Novogradac & Company Llp

Michael J. Novogradac, CPA, shares an update on what's in store for Congress. He also discusses recent comments from a representative of the Joint Committee on Taxation regarding the codification of the economic substance doctrine; reviews newly posted fair market rents for 2011; talks about IRS LIHC Newsletter #41; mentions potential changes to NCSHA's recommended practices and shares proposed changes to California's readiness scoring regulations. Next, he discusses highlights from a newsletter from the Office of the Comptroller of the Currency and a preview of an article from the Novogradac Journal of Tax Credits that includes tips on repairing and restoring windows in historic tax credit projects. Then he discusses two Senate bills would extend energy tax incentives, and the potential impact of the financial reform bill on renewable energy tax credit investment. Finally, he closes with a couple tax credit tidbits.