Notes for 2012

NEF, Inc. has made several changes to the reporting requirements for partnerships for year-end 2011. Check the reporting requirements for each project on the Reporting Information page to ensure that each partnership is meeting their required reporting requirements.

  • All projects are required to submit final audits, tax returns and CPA independence letters by February 28, 2012, unless approved for an audit waiver.
  • Draft audits and tax returns are only required for partnerships selected on the 2010 drafts required list. All required drafts are due to NEF by February 15, 2012.
  • Projects selected to provide analytical review support are required to submit the final audit, tax return, independence letter and supplementary documentation by February 28, 2012.

NEW for 2011 Reporting:

Independence Letter Template
Audit Waiver Request Process
Partnership Requiring Analytical Review
Year-End Reporting Letter to Sponsors & CPAs

NEF, Inc. will periodically provide information to consider in accounting for low-income tax credit partnerships. Updates will be provided for changes in GAAP reporting requirements which may have an impact on LIHTC reporting. This list should not be considered all-inclusive.