August 9, 2011

Michael J. Novogradac, CPA, discusses key dates ahead for the deficit reduction efforts in Washington, D.C. Then he summarizes new information about the 2011 new markets tax credit allocation applicants. He also discusses two bills introduced last week that would expand the use of new markets tax credits and examines the latest QEI issuance report. In the historic tax credit segment, he provides an update on the IRS appeal in the Historic Boardwalk Hall case and discusses efforts in Missouri to significantly limit the state historic tax credit. In the low-income housing tax credit discussion, he summarizes IRS guidance that will provide relief to bond issuers and the affordable housing community. He also discusses the developments of a recent lowincome housing tax credit stakeholder meeting. And finally, in the renewable energy tax credit section, he discusses a market report that indicates a rebound in the wind energy sector, as well as a new federal report on energy investments and subsidies.