Recent News

Friday, December 14, 2018

The Internal Revenue Service (IRS) yesterday released proposed regulations on the base erosion and anti-abuse tax (BEAT). The BEAT is an alternative tax applicable to large corporations with significant multinational operations, and in some cases could limit the ability of tax credit investors to utilize their tax credits to reduce their BEAT liability.

Wednesday, November 7, 2018

Results from Tuesday’s elections–with Democrats taking control of the House of Representatives and Republicans maintaining control of the Senate–and their effect on the affordable housing, community development and renewable energy communities are the subject of a Notes from Novogradac blog post and a

Friday, October 19, 2018

The Treasury Department today released the first tranche of proposed guidance for the opportunity zones (OZ) incentive, addressing gains invested in qualified opportunity funds. Treasury also released a related revenue ruling. Treasury will accept comments for 60 days.

Monday, September 10, 2018

Rep. Kevin Brady, R-Texas, today highlighted the introduction of three bills that he said constitute the Tax Reform 2.0 package from Republicans on the House Ways and Means Committee. None of the bills contain provisions directly impacting affordable housing, community development or historic preservation programs. The legislation will lock in individual and small business tax cuts made in the legislation passed in December 2017, and reform savings- and education-related tax provisions.

Friday, April 27, 2018

The Internal Revenue Service (IRS) and Treasury Department today published Notice 2018-43 to invite public recommendations on what should be included in the 2018-2019 priority guidance plan. The 2018-2019 priority guidance plan will identify which guidance projects that Treasury and the IRS will prioritize from July 1, 2018, to June 30, 2019. The deadline to submit recommendations for possible inclusion in the original 2018-2019 priority guidance plan is June 15.