Tax Credit Officer I

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Job Description

Entry-level professional with limited or no prior experience to contribute on a project or program. Role learns to use professional concepts to resolve problems of limited scope and complexity under close supervision while achieving day-to-day objectives. Works on developmental assignments that are initially routine in nature, requiring limited judgment and decision making. This level is typically focused on self-development. Requires theoretical knowledge through specific education and training

Monitor program compliance for all projects awarded an allocation of Low-Income Housing Tax Credits. Compliance is monitored based on section 42 of the Internal Revenue Code, HUD, and other program requirements. Assist Owner/Agents in annual document submissions and maintaining compliance throughout the entirely of both the initial and extended use periods.

Essential Functions:

Process unit set-up information from the Project History Form.

Review and analyze annual reports of all Tax Credit projects to determine compliance with the Low-Income Housing Tax Credit Program and Pennsylvania Housing Finance Agency rules and regulations.

Run activity logs and verify data input.

Review and analyze Tenant Income Certifications and supporting documentation for compliance with income and rent limits of the Low-Income Housing Tax Credit Program.

Review Tenant Data Reports and Compliance Monitoring Reports to identify

any compliance issues for the projects.

Communicate noncompliance issues with tax credit property owners and with the IRS.

Review, assist, and respond to requests and correspondence from owners, management agents, and Agency personnel regarding the Low-Income Housing Tax Credit Program.

Prepare IRS Form 8823 for processing.

Maintain the Agency’s Low Income Housing Tax Credit Program compliance files.

Update the AS400 and Automated Web Entry System.

Inform the Manager of Tax Credit Compliance of any major compliance issues.

Complete special projects as assigned by the Manager of Tax Credit Compliance.

Answer written and/or verbal communications regarding the Low-Income Housing Tax Credit Program.

Maintain up-to-date knowledge of the IRS Section 42 Low Income Housing Tax Credit Program: including Code, Revenue Procedures, Notices, Rules, and Regulations.

Attend conferences, workshops, and meetings on behalf of the Agency.

Education: B. S. Degree from accredited academic institution; or three years work experience as an Assistant Tax Credit Officer or in Low Income Housing Tax Credits.  

Knowledge/ Skills:

Ability to communicate effectively, both verbally and in writing.

Computer literate in Microsoft Office applications.  Experience with AS400 is desirable.

Must be detail oriented and have strong analytical skills.

Ability to travel periodically, including overnight and out of state.

Qualifications

Bachelor of Science, Relevant professional experience (1-3 years)

Experience

Relevant professional experience (1-3 years)

EEO Statement

As an employer, PHFA is committed to having a workforce that is diverse and reflects the residents that it serves. We strive to maintain a workplace where all employees and applicants for employment receive equal opportunities in all aspects of employment. There are numerous policies in place at PHFA to help us honor this commitment.

The Pennsylvania Housing Finance Agency is an equal opportunity employer. All qualified applicants will receive consideration for employment without regard to age, disability, family status, gender, national origin, political affiliation, race or religion.

Diversity Statement

PHFA values, honors and commits to the equitable treatment and elimination of discrimination in all forms. We are committed to the diversity of all staff, and in all programs and services offered.