Novogradac & Company LLP Sends Comment Letter on IRS 2006-2007 Guidance Priority List

Tuesday, May 16, 2006 - 1:45pm

Novogradac & Company LLP yesterday sent a comment letter the Internal Revenue Service (IRS) in response to Notice 2006-36, which invited recommendations for the 2006-2007 Guidance Priority List. The letter requests guidance on several items related to the new markets tax credit (NMTC), including partnership allocations, redemption, reinvestment rules for equity investments and the application of the reasonable expectations test. Click here for a copy of the letter.