IRS/Tax Issues

On behalf of the entire staff at NH&RA, we wish you a happy and healthy Holiday season!

United States Senate Committee on Finance has scheduled a hearing on December 2, entitled “Tax Reform: Historical Trends in Income and Revenue.”

NH&RA is pleased to offer the PowerPoint slide presentations for sessions exhibited during the 2010 Fall Developers Forum, October 18 & 19 in Boston, Mass.

The IRS has announced in an administrative notice (2010-74) that there will be no unused housing credit carryover to be allocated to states for calendar year 2010.

NCAHMA welcomed roughly 100 professionals to Chicago for its 2010 Affordable Housing Underwriting Conference & Annual Meeting on October 5-6. The event was one of NCAHMA’s best turnouts ever! If you missed it, don’t worry! You can download all of the PowerPoint presentations offered during the conference.

The Internal Revenue Service (IRS) has invited public comments on Treasury Decision (TD) 8563, State Housing Credit Ceiling and Other Rules Relating to the Low-Income Housing Credit.

NH&RA is pleased to announce we’ll be extending early registration for our Fall Developers Forum one additional week. Register by 9/24 to take advantage of our early registration discount.

The Internal Revenue Service has issued a new notice (Notice 2010-62) that provides interim guidance regarding a provision of the 2010 health care reform law that codified the economic substance doctrine and related amendments to various penalties.

The U.S. Senate failed to clear a critical procedural hurdle on a new compromise version of HR 4213, the American Jobs and Closing Tax Loopholes Act of 2010 (Tax Extenders Legislation) on June 24. It is unclear when the measure will be taken up again. The current version of the measure includes a number of key tax credit provisions…

The Department of the Treasury, as part of its continuing effort to reduce paperwork and respondent burden, invites the general public and other Federal agencies to take this opportunity to comment on proposed and/or continuing information collections, as required by the Paperwork Reduction Act of 1995, Public Law 104-13 (44 U.S.C. 3506(c)(2)(A)).

The law firm Goulston & Storrs LLP recently issued an advisory entitled “A Real Estate Developer’s Guide to Carried Interest Legislation.”

NH&RA is please to offer TEN digital audio recordings of select panel sessions from its recent 2010 Summer Institute & Pre-Conference Symposium on New Markets Tax Credits!