On March 25, 2020, the Senate approved legislation known as the Coronavirus Aid, Relief, and Economic Security Act (the CARES Act or the Act), which is designed to provide financial assistance to individuals, businesses,...more
The New Markets Tax Credit (NMTC) Program is intended to facilitate flexible, long-term investments in businesses located in low-income communities. The attributes of the program are particularly helpful during situations...more
The COVID-19 outbreak could bring a number of significant financing considerations in syndicated Historic Tax Credit (HTC) transactions into focus as the economic impacts of the virus are felt by businesses....more
On Friday, Oct. 19, the Treasury Department released some much needed guidance concerning qualified opportunity zones (QOZs) under Section 1400Z of the Internal Revenue Code, which was added as part of last year’s Tax Cuts...more
On Dec. 22, 2017, President Donald Trump signed into law the Tax Cuts and Jobs Act (the “Act”), enacting broad reforms to the Internal Revenue Code. In previous BakerHostetler Alerts published Nov. 8 and Nov. 10, we outlined...more
On Nov. 9, 2017, the Joint Committee on Taxation released its “Description of the Chairman’s Mark of the Tax Cuts and Jobs Act” (the “JCT Description”). The JCT Description summarizes the initial draft of the Senate Finance...more
On Nov. 2, the House Ways and Means Committee released draft statutory text (the "Bill") of the proposed Tax Cuts and Jobs Act (the "Act"), the long-awaited Republican tax reform bill. On Friday, Nov. 3, Kevin Brady, Chairman...more
On April 24, 2013, the U.S. Department of the Treasury's Community Development Financial Institutions Fund (the CDFI Fund) announced the community development entities (CDEs) selected to receive the $3.5 billion in New...more
On January 2, 2013, President Barack Obama signed the American Taxpayer Relief Act of 2012 (H.R. 8) into law which, in addition to addressing other "fiscal cliff" issues, extends the New Markets Tax Credit ("NMTC") Program...more