Novogradac & Company Llp

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses IRS Notice 2020-53 that provides anticipated COVID-19 relief measures for low-income housing tax credit properties. Then, he talks about the Joint Committee on Taxation's scoring of provisions in the Moving Forward Act infrastructure legislation, which contains low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credit provisions. Next, he shares an update on the extension of the Paycheck Protection Program. He then discusses highlights from the New Markets Tax Credit Coalition's annual report on the NMTC. He wraps up with updates about funding for the Rhode Island state historic tax credit and the California low-income housing tax credit.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares highlights from the Affordable Housing Friday Forum on key low-income housing tax credit proposals that Congress may consider this year or next year, and he highlights how low-income housing tax credit investment can be affected by the Office of the Comptroller of the Currency's Community Reinvestment Act reform as well as the presidential election. Next, he talks about the recently introduced clean energy bill called the GREEN Act. Then, he shares good news about a final rule for implementing the Volcker Rule that would allow banks to invest in and sponsor qualified opportunity funds. Finally, he discusses an announcement from HUD on the release of its biennial report of worst-case housing needs.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses details of an infrastructure package that was introduced by House Democrats called The Moving Forward Act, which includes proposals to expand and enhance the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. Then, he talks about two opportunity zones reports, one form the White House Opportunity and Revitalization Council and the other from the Urban Institute. Next he discusses a letter from nearly 180 House members seeking COVID-19 relief for renewable energy tax credit transactions. He then reviews extended low-income housing transaction deadlines in California, and shares details on how to apply for part of the $1 billion in federal disaster LIHTCs available in California. Finally, he shares a quick update on the status of the California state historic tax credit.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses recently released disaster relief guidance from the IRS for new markets tax credit transactions. The guidance extends deadlines for community development entities and qualified new markets tax credit businesses. Next, he discusses the California state budget proposal and investors' ability to claim the state low-income housing tax credit in California. Then, he shares news of the recently enacted South Carolina state low-income housing tax credit. He wraps up with discussion of proposals to extend other state credits in Louisiana and Mississippi.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares Notice 2020-39, an update about IRS disaster relief guidance for opportunity zones investors, funds and businesses. Then, he talks about HUD's Opportunity Zones Toolkit: Volume II, a guide to help local communities create opportunity zones plans. After that, he discusses provisions of the recently enacted Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010). He also shares an update on infrastructure legislation that may be a vehicle for affordable housing and community development provisions. He discusses potentially good news about California's state budget proposal in relation to California state low-income housing tax credits. He closes with highlights of the new Novogradac Rental Assistance Demonstration Handbook.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares an update about two extended continuity safe harbors for renewable energy investment tax credit and production tax credit properties affected by the COVID-19 pandemic. Then, he discusses an announcement from Treasury and the Small Business Administration to set aside funding from the Paycheck Protection program for CDFIs. Next, he talks about the Paycheck Protection Program Flexibility Act of 2020, legislation passed by the House that would provide substantial changes to the Paycheck Protection Program. He then talks about a letter sent from Reps. Terri Sewell and Tom Reed to the IRS requesting temporary suspension of debt modification rules for community development entities. He wraps up by discussing the 2020 funding round for the Capital Magnet Fund.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses the final rule amending Community Reinvestment Act Regulations that was released by the Office of the Comptroller of the Currency. Next, he talks about proposed regulations released by Treasury that clarify rules for the federal historic tax credit. He then discusses an outline of affordable housing policies that Sen. Ron Wyden of Oregon will push to be included in the next round of COVID-19 relief legislation. Finally, he talks about the Paycheck Protection Program Flexibility Act that was introduced in the House, and the Senate version of the bill: The Paycheck Protection Program Extension Act.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares findings from a Novogradac-NCSHA report that analyzes the impact of lowering the 50 percent test for 4 percent tax-exempt bond financed properties. Next, he discusses a few updates to the Paycheck Protection Program including loan forgiveness and increases in loan amounts. Then, he talks about provisions in the Health and Economic Recovery Omnibus Emergency Solutions, or HEROES Act. He then shares highlights from presidential candidate and presumptive democratic nominee Joe Biden's recently updated housing and community development plan. He closes out with news on the revised California state budget proposal and private activity bond application deadline extensions from the California Debt Limit Allocation Committee.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares important guidance and legislative updates regarding the Paycheck Protection Program. Next, he discusses the Emergency Rental Assistance and Rental Market Stabilization Act of 2020 that was introduced in the House and Senate, which creates a $100 billion emergency rental assistance fund. Then, he shares highlights from a Novogradac special report about the effect of the last national recession on low-income housing tax credit properties and what that historical data could suggest for future economic downturns. He then talks about challenges that the wind and solar industries are facing during the COVID-19 pandemic. He wraps up by announcing the Novogradac 2020 Opportunity Zones Virtual Conference and the Novogradac 2020 New Markets Tax Credit Virtual Conference.

In this week's Tax Credit Tuesday, Michael J. Novogradac CPA, shares updates on guidance from the Internal Revenue Service relating to the review and certification of Paycheck Protection Program loans. Then, he shares an exciting announcement about a Novogradac Opportunity Funds Listing milestone for funds raised. Next, he discusses Revenue Procedure 2020-21 and IRS Notice 2020-25 which give temporary guidance for the use of private activity bonds, and he discusses some affordable housing updates related to private activity bonds and the 4 percent low-income housing tax credit. He then talks about a letter sent to Treasury by nine Republican senators urging Treasury to provide relief for opportunity zones in the wake of COVID-19, and he discusses details of a letter sent by the Novogradac New Markets Tax Credit Working Group to Treasury and the CDFI Fund to issue guidance and postpone certain deadlines due to the pandemic. Next, he discusses IRS Revenue Procedure 2020-29 which temporarily allows taxpayers to

In this week's Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA covers the recently enacted Paycheck Protection Program and Health Care Enhancement Act. Then, he discusses future COVID-19 relief legislation that may include provisions of the Affordable Housing Credit Improvement Act, the HTC-GO Act and an increase in the federal historic tax credit percentage. He wraps up with news of a forthcoming update to the Novogradac Opportunity Funds Listing.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, gives an update on COVID-19 relief legislation including proposals for additional funding for the Small Business Association's Paycheck Protection Program, establishing a minimum 4 percent floor for the low-income housing tax credit and a reduction of the 50 percent test. Then he talks about the introduced Opportunity Zone Extension Act (H.R. 6513).' He also discusses low-income housing tax credit deadline extensions that were included in IRS Notice 2020-23. He wraps up by discussing two mortgagee letters from HUD that provide guidance on certain FHA and HUD 223(f) loans.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA continues coverage of responses to the COVID-19 pandemic. He discusses proposed relief legislation and future phases of COVID-19 relief legislation. Next, he discusses Notice 2020-23 from the IRS which, among other provisions, extends the 180-day deadline to invest capital gains in qualified opportunity funds. He then talks about IRS Revenue Procedure 2020-23 that allows partnership tax returns from 2018, and some from 2019, to be amended because of certain changes that were included in the CARES Act. Then, he discusses a letter from the Novogradac Opportunity Zones Working Group that was sent to Treasury and the IRS requesting relief from certain opportunity zones deadlines. He also talks about highlights from comment letters sent by three Novogradac Working Groups to the OCC and FDIC on proposed CRA changes. He wraps up with discussion of deadline extensions from the CDFI Fund, the California Tax Credit Allocation Committee, and the India

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses next steps for a fourth phase of COVID-19 relief legislation and what provisions could be included. Next he discusses the challenges that the COVID-19 pandemic is bringing to the affordable rental housing community, including low-income housing tax credit financed housing. Then, he talks about the HUD income limits for 2020 that were released and the impact that the COVID-19 pandemic will have on future income limits. Finally, he discusses a notice from the IRS with corrections to the final opportunity zones regulations that were published in January.

In this week's Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA outlines provisions of the recently passed Coronavirus Aid, Relief and Economic Security, or CARES, Act. Then, he discusses how the COVID-19 pandemic could affect future HUD income limits. He wraps up with news from USDA Rural Development on changes to single-family and multifamily housing related to the COVID-19 pandemic.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA outlines several COVID-19 relief legislation packages including the recently enacted Families First Coronavirus Response Act (H.R. 6201). He also discusses several proposed bills, including the Coronavirus Aid, Relief and Economic Security Act, or CARES Act (S. 3548), a draft bill from House Speaker Nancy Pelosi and the Financial Protections and Assistance for America's Consumers, States, Businesses and Vulnerable Populations Act (H.R. 6321) that was introduced by House Financial Services Committee Chairwoman Maxine Waters. Then, he discusses the extension of the tax filing and payment deadlines from the IRS, and investment expansion authorizations from the FHFA and the Federal Reserve. Next he discusses how certain lending activities related to COVID-19 would receive positive Community Reinvestment Act consideration. He also talks about announcements from HUD and the FHFA that would suspend evictions and foreclosures for certain housing an

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about federal coronavirus relief legislation and how housing and community development could play a role in those initiatives. He also discusses what coronavirus resources and relief may be available for various tax credit communities. He closes out with an update from the Federal Housing Financing Agency on its evaluation of Fannie Mae and Freddie Mac's duty to serve requirements, as well as an update on the Affordable Housing Credit Improvement Act (H.R. 3077) and the Revitalizing Economies, Housing and Businesses Act (H.R. 6175).

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, talks about low-income housing tax credit and private activity bond allocation limits in 2020. Then, he shares an update on cosponsors for the Affordable Housing Credit Improvement Act, and discusses an energy extenders amendment to the American Energy Innovation Act introduced by Senate Finance Committee Ranking Member Ron Wyden. Next, he talks about a recommendation from the California Tax Credit Allocation Committee that all developers applying for 4 percent low-income housing tax credits apply now for tax-exempt bonds. He then discusses a California Assembly Bill that would create a state-level new markets tax credit incentive. He closes with an update about the enactment of a Wisconsin state-level opportunity zones bill that doubles the capital gains exclusion for Wisconsin qualified opportunity funds.'

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses the fiscal year 2019 Capital Magnet Fund Awards and how to prepare for the fiscal year 2020 round. Then, he talks about the notice of funding availability for the CDFI program and the Native American CDFI Assistance program. He wraps up with news on updated guidance from HUD on how to layer subsidies for project-based voucher properties.

In this week's Tax Credit Tuesday podcast, Michael J. Novogradac, CPA talks about when he expects HUD's 2020 income limits to be released and what can be expected from the updated figures. Next, he shares news of the comment period extension for proposed CRA regulations, and discusses the enactment of a state LIHTC program in Maine. Finally, he discusses legislation in Connecticut that would expand the state's workforce housing program to include opportunity zones, and he shares an update on Wisconsin opportunity zones legislation that is waiting to be signed by the Gov. Tony Evers.