One of the crucial steps to an affordable housing property receiving low-income housing tax credits (LIHTCs) is the placed-in-service application the developer files with the housing credit agency. That application sets up the property to receive its Internal Revenue Service (IRS) Forms 8609, which allocate the tax credits on a per-building basis. In this Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Tabitha Jones, CPA, talk about the placed-in-service application. They begin by discussing what is in the application and variations from state to state. After that, they address common mistakes made in placed-in-service applications, the differences between such applications for 4% LIHTC and 9% LIHTC transactions and the role of final cost certifications in the application.