Understanding the many requirements and nuances of the low-income housing tax credit (LIHTC) can mean the difference between delivering tax credits to investors on time or not. In this week's episode of Tax Credit Tuesday, Michael Novogradac, CPA, and Novogradac partner Tonya Johnson, CPA, discuss common pitfalls and risk areas that first-time LIHTC developers should be aware of so they can avoid them. They discuss tax credit deadlines, tax credit construction-related issues and lease-up and stabilization issues.