CPAs get an extra 30 days to file HUD reports.

In response to the AICPA'S expressed concerns about CPAs' heavy auditing workloads, the Department of Housing and Urban Development extended the deadline for filing audited financial statements for multifamily housing projects. Formerly, such statements were due 60 days after a project's fiscal year ended; effective immediately, that time frame is increased to 90 days. Details of the new requirements are available at www.hud.gov/reac/ secondcycle.pdf.