Tax Facts

IRS Releases New Guidance on Low-Income Housing Credit Calculations, Feb. 20, 2020

To qualify for the low-income housing credit, taxpayers must satisfy certain income-based tests. Historically, the available tests were known as the "20-50 test" and the "40-60 test". A third test, the "average income test", was created in 2018 and the IRS has now released guidance for taxpayers who wish to use this test. For more information on the low income housing credit, visit Tax Facts Online.


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