Spring 2014 issue of Horizons

The HTC industry welcomed Revenue Procedure 2014-12 and is very optimistic about the guidance and we expect it will restore equity investments in HTC transactions again. Undoubtedly, there will be many questions that arise as developers, investors and their tax credit advisors begin to implement the terms of the safe harbor to specific transactions and projects. However, the IRS has been very responsive to the industry in addressing questions and further clarification. Based on the timeliness and attention the IRS gave the industry last year, we are optimistic about the future of HTC transactions post- Boardwalk. Much praise is due to the Historic Tax Credit Coalition which led an industry-wide effort comprised of developers, investors, community development officials, attorneys and CPAs. This group worked closely with the IRS and Treasury officials which led to this significant guidance being released less than a year after the 3rd Circuit decision in Historic Boardwalk.

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Bryan Keller, CPA Partner-In-Charge Real Estate Services Group 314.290.3341 bryan.keller@rubinbrown.com

Jeff Cunningham, CPA — Denver Partner Real Estate Services Group 303.952.1257 jeffrey.cunningham@rubinbrown.com

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