IRS Rules Stoke Hopes Of Historic Tax Credit Revival

Law360, New York (January 24, 2014, 4:36 PM EST) -- New Internal Revenue Service guidelines that clear up questions over financing for development projects utilizing historic building tax credits will likely herald a new wave of investment in an industry that has been reeling from a year-old appeals court decision that dried up the market, experts say.

The source of the renewed optimism is an IRS directive issued last month that establishes rules for how transactions utilizing the historic building tax credit should be structured. While some gray area remains, attorneys say the framework should lift...
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