Tax Credits Financing
When your project is complete and you begin operations, you will be required to comply with a new set of requirements and guidelines that continue for several years beyond project completion. This period is called the compliance period and is important because failure to comply with the requirements may result in a “Recapture” event. Should a recapture event occur you would be required to pay back all the money you received in the tax credit financing.
Activities during this period are financial in nature including specific accounting and reporting procedures.
Some of these tasks are listed below:
- Continue to act as liaison with Investors and or CDE’s,
- Provide guidance on establishing protocols, and preparing entries,
- Provide guidance on all other accounting and finance issues related to the tax credit structure including reports, oversight and accounting entries,
- Help in preparing and reviewing the first-year audit under new entity structure,
- Provide information for transaction structure, entity relationship, roles, and document requirements, and timing for audits and tax returns.
Contact me to discuss!