GAO Recommends Designating Agency to Improve LIHTC Administrative and Cost Oversight

The IRS doesn’t have the resources to collect detailed LIHTC cost information.

The U.S. Government Accountability Office (GAO) recently issued a brief report entitled, “Low-Income Housing Tax Credit: Opportunities to Improve Oversight.” The report highlights the fact that the U.S. has a widespread shortage of affordable housing and the LIHTC is the largest source of federal assistance for developing affordable rental housing.