Starting for audits of financial statements in 2019, restricted cash and restricted cash equivalents such as tenant security deposits and self-restricted reserves will be presented differently. While minor, the result will change the beginning and ending cash and cash equivalents balances that previously were reconciled in the statement of cash flows. Read more about ASU 2016-18 here.
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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.
InsightTax credit investment market booms, but more can be done to solve housing crisisThanks to an unprecedented demand for affordable housing – and strict banking regulations – the investment market for Low-Income Housing Tax Credits is booming like never before.
InsightAffordable Housing: Accounting standards update on restricted cashBeginning with audits of financial statements for calendar year 2019, the statement of cash flows will be presented differently in your annual financial statements. This results from implementation of Accounting Standards Update (ASU) 2016-18, which modifies the treatment of restricted cash and restricted cash equivalents.