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Novogradac 2020 Year-End Tax Provisions Webinar
This webinar airs from 1 p.m. to 2:30 p.m. ET (10 a.m. to 11:30 a.m. PT)
This webinar addresses affordable housing, community development, renewable energy and energy efficiency tax provisions included in the fiscal year (FY) 2021 Omnibus Appropriations and COVID-19 Relief Legislation.
Michael Novogradac, CPA
Nat Eng, CPA
Dirk Wallace, CPA
Tax Policy Research Associate, Public Policy
Director of Public Policy and Government Relations
Low-income housing tax credits
- 4% floor, with a focus on the effective date
- Disaster LIHTC authority; additional states beyond California-only and more flexible timeline; new precedent of Congress 10% test deadline for properties in disaster areas
- Benefit of 30-year ADS depreciation being expanded to properties placed in service before Jan. 1, 2018
New markets tax credits
- Five-year extension at $5 billion per year
Renewable energy tax credits
- PTC extension at 60% through end of 2021
- ITC extension at 26% through end of 2022
- Waste heat to power added to ITC eligibility
- Offshore wind extended to end of 2025 at 30%
- IRC Section 179D commercial property deduction for energy efficiency improvements made permanent
- Can be used for multifamily housing
- Energy efficiency standards updated annually
- Per square foot credit indexed for inflation
- IRC Section 45L new energy efficient home tax credit extended through end of 2021
- $2,000 per-unit tax credit
All parties involved in community development tax incentives—developers, lenders, investors, government officials, attorneys, accountants, and others.
Multiple Registrants: $100/person ($85/person for nonprofits)
*The registration fee for live online webinars and for webinar recordings covers a SINGLE VIEWER ONLY. If multiple persons within an organization wish to view the webinar and/or its recording (regardless of whether they view it on a single computer or multiple computers), the organization must purchase a registration for each person.