Quiz 01/22/2018: Program Monitoring Agencies

1. Use the following list of federal agencies: HUD-CPD / HUD-MF / HUD-PIH / Rural Development / IRS Who monitors: A) The tax credit program B) The HOME Funds program C) Section 515 housing D) Section 8 housing E) Public housing 2. Which of the above programs explicitly use the handbook HUD 4350.3 for guidance? 3. For which of the above programs might the handbook HUD 4350.3 provide some explanation of certain rules that may be helpful? CLICK HERE for answers to this week's quiz

A Handy Gift to our Readers!

Costello Compliance spoke at the NCSHA Conference in Washington DC this week. One of the topics we participated in was a Multi-Program Compliance Seminar. Many in attendance expressed that they would like a simple guide that lays out provisions of the major affordable housing programs. I remembered that such a heavily-referenced Guide is part of our Multiple Programs and Tax Credit Comprehen-sives courses. So, to meet this need, we made available this Guide to assist conference attendees. Additionally, we were asked to put it on our website. As a gift to our loyal blog readers, I am posting it here, as well. Enjoy! Download the Multiple Programs Guide by clicking the picture above, or HERE

Quiz 01/08/2018: Foster Household Members

1. Four people apply for a unit. Two of them are foster children and one is a foster adult. Which income limit is used? A) One-person B) Two-person C) Three-person D) Four-person 2. The foster children get social security benefits. These are income to the family. True or False 3. Now that the foster children are counted for income limits (see question 1) and the earned income exclusion (question 2), they are eligible for the $480 dependent deduction for HUD and RD rent calculation purposes. True or False 4. The head of the household receives foster care assistance payments in return for providing foster care to the three foster members. What is the amount of these payments that is counted a

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Costello Compliance

7409 South Bitterroot Place
Sioux Falls, SD 57108

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Tel:  605-336-9131 ext 133

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