September 20, 2011

Published by Michael Novogradac on Tuesday, September 20, 2011 - 2:00pm

Michael J. Novogradac, CPA, considers what President Obama’s deficit reduction plan may mean for tax credits; shares an update on the Deficit Reduction Super Committee; discusses the status of the federal budget; highlights items of interest in the IRS’s Priority Guidance plan; shares remarks about eliminating tax expenditures from a recent Senate Finance Committee hearing; and discusses a Ways and Means hearing about economic models used to score tax reform legislation. Then, he discusses the Healthy Food Financing Initiative and analyzes the latest QEI Issuance report released by the CDFI Fund. Next, he reviews a bill introduced last week to extend Midwestern Disaster Tax Credits. Then, he summarizes an IRS notice giving emergency LIHTC relief to properties in Vermont. Finally, he previews a joint hearing on the intersection of energy policy and tax policy and provides a quick update on a change to Oregon’s Business Energy Tax Credit.