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Exception Tracking Spreadsheet (TicklerTrax™)
Downloaded by more than 1,000 bankers. Free Excel spreadsheet to help you track missing and expiring documents for credit and loans, deposits, trusts, and more. Visualize your exception data in interactive charts and graphs. Provided by bank technology vendor, AccuSystems. Download TicklerTrax for free.

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Tax relief for new markets tax credit transactions

Treasury and the IRS have announced tax relief for certain taxpayers affected by the COVID-19 pandemic who are involved in new markets tax credit transactions. The taxpayers receiving relief through the guidance are community development entities (CDEs) and qualified active low-income community businesses (QALICBs) investing and conducting businesses in low-income communities. Notice 2020-49 provides a CDE or QALICB with relief for certain specified time-sensitive acts that are due to be performed between AprilĀ 1, 2020, and DecemberĀ 31, 2020, in order to meet requirements under section 45D of the Internal Revenue Code and its regulations. A CDE or QALICB may perform these acts by DecemberĀ 31, 2020. The additional time is provided for:

  • Making investments
  • Reinvestments
  • Expending amounts for construction of real property

The IRS has a webpage with a compilation of Coronavirus Tax Relief for Businesses and Tax-Exempt Entities.

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