This Notice provides relief to taxpayers affected by the coronavirus pandemic. Among other things, the notice automatically extends several Housing Credit and tax-exempt bond deadlines referenced in IRS Revenue Procedure 2018-58. The notice also extends the 180-day deadline to invest capital gains in a Qualified Opportunity Fund to July 15 for taxpayers with a deadline […]
Read More… from IRS Notice 2020-23: Taxpayer Relief for COVID-19
On April 8, the IRS released Revenue Procedure 2020-23, providing guidance on filing amended partnership tax returns to take advantage of the bonus depreciation changes in the Coronavirus Aid, Relief, and Economic Security (CARES) Act, as well as other tax incentives. View Document […]
Read More… from IRS Releases Guidance on Filing Amended Partnership Tax Returns
On March 23, 2020, NCSHA sent a letter calling on the Internal Revenue Service and U.S. Department of the Treasury to take immediate steps to ease Housing Credit deadlines and provide other needed program accommodations due to social distancing during the COVID-19 pandemic. Here are three letters supporting NCSHA’s call to action. LeadingAge | April […]
On April 8, NCSHA sent a letter to the Office of the Comptroller of the Currency (OCC) and the Federal Deposit Insurance Corporation (FDIC) in response to their joint January 9 Advanced Notice of Proposed Rulemaking and Request for Comments on proposed amendments to Community Reinvestment Act regulations. This letter raises several concerns with the […]
Read More… from NCSHA Comments on OCC and FDIC Joint CRA Advanced Notice of Proposed Rulemaking
This memorandum includes the CARES Act Flexibilities for CDBG Funds Used to Support Coronavirus Response Guide, which describes the waivers and alternative requirements HUD is providing for supplemental Community Development Block Grants (CDBG-CV) made available under the CARES Act and the extent to which these waivers apply to regularly appropriated CDBG funding. View Document […]
Read More… from HUD COVID-19 Guidance Providing Waivers for CDBG CARES Act Supplemental Funding
On April 7, NCSHA sent this letter to Senate Majority Leader Mitch McConnell (R-KY), House Speaker Nancy Pelosi (D-CA), Senate Minority Leader Chuck Schumer (D-NY), and House Minority Leader Kevin McCarthy (R-CA) outlining the steps Congress should take following passage of the Coronavirus Aid, Relief, and Economic Security (CARES) Act to support affordable housing efforts. […]
Source: JLC Online About: Currently, millions of Americans are required to stay at home to prevent the spread of the novel coronavirus that causes COVID-19. To ensure the safety and prosperity of their communities, governors and other authorities are allowing “essential” businesses to stay open. This dashboard, provided by JLC Online, tracks how states with […]
Read More… from Coronavirus Construction Limits: State-By-State Tracker
On April 3, NCSHA joined the Mortgage Bankers Association and other major national organizations in a statement urging the Treasury Department, the Federal Reserve, and FHFA to provide liquidity to mortgage servicers needing additional capacity to support homeowners and renters impacted by the coronavirus and eligible for government forbearance programs. The statement also expresses appreciation […]
Read More… from NCSHA Joins Mortgage Industry Groups in Statement on Liquidity
This video, available on the CFPB website along with additional consumer-focused resources, outlines important details about mortgage forbearance, which can help consumers get back on their feet during short-term financial difficulty. Watch on CFPB […]
Read More… from CARES Act Mortgage Forbearance: What You Need to Know
