Novogradac & Company Llp

Michael J. Novogradac, CPA, discusses the status of the federal budget and upcoming guidance expected from the Federal Accounting Standards Board that will significantly affect the real estate industry. In the low-income housing tax credit discussion, he reviews HUD's final 2012 fair market rents, HUD's plan to release income limit data each year on December 1, and the latest IRS LIHC Newsletter. Then he discusses testimony he gave at last week's IRS hearing on proposed changes to the new markets tax credit regulations. Next, he looks at some of the last loan guarantees finalized under the Section 1705 program, and the findings of a report about the size of the U.S. solar markets. Finally, he invites listeners to nominate historic tax credit projects for a Development of Distinction award and provides an update on the latest developments in Missouri. '