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Form 8874 B Rev December Notice of Recapture Event for New Markets Credit Irs

Form 8874 B Rev December Notice of Recapture Event for New Markets Credit Irs

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Instructions and help about Form 8874 B Rev December Notice Of Recapture Event For New Markets Credit Irs

let's discuss the new markets tax credit program or nm TC and how it attracts and meant for real estate projects community facilities and operating businesses new markets tax credits are federal income tax credits used to encourage private investment in low-income communities around the United States the credits are designed to create measurable community impacts such as job creation goods and services and eradicating food deserts the Community Development financial institutions fund or CDFI a division of the US Department of the Treasury administers the program and provides Authority for Community Development entities or CDEs to sell the tax credits CDEs have a mission to provide investment capital to low-income communities are certified by the CDFI fund and are typically sponsored by banks state or local governments and other nonprofit or for-profit organizations through a competitive application process CDEs are awarded an allocation of federal new markets tax credits once a

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