Novogradac & Company Llp

Michael J. Novogradac, CPA, discusses the latest tax credit industry news for the week of Oct. 23, 2012. In general tax credit news, he informs listeners about a Joint Committee on Taxation experiment that explored eliminating tax expenditures, updated listeners about the results of his Lame Duck Congress poll and reveals his own thoughts on the likely outcome. In low-income housing tax credit news, he alerts listeners to the Internal Revenue Service's distribution of unused 2012 LIHTC allocation and its announcement of inflation-adjusted 2013 volume caps as well as a change to rural populations that could affect LIHTC properties and a new industry group that aims to keep municipal bonds tax exempt. In historic tax credit news, he reports on a pledge from Rhode Island State Rep. Jeremiah O'Grady to push for an extension of the state's HTC program and a request for a rehearing of the Historic Boardwalk Hall case. In renewable energy tax credit news, he alerts listeners to an opportunity to provide comment on a