IRS publishes guidance on LIHTC Average Income Test

IRS publishes guidance on LIHTC Average Income Test

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 Revenue Ruling 2020-04 is available online here.