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Reznick Group Published in New York State Association for Affordable Housing Winter Newsletter

Dan King, a senior manager with Reznick Group's Baltimore office, discusses the New Markets Tax Credit program and recent passive activity rules in the New York State Association for Affordable Housing Winter 2011 Newsletter.

The passive activity rules apply to individuals, estates, trusts, closely held C corporations and personal service corporations. Prior to the Internal Revenue Service’s (IRS) issuing Revenue Ruling 2010-16, it was unclear as to whether the New Markets Tax Credit program was a passive activity credit.