Affordable Housing

Accounting services for the affordable housing industry

The affordable housing industry requires painstaking adherence to demands and regulations imposed by the IRS as well as numerous federal and state housing finance agencies. Wall, Einhorn & Chernitzer has helped many "affordable housing" organizations in the Hampton Roads area and southern Virginia achieve the best possible results in terms of historic and low-income housing tax credits, and fulfilling compliance mandates. We provide the affordable housing industry tax, audit and consulting services.

Wall, Einhorn & Chernitzer has helped many businesses in the Hampton Roads area and southern Virginia maximize their allocation of low-income housing tax credits. Our firm takes great pride in helping clients succeed in the affordable housing sector, which is devoted to the principle that each person deserves an affordable home.

The Federal Low-Income Housing Tax Credit (LIHTC) program is sponsored by the U.S. Treasury Department and provides tax credits for qualified costs of acquisition, rehabilitation and/or new construction of affordable housing. We provide hands-on, professional guidance to manage the technical and regulatory requirements of the low-income housing credit.

Wall, Einhorn & Chernitzer offers Housing and Urban Development (HUD) compliance audits for HUD insured, supported or subsidized housing. FHA approved supervised mortgagees must submit annual audited financial statements and reports on compliance under the U.S. Department of Housing and Urban Development (HUD) requirements introduced under The Helping Families Save Their Homes Act of 2009.

WWall, Einhorn & Chernitzer is a public accounting firm that is recognized for its expertise in the affordable housing industry, including historic tax credits that were originally enacted in Internal Revenue Code Section 47. We provide tax, audit and consulting services to both investors and developers.

Resourceful developers are wisely taking advantage of significant, historic tax credits and rehabilitating historic structures into profitable development projects. The preservation of historic buildings benefits communities in southern Virginia, including the Hampton Roads area. Historic buildings connect us to our heritage and enhance the quality of our lives in so many ways. We're pleased to help organizations leverage the associated and significant economic benefits.