Tax Credits after Historic Boardwalk Hall

Qualifying, Applying for and Using Historic and Other Tax Credits to Structure Real Estate Projects

Recording of a 90-minute CLE webinar with Q&A


Conducted on Tuesday, February 12, 2013

Recorded event now available

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Program Materials

This CLE webinar will explain the impact of Historic Boardwalk Hall on tax credits and related financing structures. The panel will address the requirements for using tax credits as a financing vehicle in the future and ways to rework existing agreements to withstand IRS scrutiny.

Description

The recent Historic Boardwalk Hall L.L.C. v. Commissioner of Internal Revenue case reflects increased IRS scrutiny regarding the use of federal tax credits to finance real estate projects. The case has significant consequences for deals financed with historic tax credits.

The fallout of the case, however, extends to other tax credits used as creative sources of financing in community and economic revitalization.

New deals using tax credits and other tax incentives must now be negotiated with Historic Boardwalk Hall in mind, and existing transactions may have to be revised since challenges to the use of tax credits by the IRS are now on the rise.

Counsel must be aware of the far reaching impact of Historic Boardwalk Hall beyond historic tax credits, both when negotiating new transactions and when evaluating existing deals to ensure future compliance.

Listen as our authoritative panel provides an overview of Historic Boardwalk Hall, discusses historic tax credits and the related financing structures and requirements for using tax credits as a financing vehicle in the future, and explains how existing agreements can be reworked to withstand IRS scrutiny.

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Outline

  1. Overview of Historic Boardwalk Hall v. Commissioner of Internal Revenue
  2. Consequences for historic tax credits
  3. Other affected tax credits and deductions
  4. Best practices for using tax credits in new transactions and restructuring existing deals

Benefits

The panel will review these and other key questions:

  • What is the impact of Historic Boardwalk Hall on historic tax credits?
  • What is the effect of Historic Boardwalk Hall on other tax credits and deductions?
  • How can existing deals be restructured to comply with the Historic Boardwalk Hall decision?
  • How can tax credits effectively be used in new transactions?

Following the speaker presentations, you'll have an opportunity to get answers to your specific questions during the interactive Q&A.

Faculty

Anthony Ilardi, Jr.
Anthony Ilardi, Jr.

Member
Dykema

Mr. Ilardi is in the Taxation Practice Group, and concentrates on counseling developers, lenders, investors and...  |  Read More

Peter J. Berrie
Peter J. Berrie

Partner
Faegre Baker Daniels

Mr. Berrie's practice focuses on tax credits, particularly historic tax credits and new markets tax credits, as...  |  Read More

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