GAO recommendations, low-income housing credit program - KPMG Global
Share with your friends

KPMG report: GAO recommendations for low-income housing credit program

GAO recommendations, low-income housing credit program

Representatives from the U.S. Government Accounting Office (GAO) recently testified before the Senate Finance Committee on ways to improve the low-income housing tax credit (LIHTC)—a federal tax credit for investors in low-income housing projects.


Related content

Under the LIHTC program, state and local housing finance agencies allocate LIHTC tax credit authority to developers and monitor compliance of multifamily housing projects financed through the LIHTC program. The testimony was based on GAO reports that found the requirements for allocating credits, reviewing costs, and monitoring compliance vary from state to state. Also, certain day-to-day administration practices raised concerns because they were not consistent with the LIHTC federal tax requirements imposed on allocating agencies. 


This report provides highlights from the GAO testimony, as well as its recommendations for improving oversight of the LIHTC program. Read a September 2017 report [PDF 79 KB] prepared by KPMG LLP: What’s News in Tax: Government Accounting Office Recommends Ways to Strengthen the Low-Income Housing Credit Program

© 2019 KPMG LLP, a Delaware limited liability partnership and the U.S. member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative (“KPMG International”), a Swiss entity. All rights reserved.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.

The KPMG logo and name are trademarks of KPMG International. KPMG International is a Swiss cooperative that serves as a coordinating entity for a network of independent member firms. KPMG International provides no audit or other client services. Such services are provided solely by member firms in their respective geographic areas. KPMG International and its member firms are legally distinct and separate entities. They are not and nothing contained herein shall be construed to place these entities in the relationship of parents, subsidiaries, agents, partners, or joint venturers. No member firm has any authority (actual, apparent, implied or otherwise) to obligate or bind KPMG International or any member firm in any manner whatsoever. The information contained in herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although we endeavor to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation. For more information, contact KPMG's Federal Tax Legislative and Regulatory Services Group at: + 1 202 533 4366, 1801 K Street NW, Washington, DC 20006.

Connect with us


Want to do business with KPMG?


Request for proposal