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 October 8, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about draft forms and instructions for forms 1040 and 1099-B relating to opportunity zones, and the White House Opportunity and Revitalization Council’s website for stakeholders that launched last week. Then he provides an update on when we can expect updated regulations for opportunity zones to be released, and mentions that issues concerning updated regulations have been discussed in a blog post and will be discussed in an upcoming conference. Next he shares highlights from the Novogradac 2019 Credit and Bond Financing for Affordable Housing Conference including Developments of Distinction award winners and important information from panel discussions and sessions including a case study of the average income test. After that, he discusses new model forms for state compliance agencies released by the National Council of State Housing Agencies, and upgrades in how much Freddie Mac and Fannie Mae can retain in capital reserves as a step towards moving them out of conservatorship. Then, he talks about the updated new markets tax credit application and FAQ released by the CDFI Fund, and legislation that was introduced to reinstate the Section 45L credit that expired at the end of 2017. Finally, he talks about a Wisconsin bill that was introduced to increase the tax benefit for investors in qualified opportunity funds.

Published by Michael Novogradac on October 1, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the stopgap funding bill that prevented a government shutdown and will keep the government funded through Nov. 21. Then he shares highlights from the Novogradac 2019 Historic Tax Credit Conference in St. Louis, including insights from Sen. Bill Cassidy’s keynote address. After that, he discusses the summary of the annual historic tax credit investment report by Rutgers University and the National Parks Service, and shares guidance updates from the IRS on the Section 199A deduction. He then shares insight on the draft IRS Form 8997 for opportunity fund investments, and news on HUD and FHA incentives for hospitals and care facilities in opportunity zones. Next, he discusses a comment letter that was submitted by a group of state economic development officials to the IRS on proposed rules for investing in qualified opportunity funds. Finally, he shares news on amendments to the Missouri state historic tax credit program.

Published by Michael Novogradac on September 24, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional efforts to avoid a government shutdown on Oct. 1. After that, he shares details on proposed appropriations funding for HUD for fiscal year 2020, then provides an update with details about the Novogradac Opportunity Funds Listing. He also talks about HUD’s proposed rule change to implement provisions of the Housing Opportunity Through Modernization Act, shares what cities received Choice Neighborhoods awards, and provides an update about an IRS notice providing relief for low-income housing tax credit properties in areas of California hit by last year’s wildfires. He also shares about a California state historic tax credit and efforts in Michigan to promote opportunity zones.

Published by Michael Novogradac on September 17, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about Congressional efforts on a continuing resolution bill to fund the federal government past the Sept. 30 deadline. After that, he’ll talk about a hearing on housing reform finance plans, followed by a discussion of three bills: one to encourage property sales to public housing authorities, one to incentivize building more housing near transit and another to expand and extend the energy-efficient new home credit. He’ll also share insight on final regulations on 100 percent expensing under Section 168(k), as well as information about updated certification requirements for the CDFI program and the Native American CDFI Assistance applicants. He’ll close with information from California on opportunity zone conformity legislation, a rent control bill that passed the legislature and a survey on the state’s expanded low-income housing tax credit.

Published by Michael Novogradac on September 10, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about a plan by House Democrats to consider a continuing resolution to avoid a government shutdown at the end of this month. After that, he’ll discuss Treasury and HUD’s housing finance reform plans for Fannie Mae and Freddie Mac. Then, he’ll share details about a long-awaited notice from HUD that revises and expands its Rental Assistance Demonstration program, followed by news on the opening of the 2019 new markets tax credit allocation round. He’ll also talk about updated opportunity zones frequently asked questions, a request for comment from the Commerce Department on opportunity zones and some analysis on fiscal year 2020 fair market rents. That’s followed by some brief news on Cross Refined Coal LLC and USA Refined Coal LLC vs. the Commissioner of Internal Revenue, a recent tax court ruling that may have implications for tax credit incentive investments. And, he’ll close with the status of California A.B. 10, a proposal to authorize an additional $500 million in state low-income housing tax credits annually for five years.

Published by Michael Novogradac on September 3, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the latest report from the Senate Finance Committee’s Tax Extenders Task Forces, which includes feedback on extension of the new markets tax credit. He also shares an update on cosponsors for the New Markets Tax Credit Extension Act and the Affordable Housing Credit Improvement Act, as well as an overview of the U.S. Department of Housing and Urban Development’s release of fiscal year 2020 fair market rents. He closes out by sharing information about Treasury’s fourth-quarter update on its 2018-2019 priority guidance plan, an upcoming meeting for the CDFI Fund’s advisory board and a grant program to provide incentives for opportunity zones investments in New Mexico.

Published by Michael Novogradac on August 27, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the fall schedule of Novogradac tax incentive conferences, including agenda highlights, keynote speakers and preconference workshops. He also shares news about a bill that would extend the production tax credit for some renewable energy technologies, as well as a HUD demonstration program for physical inspection of real estate. He closes out by discussing proposed changes to California’s state regulations for the low-income housing tax credit, a bill that would have California partially conform to the Internal Revenue Code concerning opportunity zones investments and guidance about the Kentucky state historic tax credit.

Published by Michael Novogradac on August 20, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the first three reports by the Senate Finance Committee’s Tax Extenders Task Forces. He also shares news about recent IRS guidance on bonus depreciation (Rev. Proc. 2019-33) and on California’s massive investment in affordable housing through its annual budget. He closes out with a HUD proposed rule on the disparate impact standard and the announcement of new directors for the California Tax Credit Allocation Committee and California Debt Limit Allocation Committee. 

Published by Michael Novogradac on August 13, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the potential timing of the opening of the next round for the new markets tax credit. He also discusses when Treasury might finalize opportunity zones regulations. He closes out with HUD’s announcement that the Federal Housing Administration will insure mortgages on mixed-use development in opportunity zones.

Published by Michael Novogradac on August 6, 2019

In this week’s Tax Credit Tuesday Podcast, Michael J. Novogradac, CPA, talks about the budget and debt limit agreement becoming law and what’s next for Congressional appropriators. He also discusses the status of the Senate Finance Committee’s tax extenders task forces and when their findings might be released, as well as what Democrat presidential candidates have to say about affordable housing and renewable energy. He closes out with an update on the new Congressional district fact sheets from the ACTION Campaign and a legal opinion on the state historic tax credit from the Arkansas Department of Finance and Administration.