IRS/Tax Issues

NH&RA is pleased to offer the PowerPoint presentations given during the recent 2011 Spring Developers Forum, May 23-24 in Dana Point, CA.

NH&RA is pleased to make available the slides presented at the recent 2011 NCAHMA Spring Affordable Housing Policy & Underwriting Forum, April 27-28 in Washington, DC. Slides will be available to the public for a limited time only, and then only available to NH&RA members.

NH&RA is pleased to announce our Winter, Spring & Summer Calendar. Events including our Winter New Markets Tax Credit Symposium, 2011 Annual Meeting, Spring Policy & Underwriting Forum, Spring Developers Forum, Summer Institute and Summer New Markets Tax Credit Symposium.

NH&RA thanks Harold Berk for the following update on a recent Fourth Circuit Court decision impacting state tax credit structures.

Novogradac & Company is reporting that the U.S. Court of Appeals for the Fourth Circuit today published an opinion in the case of Virginia Historic Tax Credit Fund v. Commissioner of Internal Revenue that reverses the December 2009 U.S. Tax Court opinion.

The Internal Revenue Service (IRS) last week released an updated version of its “Guide for Completing Form 8823: Low-Income Housing Credit Agencies Report of Noncompliance or Building Disposition.”

The Department of the Treasury’s FY-2012 Budget Proposal included two major changes to the low-income housing tax credit. The changes if enacted with create a basis boost for certain bond transactions and encourage owners to create more mixed-income housing.

President Obama on Friday signed into law the Tax Relief, Unemployment Insurance Reauthorization and Job Creation Act of 2010. The House last week passed the bill by a vote of 277-148. The Senate approved the bill on December 15 by a vote of 81-19.

The Internal Revenue Service (IRS) recently released the 2011 Calendar Year Resident Population Estimates for each state.

NH&RA had perfect weather for this year’s Winter Golf Tournament at the Raptor Bay Golf Club last week in Bonita Springs, Fla. NH&RA congratulates the following prize winners.

The IRS Office of the Chief Counsel has issued a new memorandum (#201106008) addressing the taxability of Tax Credit Assistance Program (TCAP) grants.

On February 11, the Obama Administration delivered a report to Congress that present a proposal for reforming America’s housing finance market.