The Presumption of Innocence Podcast: Episode 44 - A Recipe for Litigation: The Simmering Conflict Surrounding ERC Claims
REFRESH Nonprofit Basics: Navigating the Complex Rules That Describe a Public Charity
Expedited Review of IRS Applications for Recognition of Exempt Status
Nonprofit Quick Tip: State Filings in New Mexico and Utah
Back to Compliance: Reinstating Tax-Exempt Status for a Charity
PODCAST: Williams Mullen's Benefits Companion - IRS Clarifies Emergency Distributions Tax Exceptions
GILTI Conscience Podcast | Spotlight Series: A Celebration of Pride Month With IRS Veteran De Lon Harris
Nonprofit Quick Tip: State Filings in Oklahoma and Texas
Inflation Reduction Act Tax Trends Begin to Take Shape
Advice for Nonprofit Investment Committees From an Investment Advisor June 3, 2024 Podcast
REFRESH: Loot and Private Foundation Rules – Part 2
IRS Dirty Dozen Warnings on Charitable Scams
US Expatriate Tax Planning - Part 1 - A Podcast with Janathan Allen
Nonprofit Quick Tip: State Filings in North Carolina and South Carolina
Nonprofit Quick Tip: State Filings in Florida and Louisiana
Business Better Podcast Episode: Tax Audits, Investigations, and Global Enforcement - A Conversation with IRS Special Agent Jonathan Schnatz
4 Key Takeaways | Harnessing the Inflation Reduction Act: Driving Investments in Renewable Energy and Carbon Reduction
Nonprofit Basics: Scholarship Grant Program IRS Approval Requirements
Nonprofit Quick Tip: State Filings in Rhode Island and New Hampshire
REFRESH Nonprofit Basics: Election Year Issues for Private Foundations and Public Charities - Private Foundation Advocacy
I really don’t want to talk about ESG. (Actually, I do but pretend I don’t to bolster my well-earned reputation for balance…Hah!). ESG is so politically fraught…one person’s lodestar is another shibboleth. Tribal totem of...more
[This is the third post in our Hydrogen Blog Series. Read the first post here and the second post here] One of the biggest hurdles for clean hydrogen is high costs. The Department of Energy graph below says it all. Today, a...more
The low-income communities bonus credit (the LIC Bonus), which was introduced by the Inflation Reduction Act of 2022 (the IRA), provides an enhanced tax credit for renewable energy projects located in designated low-income...more
Outlook for This Week in the Nation’s Capital - Congress. The House and Senate are both in recess until Labor Day. Once they return, they will have a packed to-do list ahead of the November elections, which may include...more
Transfers of real property to certain qualifying entities will no longer be subject to real estate excise tax in Washington State, effective on January 1, 2023. The Washington State Legislature passed Engrossed House Bill...more
Summary - The IRS has extended certain deadlines relating to affordable housing projects with Low Income Housing Tax Credits (LIHTC) under Section 42 of the Internal Revenue Code of 1986, as amended (the Code) or financed...more
The Consolidated Appropriations Act, 2021 (the CCA) became law this past Sunday. The CCA has several features of interest to the low-income housing community. 4% Deal Floor: The 4% low-income housing tax credit is worthy of...more
In 2017, the Tax Cuts and Jobs Act (the “Act”) added a third minimum set-aside option to qualify a project as a qualified low-income project pursuant to Code Section 42(g)(1)(C) - the Average Income Set-Aside. The Average...more
On July 1, 2020, the IRS issued proposed regulations (REG-123027-19; RIN 1545-BP59) (Regulations) governing compliance-monitoring for low-income housing tax credit (LIHTC) projects and issued Notice 2020-53 (Notice) in...more
The Los Angeles City Council recently considered a vacancy tax intended to reduce the number of vacant residential units. The proposed Empty Homes Tax would aim to address homelessness by penalizing residential landlords for...more
The IRS recently released Notice 2020-23 which gives affordable housing partnerships (an “Affected Taxpayer”) the ability to postpone certain “time- sensitive acts” that are listed at Section 15 of Revenue Procedure 2018-58....more
"There are a few ways to obtain low-income housing tax credits. Each program has stress points in making it work, so there isn’t always a clear choice. Timing is often a decisive factor."...more
Nashville’s public, private and nonprofit sectors converged recently to explore how the new Opportunity Zones incentive program could impact affordable housing in Nashville. ...more
On Monday, the IRS will publish final utility allowance regulations for low-income housing tax credit (LIHTC) properties under Section 42 of the Internal Revenue Code (Code)....more
Vermont's Leadership Team - Vermont’s leadership team largely stayed the course in 2017. Governor Phil Scott and Michael Pieciak, the Commissioner of the Department of Financial Regulation (the “DFR”), each completed a...more
The Consolidated Appropriations Act of 2018, which was signed into law on March 23, 2018, included two provisions affecting the low-income housing tax credit (“LIHTC”) program. One provision temporarily increased the total...more
Changes at the Top - Republican Phil Scott was elected Governor of Vermont in November 2016, having previously served as Lieutenant Governor for six years. Governor Scott has re-appointed Michael Pieciak to serve as the...more
Last week at the annual meeting of the American Bar Association Forum on Affordable Housing and Community Development (Forum), Michael Novey, Associate Tax Legislative Counsel, Office of Tax Policy, U.S. Department of the...more
After legislation to repeal the Affordable Care Act was pulled from the House floor last Friday, news headlines across the country began reporting that tax reform is next on the Trump Administration’s agenda. As noted in our...more
Owners, Developers Face Challenges Converting Parking to E-Commerce Delivery Space - Because millennials make up an increasing number of urban residents, owners and developers of apartment and condominium buildings are...more
The 7520 rate for July 2016 has remained at 1.8%. The July 2016 Applicable Federal Interest Rates can be found below. Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments Issued for...more
Section 1274.--Determination of Issue Price in the Case of Certain Debt Instruments Issued for Property - (Also Sections 42, 280G, 382, 412, 467, 468, 482, 483, 642, 807, 846, 1288, 7520, 7872.) Rev. Rul. 2016-09 - ...more
The IRS recently ruled that a private foundation’s proposed acquisition of 100% of a low-income housing project would not subject the foundation to either excess business holdings tax or unrelated business income tax. See PLR...more
The 7520 rate for February 2016 will stay at 2.2%. The February 2016 Applicable Federal Interest Rates can be found here. ...more
On Friday, October 3, 2014, HUD released a notice announcing new “Qualified Census Tract” (“QCT”) and “Difficult Development Area” (“DDA”) designations for purposes of the low-income housing tax credit under Section 42 of the...more