News & Updates
- Social Security Administration Announces 5.9% Increase for 2022 - The Social Security Administration has announced a 5.9% percent cost-of-living adjustment (COLA) for 2022. It will begin with benefits payable to more than 70 million Social Security beneficiaries in January 2022. Increased payments to more than 8 million SSI beneficiaries will begin on December 31, 2021. (Note: some people receive both Social Security and SSI benefits). The Social Security Act ties the annual COLA to the increase in the Consumer Price Index as determined by the Department of Labor’s Bureau of Labor Statistics.
- HUD Releases 2021 Income Limits Effective 4/1/2021 - HUD published the 2021 income limits for HUD programs, Low-Income Housing Tax Credit, and Tax-Exempt Bond programs. The limits are effective on April 1, 2021.
- January 2021: On January 15, 2021, the IRS issued Notice 2021-12 which provides relief to LIHTC projects in a number of areas. Due to the ongoing effects of the COVID-19 pandemic, the IRS has extended various deadlines related to projects under construction, in the first year of the compliance period, and those which are stabilized.
- January 2021: Karen Graham contributes to Tax Credit Housing Management Insider