April 23, 2013

Published by Michael Novogradac on Tuesday, April 23, 2013 - 1:00pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses a letter that representatives have sent House Speaker John Boehner a letter urging Hurricane Sandy relief, as well as an updated Simpson-Bowles deficit plan and a Ways and Means Committee hearing on residential real estate and tax reform. In renewable energy tax credit news, he alerts listeners to long-awaited Internal Revenue Service guidance on when projects have “begun construction” for investment tax credit and production tax credit purposes, and alerts listeners to the reintroduction of the Security in Energy and Manufacturing Act (SEAM) Act and the Make It in America: Create Clean Energy Manufacturing Jobs in America Act. In low-income housing tax credit (LIHTC) news, he discusses the Financial Accounting Standards Board Emerging Issues Task Force proposed changes to LIHTC-related GAAP rules and Standard & Poor’s proposed changes to how it rates multifamily housing bonds. In new markets tax credit news, he discusses the Senate approval of a bill reauthorizing the Missouri NMTC program. In historic tax credit (HTC) news, he discusses a Wisconsin bill that would quadruple the amount of HTCs to qualified projects.