Developing affordable rental housing with low-income housing tax credits (LIHTCs) is a process that can take multiple years, from conception to placing in service, beginning operation and beyond. In this week's episode of Tax Credit Tuesday, guest host Dirk Wallace, CPA, and Karie McMillen, CPA, provide an overview of the stages of the development process, from forming a partnership to annual compliance and many other stops along the way. First, they discuss the most common financing structure for a LIHTC development. With that scope established, McMillen details 11 key moments during the development process, discussing several in greater detail. Finally, the two share insights for developers who are just getting started in the development process.