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When Disaster Strikes - Understanding the impact of LIHTC Casualty Loss

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60-minute webinar reviewing the impact of casualty loss on a LIHTC Project

About this Event

the lossUnderstanding the Impact of Casualty Loss on a LIHTC Project

With fires and storms raging across the country, many low-income housing tax credit projects have been horribly damaged and in some cases, completely destroyed.

Casualty loss represents the type of devastating event we tend to think will never occur at our properties. Such a devastating loss or damage to our investments is troubling enough to think about, but we mustn't forget the impact on our residents and the project's ability to claim credits.

When Disaster Strikes

When disaster strikes, it is imperative that immediate action be taken to restore the building back into habitable condition promptly. The need for immediate action is not just to ensure the owner's ability to claim credits, but more importantly, to get the project back to serving its purpose of providing affordable housing. In this 60-minute webinar, Amanda Lee Gross will discuss the impact of casualty loss on LIHTC properties. In this session, Amanda Lee will answer questions, such as:

How does the IRS define "Casualty Loss"?

  • When can credits be recaptured due to Casualty Loss?
  • Can an owner claim credits when the project is undergoing restoration?
  • What are the deadlines for getting the project restored in a reasonable amount of time?

Learn to Conquer Compliance

By fully understanding the implication of casualty loss on the owner's annual credit, housing professionals are better equipped to minimize of credits when such circumstances arise.

All attendees will receive:

  • A certificate of attendance
  • A content-rich PDF manual
  • Interactive live webinar training where you can ask questions and participate in knowledge checks and polls
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