Novogradac & Company Llp

Michael J. Novogradac, CPA, discusses support for tax extenders legislation and the Financial Accounting Foundation's Private Company Council in general tax credit news. In low-income housing tax credit news, he discusses Sen. Maria Cantwell's call to extend the fixed 9 percent floor for the LIHTC, the Internal Revenue Service's most recent LIHC newsletter and a tax expenditure report from New Mexico. In new markets tax credit news, he alerts listeners to a call from freshman Republican senators to extend the new markets tax credit. In historic tax credit news, he discusses the passage of S. 3245 and the renewal of the EB-5 program, as well as Ohio's ninth round of state historic tax credits. Finally, in renewable energy news, he alerts listeners to the growing support for the wind production tax credit and two Section 1603-related topics: a revival of the Section 1603 program for biodigesters and changes to the Treasury's Section 1603 system.