Mastering Tax Credit Income Calculations & Verifications

Accurate income calculations are the foundation of LIHTC compliance. Because tax credit properties do not process interim recertifications, correctly anticipating a household's annual income - particularly at move-in - is essential. Even small calculation or verification errors can lead to compliance findings, file audit issues, and costly consequences.

This webinar will provide practical guidance on consistently interpreting income verifications, accurately calculating anticipated annual income, and avoiding the common mistake of over-calculating income "just to be safe." Gwen Volk will explain what the IRS and state monitoring agencies expect, share best practices for documenting your calculations, and demonstrate how to confidently defend your files during an audit.

The session also includes the latest guidance on gig income and new-age assets, helping you navigate today's increasingly complex income sources with confidence.

What You'll Learn

• Understand the importance of accurate annual income calculations for LIHTC compliance.
• Apply best practices for reviewing and interpreting income verifications.
• Calculate anticipated annual income consistently and correctly.
• Avoid common calculation and documentation mistakes that lead to audit findings.
• Learn IRS and state monitoring agency expectations for income verifications.
• Properly document and support calculations to withstand file audits.
• Correctly handle gig economy income and emerging asset types.
• Build confidence in making accurate eligibility determinations at move-in.

Who Should Attend

• LIHTC Property Managers
• Occupancy Specialists
• Compliance Managers
• Regional Property Managers
• Affordable Housing Professionals
• Owners and Management Agents
• Housing Consultants
• Anyone responsible for determining eligibility and maintaining compliance at tax credit properties

This practical webinar is ideal for both experienced compliance professionals looking to refine their calculation methods and those newer to LIHTC who want to build a strong foundation in income verification and eligibility determinations.

Speaker(s)

Gwen Volk

Gwen Volk has worked in the affordable housing industry since 1983. She has been president and CEO of a Midwest property management company and chief compliance officer over a Dallas firm’s national portfolio. She has a Master’s degree in Business and is a Certified Property Manager through the Institute of Real Estate Management. Gwen holds certifications as a National Affordable Housing Professional – Executive Level, Specialist in Housing Credit Management, Housing Credit Certified Professional, Certified Professional of Occupancy, and in Fair Housing Compliance and has been a servant leader in the AHMAs, NAHMA and IREM throughout her career. Gwen is a nationally recognized expert in the tax credit, bond, HOME, and Section 8 programs and enjoys helping agents, owners, and managers make sense of it all.

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