Novogradac & Company Llp

Michael J. Novogradac, CPA, discusses a hearing that will be held this week on federal support for financial institutions and a policy forum held last week on the topic of tax reform. Then he discusses the much-anticipated release of updated eligible census tract data for the new markets tax credit program and describes the transition period provided by the CDFI Fund for new markets professionals to adjust to the new data. Next, he examines the long-awaited final low-income housing tax credit qualified contract regulations, shares analysis of the newlydesignated 2013 qualified census tracts and briefly discuss low-income housing tax credit property disposition guidance released by the IRS. In the historic tax credit discussion he shares statistics about conservation easement cases currently on the U.S. Tax Court's docket and previews the Advisory Council on Historic Preservation's next quarterly meeting. Finally, in the renewable energy segment, he discusses the provisions of the IMPACT Act, which would exten