IRS Notices | Spectrum Enterprises

2025 COLA Update: Impact on Affordable Housing Compliance

Oct 10, 2024 | Compliance Updates, IRS Notices

The Social Security Administration (SSA) recently announced the Cost-of-Living Adjustment (COLA) for 2025 at 2.5%, the lowest adjustment since 2020 (1.3%). The average COLA increase over the past decade has been 2.6%. While this year’s adjustment is lower than 2024’s...

2024 Income Limits

Apr 3, 2024 | Investor Consulting Services, IRS Notices

HUD has announced the 2024 income limits for the MTSP housing programs effective April 1, 2024..

2024 COLA ANNOUNCED

Oct 12, 2023 | IRS Notices

October 12, 2023 the 2024 COLA was published at 3.2%.

HOTMA – Two Key Asset Changes

Sep 11, 2023 | Compliance Issues, Income/Asset Verification, IRS Notices

HOTMA: Section 104: Asset Limits The Final Rule of the Housing Opportunity Through Modernization Act of 2016 (HOTMA) provides some significant changes to the way managers and owners will verify and treat assets. These changes will benefit tenants, administrators and...

2023 Income Limits

May 16, 2023 | Investor Consulting Services, IRS Notices

HUD has announced the 2023 income limits for the MTSP housing programs effective May 15, 2023.

Spending package includes change to RMD requirements

Jan 20, 2023 | IRS Notices

The RMD age adjustment is actually an extension of a change from the first SECURE Act, which in 2019 raised the age for RMDs from 70 1/2 to 72. In addition to raising the age for 2023 to 73.

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