If you are a contractor participating in the Paycheck Protection Program (PPP) and hope to benefit from loan forgiveness, numerous issues and pitfalls need to be understood. Be prepared and learn more about the PPP’s impact, additional guidance from the SBA, and areas yet to be fully defined. During this on-demand webinar, CohnReznick’s Jack Callahan, national Construction practice leader, and Anthony Campolo, a leader in the construction practice, discuss numerous issues, including how to handle:
- Maximizing your total eligible forgiveness amount
- Identifying, quantifying, and accounting for allowable eligible costs under the program
- Determining if your loan forgiveness amount will be reduced (and how to avoid reductions)
- Best practices on how to track your eligible allowable costs
- Other pitfalls to avoid
Any advice contained in this communication, including attachments and enclosures, is not intended as a thorough, in-depth analysis of specific issues. Nor is it sufficient to avoid tax-related penalties. This has been prepared for information purposes and general guidance only and does not constitute professional advice. You should not act upon the information contained in this publication without obtaining specific professional advice. No representation or warranty (express or implied) is made as to the accuracy or completeness of the information contained in this publication, and CohnReznick LLP, its members, employees and agents accept no liability, and disclaim all responsibility, for the consequences of you or anyone else acting, or refraining to act, in reliance on the information contained in this publication or for any decision based on it.
Coronavirus Resource Center
Affordable Housing News & Views
InsightIRS issues guidance on Low-Income Housing Tax Credit (LIHTC) fixed 4% rateThe IRS has clarified how the new floor applies to Low-Income Housing Tax Credit projects based on bond issuance and credit allocation dates. Read more.
InsightAffordable Housing CRedit ReportThis report, the latest in our biennial series, provides comprehensive data, analysis, and insights into the latest performance trends observed across the surveyed portfolio, collected from more than 30,000 housing tax credit properties. Use it to benchmark portfolios, develop best practices, and gain insights into the affordable housing industry.
Interactive DataAffordable Housing CRedit ToolCohnReznick has collected and analyzed data from more than 30,000 low-income housing tax credit (LIHTC) properties across every state and U.S. territory. Use our CRedit Tool to explore interactive data for historical national, state, and county-based operating performance trends, and read the 2021 Affordable Housing CRedit Study, the latest in our series of comprehensive biennial reports.
Press ReleaseCohnReznick publishes major study on Housing Tax Credit Property PerformanceCohnReznick, one of the top advisory, assurance, and tax firms in the country, and a national leader in affordable housing, today announced the publication of its 2021 Affordable Housing CRedit Study.