April 21, 2020

Published by Michael Novogradac on Tuesday, April 21, 2020 - 2:45pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, gives an update on COVID-19 relief legislation including proposals for additional funding for the Small Business Association’s Paycheck Protection Program, establishing a minimum 4 percent floor for the low-income housing tax credit and a reduction of the 50 percent test. Then he talks about the introduced Opportunity Zone Extension Act (H.R. 6513).  He also discusses low-income housing tax credit deadline extensions that were included in IRS Notice 2020-23. He wraps up by discussing two mortgagee letters from HUD that provide guidance on certain FHA and HUD 223(f) loans.