11/20/25, 10:49 AM Tax Credit Specialist EXAM (updated 2025) Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026 Flashcards | …
Tax Credit Specialist EXAM (updated 2025)
Questions & Answers | Latest Already Graded A+
UPDATE 2025|2026
Save
Terms in this set (61)
Who is responsible for State Housing Finance Agencies (SHFA)
most of the regulatory
administration of the low-
income housing tax credit
program?
The initial compliance 30 Years
period for LIHTC
properties combined with
the Extended Use Period
must be for a minimum
period of affordability at:
The LIHTC regulations Hud Handbook 4350.3 REV-1
require that HUD
guidance for properly
identifying and calculating
income and assets be
followed according to :
Use of HUD's EIV system Prohibited for LIHTC income verifications
is:
LIHTC legislation HERA, ARRA, VAWA
provisions include
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, 11/20/25, 10:49 AM Tax Credit Specialist EXAM (updated 2025) Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026 Flashcards | …
The first 3 stages in the life 3 Years
of a LIHTC property
generally occur whithin:
A reservation letter A portion of that years tax credits will be held in
received at the end of the reserve for a project
application stage for
LIHTC means that
Carryover Allocations are Their 10% tests have been met
issued by State Housing
Federal Agency (SHFA) for
LIHTC projects when:
Acquisition/rehab projects 120 days before acquisition
generally place in service 120 days after acquisition
at acquisition and are 240 days surrounding the acquisition
given
In the project example The tax credit projects mortgage will be less than that
from Appendix C (Course of the conventional property providing less debt and
Manual pg. 525), the greater affordability
equity from the credit sale
means that:
When conducting physical HUD's Uniform Physical Condition Standards (UPCS)
inspections for LIHTC,
most state agencies use:
The two most important 8B and 10C
line items for management
purposes under Part ll of
IRS form 8609 are:
Report non-compliance to the IRS by the state
IRS form 8823 is used to:
agency
A Tax credit disallowance For the current year
prevents credits from
being claimed by the
owner
https://quizlet.com/1111110152/tax-credit-specialist-exam-updated-2025-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 2/8
Tax Credit Specialist EXAM (updated 2025)
Questions & Answers | Latest Already Graded A+
UPDATE 2025|2026
Save
Terms in this set (61)
Who is responsible for State Housing Finance Agencies (SHFA)
most of the regulatory
administration of the low-
income housing tax credit
program?
The initial compliance 30 Years
period for LIHTC
properties combined with
the Extended Use Period
must be for a minimum
period of affordability at:
The LIHTC regulations Hud Handbook 4350.3 REV-1
require that HUD
guidance for properly
identifying and calculating
income and assets be
followed according to :
Use of HUD's EIV system Prohibited for LIHTC income verifications
is:
LIHTC legislation HERA, ARRA, VAWA
provisions include
https://quizlet.com/1111110152/tax-credit-specialist-exam-updated-2025-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 1/8
, 11/20/25, 10:49 AM Tax Credit Specialist EXAM (updated 2025) Questions & Answers | Latest Already Graded A+ UPDATE 2025|2026 Flashcards | …
The first 3 stages in the life 3 Years
of a LIHTC property
generally occur whithin:
A reservation letter A portion of that years tax credits will be held in
received at the end of the reserve for a project
application stage for
LIHTC means that
Carryover Allocations are Their 10% tests have been met
issued by State Housing
Federal Agency (SHFA) for
LIHTC projects when:
Acquisition/rehab projects 120 days before acquisition
generally place in service 120 days after acquisition
at acquisition and are 240 days surrounding the acquisition
given
In the project example The tax credit projects mortgage will be less than that
from Appendix C (Course of the conventional property providing less debt and
Manual pg. 525), the greater affordability
equity from the credit sale
means that:
When conducting physical HUD's Uniform Physical Condition Standards (UPCS)
inspections for LIHTC,
most state agencies use:
The two most important 8B and 10C
line items for management
purposes under Part ll of
IRS form 8609 are:
Report non-compliance to the IRS by the state
IRS form 8823 is used to:
agency
A Tax credit disallowance For the current year
prevents credits from
being claimed by the
owner
https://quizlet.com/1111110152/tax-credit-specialist-exam-updated-2025-questions-answers-latest-already-graded-a-update-20252026-flash-cards/?new 2/8
