Tax Credit Tuesday Podcasts

Each Tax Credit Tuesday, Novogradac & Company LLP's audio broadcast offers an in-depth weekly look at tax credit topics. A new episode is posted here and on the RSS Feed by 1 p.m. Pacific Time every Tuesday.

Published by Michael Novogradac on June 30, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, shares highlights from the Affordable Housing Friday Forum on key low-income housing tax credit proposals that Congress may consider this year or next year, and he highlights how low-income housing tax credit investment can be affected by the Office of the Comptroller of the Currency’s Community Reinvestment Act reform as well as the presidential election. Next, he talks about the recently introduced clean energy bill called the GREEN Act. Then, he shares good news about a final rule for implementing the Volcker Rule that would allow banks to invest in and sponsor qualified opportunity funds. Finally, he discusses an announcement from HUD on the release of its biennial report of worst-case housing needs.

Published by Michael Novogradac on June 23, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses details of an infrastructure package that was introduced by House Democrats called The Moving Forward Act, which includes proposals to expand and enhance the low-income housing tax credit, new markets tax credit, historic tax credit and renewable energy tax credits. Then, he talks about two opportunity zones reports, one form the White House Opportunity and Revitalization Council and the other from the Urban Institute. Next he discusses a letter from nearly 180 House members seeking COVID-19 relief for renewable energy tax credit transactions. He then reviews extended low-income housing transaction deadlines in California, and shares details on how to apply for part of the $1 billion in federal disaster LIHTCs available in California. Finally, he shares a quick update on the status of the California state historic tax credit.

Published by Michael Novogradac on June 16, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA, discusses recently released disaster relief guidance from the IRS for new markets tax credit transactions. The guidance extends deadlines for community development entities and qualified new markets tax credit businesses. Next, he discusses the California state budget proposal and investors’ ability to claim the state low-income housing tax credit in California. Then, he shares news of the recently enacted South Carolina state low-income housing tax credit. He wraps up with discussion of proposals to extend other state credits in Louisiana and Mississippi.

Published by Michael Novogradac on June 9, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares Notice 2020-39, an update about IRS disaster relief guidance for opportunity zones investors, funds and businesses. Then, he talks about HUD’s Opportunity Zones Toolkit: Volume II, a guide to help local communities create opportunity zones plans. After that, he discusses provisions of the recently enacted Paycheck Protection Program Flexibility Act of 2020 (H.R. 7010). He also shares an update on infrastructure legislation that may be a vehicle for affordable housing and community development provisions. He discusses potentially good news about California’s state budget proposal in relation to California state low-income housing tax credits. He closes with highlights of the new Novogradac Rental Assistance Demonstration Handbook.

Published by Michael Novogradac on June 2, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares an update about two extended continuity safe harbors for renewable energy investment tax credit and production tax credit properties affected by the COVID-19 pandemic. Then, he discusses an announcement from Treasury and the Small Business Administration to set aside funding from the Paycheck Protection program for CDFIs. Next, he talks about the Paycheck Protection Program Flexibility Act of 2020, legislation passed by the House that would provide substantial changes to the Paycheck Protection Program. He then talks about a letter sent from Reps. Terri Sewell and Tom Reed to the IRS requesting temporary suspension of debt modification rules for community development entities. He wraps up by discussing the 2020 funding round for the Capital Magnet Fund.

Published by Michael Novogradac on May 26, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA discusses the final rule amending Community Reinvestment Act Regulations that was released by the Office of the Comptroller of the Currency. Next, he talks about proposed regulations released by Treasury that clarify rules for the federal historic tax credit. He then discusses an outline of affordable housing policies that Sen. Ron Wyden of Oregon will push to be included in the next round of COVID-19 relief legislation. Finally, he talks about the Paycheck Protection Program Flexibility Act that was introduced in the House, and the Senate version of the bill: The Paycheck Protection Program Extension Act.

Published by Michael Novogradac on May 19, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares findings from a Novogradac-NCSHA report that analyzes the impact of lowering the 50 percent test for 4 percent tax-exempt bond financed properties. Next, he discusses a few updates to the Paycheck Protection Program including loan forgiveness and increases in loan amounts. Then, he talks about provisions in the Health and Economic Recovery Omnibus Emergency Solutions, or HEROES Act. He then shares highlights from presidential candidate and presumptive democratic nominee Joe Biden’s recently updated housing and community development plan. He closes out with news on the revised California state budget proposal and private activity bond application deadline extensions from the California Debt Limit Allocation Committee.

Published by Michael Novogradac on May 12, 2020

In this week’s Tax Credit Tuesday podcast, Michael J. Novogradac, CPA shares important guidance and legislative updates regarding the Paycheck Protection Program. Next, he discusses the Emergency Rental Assistance and Rental Market Stabilization Act of 2020 that was introduced in the House and Senate, which creates a $100 billion emergency rental assistance fund. Then, he shares highlights from a Novogradac special report about the effect of the last national recession on low-income housing tax credit properties and what that historical data could suggest for future economic downturns. He then talks about challenges that the wind and solar industries are facing during the COVID-19 pandemic. He wraps up by announcing the Novogradac 2020 Opportunity Zones Virtual Conference and the Novogradac 2020 New Markets Tax Credit Virtual Conference.

Published by Michael Novogradac on May 5, 2020

In this week’s Tax Credit Tuesday, Michael J. Novogradac CPA, shares updates on guidance from the Internal Revenue Service relating to the review and certification of Paycheck Protection Program loans. Then, he shares an exciting announcement about a Novogradac Opportunity Funds Listing milestone for funds raised. Next, he discusses Revenue Procedure 2020-21 and IRS Notice 2020-25 which give temporary guidance for the use of private activity bonds, and he discusses some affordable housing updates related to private activity bonds and the 4 percent low-income housing tax credit. He then talks about a letter sent to Treasury by nine Republican senators urging Treasury to provide relief for opportunity zones in the wake of COVID-19, and he discusses details of a letter sent by the Novogradac New Markets Tax Credit Working Group to Treasury and the CDFI Fund to issue guidance and postpone certain deadlines due to the pandemic. Next, he discusses IRS Revenue Procedure 2020-29 which temporarily allows taxpayers to electronically submit requests for private letter rulings and other requests for advice. Finally, he talks about changes proposed by the California Tax Credit Allocation Committee for allocating 2020 low-income housing tax credits.

Published by Michael Novogradac on April 28, 2020

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA covers the recently enacted Paycheck Protection Program and Health Care Enhancement Act. Then, he discusses future COVID-19 relief legislation that may include provisions of the Affordable Housing Credit Improvement Act, the HTC-GO Act and an increase in the federal historic tax credit percentage. He wraps up with news of a forthcoming update to the Novogradac Opportunity Funds Listing.