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Guidance Released to Members on QLIP

October 24, 2016Category:

On September 9, 2016, the Historic Tax Credit Coalition released its guidance memorandum to members on Qualified Leasehold Improvement Property (QLIP) per Section 168 of the Internal Revenue Code.  In an effort to explain confusing language and discrepancies in the Code, the Historic Tax Credit Coalition submitted this guidance document on QLIP to all members.     Summary:… Read More » Read More

HTCC Submits Comments to IRS on 50(d) Income

October 19, 2016Category: /

Today,  the Historic Tax Credit Coalition submitted comments to the Internal Revenue Service on “Income Inclusion When Lessee Treated as Having Acquired Investment Credit Property.”  The Proposed Rule document issued by the IRS dealt specifically with 50(d) income. For your convenience, the request for comment on the Proposed Temporary Regulations under 50(d) may be found below. The Coalition’s… Read More » Read More

IRS Section 50(d) Regulations

July 25, 2016Category: /

On July 22, 2016 the Internal Revenue Service (IRS) published in the Federal Register a Temporary Regulation dealing with so-called Section 50(d) income generated by the Master Tenant legal structure.  The Regulation is called “Income Inclusion When Lessee Treated as Having Acquired Investment Credit Property” and can be found here. The Regulation does three things: 1.)… Read More » Read More

HTCC Asks IRS to Provide Guidance on Accounting Treatment for Section 50(d) Income

January 8, 2015Category:

The IRS has informally signaled to the Historic Tax Credit Coalition at recent conferences that it intends to rule on accounting treatment for the 50(d) income that results from the use of the Master Tenant legal structure. In order to shape this impending guidance, the Historic Tax Credit Coalition asked the IRS to place this issue on its FY15 Priority Guidance List… Read More

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Guidance Released to Members on QLIP

October 24, 2016Category:

On September 9, 2016, the Historic Tax Credit Coalition released its guidance memorandum to members on Qualified Leasehold Improvement Property (QLIP) per Section 168 of the Internal Revenue Code.  In an effort to explain confusing language and discrepancies in the Code, the Historic Tax Credit Coalition submitted this guidance document on QLIP to all members.     Summary:… Read More » Read More

HTCC Submits Comments to IRS on 50(d) Income

October 19, 2016Category: /

Today,  the Historic Tax Credit Coalition submitted comments to the Internal Revenue Service on “Income Inclusion When Lessee Treated as Having Acquired Investment Credit Property.”  The Proposed Rule document issued by the IRS dealt specifically with 50(d) income. For your convenience, the request for comment on the Proposed Temporary Regulations under 50(d) may be found below. The Coalition’s… Read More » Read More

IRS Section 50(d) Regulations

July 25, 2016Category: /

On July 22, 2016 the Internal Revenue Service (IRS) published in the Federal Register a Temporary Regulation dealing with so-called Section 50(d) income generated by the Master Tenant legal structure.  The Regulation is called “Income Inclusion When Lessee Treated as Having Acquired Investment Credit Property” and can be found here. The Regulation does three things: 1.)… Read More » Read More

HTCC Asks IRS to Provide Guidance on Accounting Treatment for Section 50(d) Income

January 8, 2015Category:

The IRS has informally signaled to the Historic Tax Credit Coalition at recent conferences that it intends to rule on accounting treatment for the 50(d) income that results from the use of the Master Tenant legal structure. In order to shape this impending guidance, the Historic Tax Credit Coalition asked the IRS to place this issue on its FY15 Priority Guidance List… Read More

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