buy out of the requirement.
Tax debt relief is a way the government helps you when you can’t afford to pay your tax bill. This comes in the form of a payment plan or a settlement in which the IRS agrees to settle your tax ...
Permanent, federally funded housing came into being in the United States as a part of Franklin Roosevelt's New Deal. Title II, Section 202 of the National Industrial Recovery Act, passed June 16, 1933, directed the Public Works Administration (PWA) to develop a program for the "construction, reconstruction, alteration, or repair under public regulation or control of low-cost housing and slum ...
Credits like the earned-income tax credit and child tax credit may be refundable. Non-refundable Tax Credits: These only reduce your taxes owed to $0, with no additional refund for excess amounts ...
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