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Low-Income Communities Bonus Credit Program
AAFCPAs would like to make clients aware that, on August 10, 2023, the IRS and Treasury issued final guidance under the Inflation Reduction Act (IRA)…
AAFCPAs Blog.
A resource for finance and business leaders seeking timely insights, practical guidance, and industry perspective. Explore content across accounting, tax, audit, and advisory topics to support informed decision-making.
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Tax Credit Transaction Advisory
Historic Tax Credit: Changes Proposed to Make it More Accessible, Attractive
On March 2, 2023, Senators Cardin (Maryland), Cassidy (Louisiana), Cantwell (Washington), and Collins (Maine) reintroduced the Historic Tax Credit Growth and Opportunity Act (HTC-GO). This…
Matt McGinnis
Guidance: CECL Standard for CDFIs
The long-awaited Current Expected Credit Losses (CECL) Standard, Accounting Standards Update 2016-13 – Financial Instruments-Credit Losses (Topic 326) will be effective for nonpublic business entities…
Real Estate
Affordable Housing Sponsors Approaching LIHTC Property Transitions
The Low-Income Housing Tax Credit (LIHTC) program, enacted in 1987, has been paramount for financing the construction and rehabilitation of properties in low-income communities. The…
Tax Credit Transaction Advisory
Inflation Reduction Act Benefits Affordable and Low-Income Housing Developers
AAFCPAs would like to make real estate clients aware of important credits and incentives defined in the Inflation Reduction Act (IRA). One of the key…
Internal Revenue Service Alerts (IRS)
Low Income Housing Tax Credit Program Extensions
AAFCPAs would like to make clients aware that on January 11, 2022 the IRS issued Notice 2022-05 which further extends the temporary relief from certain…
Matt McGinnis
Extensions for LIHTC Program
AAFCPAs would like to make clients aware on January 15, 2021, the IRS issued Notice 2021-12, which further extends the temporary relief from certain requirements…
CDCs & Affordable Housing
Year-End Bill Impacts Community & Economic Development Industry
AAFCPAs would like to make clients aware that the Consolidated Appropriations Act, 2021 (The Act), signed by the President on December 27th, contains several provisions…
Matt McGinnis
HUD Announces COVID-19 Supplemental Payments for Properties
AAFCPAs would like to make clients aware that the U.S. Department of Housing and Urban Development (HUD) recently announced (in Notice H 20-8) the availability…
