Novogradac & Company Llp

Michael J. Novogradac, CPA, discusses the fiscal cliff and the sequestration transparency act as well as the latest Basel III updates. In low-income housing tax credit news, he talks about the Internal Revenue Service's utility allowance, proposed U.S. Department of Housing and Urban Development proposed 2013 fair market rents, the Affordable Housing for Moderate-Income Seniors Act and the latest developments in the Texas fair housing case. In new markets tax credit news, he alerts readers to a new Office of the Inspector General of the Treasury's audit of the American Recovery and Reinvestment Act new markets tax credit allocations, new community development entities and the approaching 2012 allocation round deadline. In renewable energy tax credit news, he discusses the Office of Inspector General's latest Section 1603 project audits. Mr. Novogradac wraps up with some disappointing historic tax credit news about the Massachusetts historic tax credit program.