As the new markets tax credit (NMTC) community concludes a busy period between the award of one round and the applications for another, some community development entities (CDEs) will turn their sights toward NMTC compliance reporting. In this week's podcast, Michael Novogradac, CPA, and Austin Power, CPA, provide an overview of NMTC compliance reporting, why it's valuable to the Community Development Financial Institutions (CDFI) Fund as well as what can happen to CDEs that fall out of compliance. Later, they discuss Power's four pieces of advice for CDEs to set themselves up for compliance reporting success, including being mindful of timeliness and taking advantage of interim certification.