Broadcast
on $19 Billion for Renewal Community, Empowerment Zone, and Gulf
Zone Businesses
Beginning
February 27, 2006, HUD's Office of Community Renewal is offering
an important broadcast on approximately $19 Billion that is reserved
exclusively for businesses in Renewal Communities, Empowerment Zones,
and in the Gulf Opportunity Zone through special tax incentives.
This broadcast is very important for businesses and professional
tax preparers in these communities.
In this broadcast, recorded originally on February 27, 2006 and
made available for viewing anytime afterwards through the link below,
a panel of experts from IRS provide detailed information and answer
questions on Renewal Community, Empowerment Zone, and Gulf Opportunity
Zone tax incentives. These tax incentives include wage credits,
increased tax deductions, Commercial Revitalization Deductions,
low-interest loans through Enterprise Zone facility bonds, 0% tax
provisions on capital gains, bonus depreciation incentives, and
other incentives.
In
preparation for this broadcast, interested persons may want to read
the imporant background information below on the tax incentives
available to businesses in Renewal Communities, Empowerment Zones,
and the Gulf Opportunity Zone:
IRS
Publication 954
Tax Incentives for Distressed Communities, which provides information
on incentives for businesses in Renewal Communities, Empowerment
Zones, and other distressed communities.
Tax
Incentive Tips for Accountants and Businesses in Renewal Communities
Tax Incentive Tips for Accountants and Businesses in Empowerment
Zones
IRS
Publication 4492
Information for Taxpayers Affected by Hurricanes Katrina, Rita,
and Wilma.
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