The federal historic tax credit (HTC) has led to more than $181 billion in investment over its 40 years, including $7.3 billion in investment in 2020. However, using the incentive to help fund the renovation of historic properties can be difficult to understand. In this week's Tax Credit Tuesday podcast, Michael Novogradac, CPA, and Novogradac partner Gregory Clements, CPA, examine the basics of the HTC incentive. They discuss how the tax credit is used, what makes a building historic and how to determine whether a rehabilitation will be eligible for HTCs. They then explain details of working with state and federal governmental agencies, how the National Parks Service application system works, who should be on your HTC team and the different transaction structures. They wrap up with a look at services that assist those involved in HTC transactions.