Do I need to hire an independent third party, such as a certified public accountant (CPA) or a tax attorney, when submitting an application?
As with the case in the previous question, concerning the need for commissioning the assistance of a consultant, it is not believed that the potential applicant must hire a CPA or tax attorney in preparing the application. However, the services of a CPA or tax attorney may be required in the determination as to the requirements of the Code and their relationship to the real estate transaction in question. The use of a CPA will be required at the time of carryover allocation and placement into service, primarily for the purpose of providing NIFA with certain required certifications and audits.
Related Questions
- When are applicants and licensees required to pay the annual assessments for certified public accountant (CPA) and Attorney General (AG) costs incurred by the Division?
- Should an Attorney Be Allowed to Simultaneously Represent a Party and an Independent Fact Witness Deponent?
- Why should I hire Omni Financial for tax relief instead of using a local CPA or attorney?
