Tax Credit Processor
Company: West Virginia Housing Development Fund
Location: Charleston
Posted on: May 24, 2023
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Job Description:
TAX CREDIT PROCESSORMultifamily-Low-Income Housing Tax Credit
ProgramCLASSIFICATION: Non-ExemptSALARY GRADE: 5REPORTS TO: Senior
Manager- Low-Income Housing Tax Credit ProgramJob Summary: Under
the direction of the Senior Manager of the Low-Income Housing Tax
Credit Program ("LIHTC Program"), this employee is responsible for
assisting in the implementation of the applicable Internal Revenue
Code section for the LIHTC Program. The employee will process tax
credit applications, performing unbiased evaluations of such
applications and other administrative duties to support compliance
with IRS requirements and administration of the LIHTC Program, as
well as oversight of assigned properties from initial
pre-registration to placement in service. This position involves
time sensitive deadlines, therefore periods of heavy work volume
over short spans of time should be expected. This employee will
have access to sensitive and confidential data; therefore,
confidentiality must be maintained at all times.Essential
Functions:Assists in the administration of the LIHTC
Program;Provides technical assistance to program
participants;Assigned specific LIHTCP Program developers, serving
as the main point of contact from the Fund to the
developer;Responsible for communicating with the
assigned-developers as well as for the collection and review of
numerous documents throughout the various processing
stages;Responsible for the evaluation, underwriting, and oversight
of LIHTCP property applications through these stages: Reservation
Request (initial application stage), Carryover Allocation Request
(credit allocation stage), Prior to Equity Closing, and Allocation
Request (placed-in-service stage);Performs unbiased application
evaluations against the selection and preference criteria specified
in the Qualified Allocation Plan;Reviews and evaluates application
forms for accuracy by verifying computations, calculating the
applicable fraction, substantiating the reasonableness of line
items, and noting incorrect and/or missing information;Responsible
for processing and following up on requests for LIHTCP properties
to Technical Services for site suitability visits, Capital Needs
Assessment reviews, Phase I Environmental reviews, plans and
specifications reviews, costing, change order reviews and
approvals, and final Quality of Housing review;Responsible for
maintaining the LIHTC Program emailing list, and coordinating of
periodic emails to program participants;Assists in the preparation
of IRS Forms 8609 and 8610;Coordinates and may be expected to
present at West Virginia-based LIHTCP conference(s) or LIHTC
Program groundbreakings or grand openings;Prepares and maintains
correspondence records in each property file as applicable;Images
documents and disposes of them properly; andAssists other
Multifamily departments with production duties as
needed.Competencies:Adaptability --- ProductivityCommunication ---
QualityDependability --- Regular AttendanceEthics --- Strategic
ThoughtOrganizational Skills --- TeamworkSupervisory
Responsibility: N/AWork Environment/Physical Demands: The employee
in this position may be required to sit at a desk for long periods
of time. Routinely uses standard office equipment such as
computers, phones, etc.Required Education/Experience: Associate's
degree in Accounting or relevant work experience. Knowledge of
Microsoft Office products, specifically Excel and Word.Preferred
Education/Experience: Minimum of two years accounting experience
with emphasis in tax credit financial underwriting and/or financial
loan underwriting.Required Certificates/Licenses: N/AOther Duties:
This job description is not designed to cover or contain a
comprehensive listing of activities, duties or responsibilities
that are required of the employee for this job. Duties,
responsibilities and activities may change at any time with or
without notice.
Keywords: West Virginia Housing Development Fund, Charleston , Tax Credit Processor, Accounting, Auditing , Charleston, West Virginia
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