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Congressional leaders and the Trump Administration have failed to reach an agreement on the emerging COVID-19 legislation. House and Senate leadership released congressional members to go home and campaign until after Labor Day.

To provide additional relief to taxpayers impacted by the pandemic, the IRS recently published a notice which extends the measuring period used in satisfying the substantial rehabilitation (“outlooksub rehab”) test requirement for historic tax credits.

Monday, July 27th, Senate Republicans released a proposed $1 trillion COVID-19 relief bill, with support from House Republican Leadership and the White House.

Take Action to support these infrastructure provisions in the Senate and share HTC projects impacted by the pandemic that would benefit from temporary HTC provisions in emerging COVID-19 relief legislation. July 1, 2020 The U.S. House of Representatives passed the Moving Forward Act (HR 2), a $1.

June 22, 2020 House Democrats unveiled the Moving Forward Act (HR 2), a $1.5 trillion infrastructure bill, which is anticipated to come to a vote before July 4th.

May 21, 2020 The IRS has recently released proposed regulations that clarify how to calculate and account for the federal Historic Tax Credit (HTC) when received over a five-year period. In 2017, the Tax Cuts and Jobs Act (TCJA) significantly changed several aspects of the HTC.

Members of Congress, both in Washington and from afar, are currently considering support for a future infrastructure stimulus bill to assist with long-term economic recovery. Most legislators agree there will be a significant economic recovery bill initiated by both chambers.

In March, federal lawmakers passed a record-breaking economic stabilization package of over $2 trillion to support businesses and communities affected by the COVID-19 pandemic.

March 2020: Last week, the National Park Service released the Federal Tax Incentives for Rehabilitating Historic Buildings Annual Report for Fiscal Year 2019.

February 2019: After a roller-coaster ride of negotiations, Congress passed a $1.4 trillion year-end budget bill, which the President signed into law in December 2019. The bill included several tax provisions in addition to appropriations.