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OKLAHOMA HOUSING FINANCE AGENCY Annual Owner Certification Cover Page JANUARY 1, 20___ THRU DECEMBER 31, 20___DEVELOPMENT NAME: ___ ADDRESS:COUNTY:___CITY:STATE:OHFA FILE #:ZIP:___ALLOCATION YEAR:___PLACED

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What is affordable housing tax credits?

Affordable housing tax credits are tax incentives provided by the government to encourage the development of affordable housing for low-income individuals and families. These credits reduce the federal tax liability of developers who create affordable rental housing.

Who is required to file affordable housing tax credits?

Developers and owners of low-income housing projects that received affordable housing tax credits are required to file to report their compliance with the program's regulations and to benefit from tax reductions.

How to fill out affordable housing tax credits?

To fill out affordable housing tax credits, individuals must complete IRS Form 8586, which includes details about the housing project, the amount of credits being claimed, and compliance with applicable housing standards.

What is the purpose of affordable housing tax credits?

The purpose of affordable housing tax credits is to increase the availability of affordable housing units for low-income households, stimulate the economy, and promote community development by providing financial incentives to developers.

What information must be reported on affordable housing tax credits?

Information that must be reported includes the project’s location, the number of units, income limits, tenant information, and evidence of compliance with federal and state housing requirements.

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