Affordable Housing News & Views - May 2019
After a long and highly anticipated wait, Treasury has finally lifted the veil on a new set of proposed regulations that attempts to bring additional clarity to tax breaks on investments in economically disadvantaged communities that are designated as qualified opportunity zones (QOZs). The proposed regulations, some 169 pages in length, were released on April 17, and supply additional guidance under Section 1400Z-2 of the Internal Revenue Code.
Listen in as Beth Mullen, CohnReznick’s national affordable housing practice leader, checks in with Will Eckstein, vice president of development, from Greystone, a leading investment, lending and advisory firm. Beth and Will discuss the latest trends, contract services for developers of all stripes including not-for-profits, and what they are seeing in the housing industry so far this year.
With mid-century buildings representing a vast opportunity and market advantage for well-informed practitioners, the conference covered a series of presentations and panel discussions focused on deal-structuring, approvals, tax and legal issues, including other tax credits such as NMTC and LIHTC and the latest on Opportunity Zones. Marshall Phillips, Charles Fisher and Bill MacRostie discuss a spring Mid-Century Historic conference, the latest with HTCs and other aspects to help maximize investing in community development.
AROUND THE COMMUNITY
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.
Insight2019 year-end tax planning considerations for developersLast year at this time we were all scrambling to fully understand the impact of the Tax Cuts and Jobs Act on Low Income Housing Tax Credit (LIHTC) deals. The most important decision to be made with respect to the 2018 tax return was to make the real property trade or business (RPTOB) election or not.
TopicHousing tax credit data analysis and reportSince 2012, CohnReznick’s Tax Credit Investment Services group is responsible for the nation’s most comprehensive analysis of its kind on the housing tax credit program. By tracking and analyzing the performance of more than 21,000 housing credit properties, CohnReznick’s reports help developers, investors, and other industry participants to establish best practices for acquiring, underwriting and managing tax credit investments, benchmark portfolios, examine operating expenses, and gain insight into the housing tax credits industry.
InsightAffordable Housing News & Views - November 2019Beth MullenThe latest industry insights, news, and events.
InsightCapitol Connection: Staying positive for the AHCIABob MossThe last large tax and spending Omnibus bill, the Consolidated Appropriations Act of 2018 increased the federal Low-Income Housing Tax Credit by 12.5 percent in order to offset the reduction in its value from the reduction of corporate tax rates by the Tax Cuts and Jobs Act.