Historic Tax Credits Briefs - September 2020

Friday, September 4, 2020

The Internal Revenue Service July 30 published Notice 2020-58 to provide additional COVID-19 relief to taxpayers in satisfying the substantial rehabilitation test for the historic tax credit (HTC). Taxpayers with a 24- or 60-month measuring period under the substantial rehabilitation test ending on or after April 1, 2020, and before March 31, 2021, now have until March 31, 2021, to satisfy the test for claiming the HTC or qualifying under the transition rule provided in tax reform legislation at the end of 2017.

Journal Category: 
Historic Tax Credits