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News & Updates
Physical Inspection Protocol Change - 3/9/2023 - On October 1, 2023, the new NSPIRE (National Standard for Physical Inspection of Real Estate ) protocol will replace Uniform Physical Condition Standards (UPCS) and Housing Quality Standards (HQS) for HUD and Low-Income Housing Tax Credit (LIHTC) projects. It is noted that there is no official notice regarding a change for LIHTC monitoring; however, Treasury Regulation 1.42-5 references 24 CFR 5.703 which defines the UPCS inspection protocol. NSPIRE standards will post to 24 CFR 5.703 when the final notice is published.
IRS Boosts Business Standard Mileage Rates for 2023 - 2/14/2023 - The IRS issued Notice 2023-03, which contains the 2023 standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes.
HOTMA FINAL RULE - 1/1/2023 - HUD has released the final rule implementing Sections 102 and 104 of the Housing Opportunity Through Modernization Act of 2016 (HOTMA).
HUD Announces 2023 Income Limits Will Be Delayed - 12/15/2022 - HUD annually calculates estimates of median family income for every area of the country.