Jan. 12, 2021: New Markets Tax Credit Extension and Updates

Published by Michael Novogradac on Tuesday, January 12, 2021 - 1:00pm

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, is joined by Nicolo Pinoli, CPA, and partner in Novogradac’s Portland, Oregon, office. They start by discussing the recent five-year extension of the new markets tax credit, and how various factors can affect NMTC investment, such as Biden administration priorities and Community Reinvestment Act regulations. Next, they share insight into how industry participants are responding to the COVID-19 pandemic challenges. They wrap up with discussion of what community development entities can be doing now to prepare for the 2020 new markets tax credit awards announcement expected this summer and the opening of the 2021 allocation round.