Articles | "Audit" Your Policies? Are They Up-To-Date?
Dec 14, 2022
As we approach the end of the taxable year for many properties, many competent owner/agents are doing file audits to ensure that household files are in good shape. Another audit that we encourage relates to compliance policies. Are they up-to-date? To assist our Blog readers, we are providing a checklist of regulatory and other changes in the last 10 years that might require policy adjustments. If any matter related below does not "ring a bell" we are also providing references to allow for further investigation to guide policy making.
Checklist | Recent federal guidance or case law changes that may affect management or monitoring Agency compliance policies
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Change 4 of the HUD Handbook adjustments - treatment of foster household members - definition of "third-party" verification - how to calculate retirement accounts | HUD 4350.3 Rev 1, CHG 4, IRS Newsletter #54
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HOME regulation changes - prohibition of PHA UAs - 2 months of income history verification requirement - HOME student rules | 24 CFR 92 (2013)
- Updates to HUD income regulations with several changes not reflected yet (as of 2022) in the HUD Handbook 4350.3 Exhibit 5-1 | 24 CFR 5.609(b) and (c)
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Charging rents for tax credit employee units | IRC §42 ATG Chap 12 - June 2014
- LIHTC casualty loss clarification for declared disasters | Rev. Proc. 2014-49
- Tax-exempt bond casualty loss clarification for declared disasters | Rev. Proc. 2014-50
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Nation HTF regulations - several important differences from HOME such as no student requirements and UA and lease termination differences | 24 CFR 92 (2015)
- Clarification of tenant rights during an LIHTC rehab of a HUD property | Occupany Protections for HUD-Assisted Households in Properties with LIHTCs - January 12, 2015
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Procedures to ensure that persons are not discriminated against based on disparate impact for criminal background checks under the Fair Housing Act | FHEO Chief Counsel Guidance, March 2016
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The definition of “tuition” for student financial assistance | HUD Fed Reg Notice, September 2016
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Procedures and forms to support compliance with the Violence Against Women Act | HUD Regulation, November 2016 & Further Guidance, May 2017
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The 15-day notice given for LIHTC inspections | Treas. Reg 1.42-5, July 2020
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The change in the definition of “HUD-regulated” in the LIHTC UA rule and its impact on LIHTC/HOME properties | Treas. Reg 1.42-10, March 2019
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Handling of ABLE Accounts | Notice HUD-H-2019-06
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Handling of internet-bought assistance animal verifications | FHEO Notice 2020-1, January 2020
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Handling conflicting reasonable accommodation needs | Cohen v Clark, SCO Iowa, June 2020
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Addressing spouses as live-in aids | Johnson v. Guardian, April 2021
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A number of COVID-related deadlines and policies | IRS Notices 2021-12, 2022-05, and 2022-52
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HUD carbon monoxide detector rules (for HUD MF & HCV holders) | NOTICE H 2022-01
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“Nuisance” policies made illegal as they relate to VAWA 2022 | VAWA Reauthorization, March 2022
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The Average Income Test regulation - AIT and AUR adjustments | Treas. Regs. 1.42-19, -19T, and -15, October 2022
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