New Markets Tax Credits (NMTC)

Reznick Group has been active in the NMTC Program since its inception in December 2000. Throughout the development phase of the program, we worked closely with key participants, including the U.S. Treasury’s Community Development Financial Institution (CDFI) Fund, the IRS, the NMTC Coalition, community development entities (CDEs) and others. As a result, we have become recognized leaders in providing assurance, tax, transactional and consulting services for the New Markets Tax Credit program.

Because of our national reputation in various tax credit industries and on tax policy matters, we are ahead of the curve in understanding the complexities of the new markets tax credit program, financing, investor issues, market concerns and programmatic and income tax regulations.

Services

• Assist in establishing the framework for CDEs and submission of CDE Certification Applications
• Assist in developing strategic business plans for CDEs and submission of NMTC Allocation Applications
• Assist in developing investment/loan underwriting and compliance programs tied to a CDEs Allocation Agreement
• Perform turn-key outsourced NMTC compliance services on behalf of CDEs
• Design of CDE accounting systems and procedures
• Assist NMTC borrowers develop action plans and project/business summary packages to ascertain NMTC capital.
• Prepare Agreed Upon Procedures Compliance Reports on behalf of CDEs and Investors.
• Perform CDE and NMTC Investment Fund audits and prepare associated tax returns.
• Perform financial modeling for NMTC transactions and underlying businesses
• Assist in collecting community impact data and perform associated CDFI Fund CIIS Electronic Filings on behalf of CDEs.
• Perform independent compliance program reviews.
• Perform onsite NMTC training programs