Two federal tax incentive programs (Public Law 99-514) currently apply to preservation activities: the Rehabilitation Investment Tax Credit (RITC) program, and the charitable contribution deduction. 

The Historic Preservation Division's (HPD) Federal Tax Incentive Programs fact sheet describes in brief the Rehabilitation Investment Tax Credit (RITC) program and the charitable contribution deduction.

The Federal Rehabilitation Investment Tax Credit Program (RITC) provides owners of "certified historic structures" the opportunity to apply for a federal income tax credit equal to 20% of the rehabilitation cost. Only income-producing properties are eligible to participate in the program and the National Park Service must certify the rehabilitation in order to receive the credit.

A one-time charitable contribution deduction may be taken for the donation of a preservation easement to an organization qualified by IRS Code Section 170. This easement ensures the preservation of a "certified historic structure's" facade by restricting the right to alter its appearance. The donation of a preservation easement is usually made in perpetuity. Both residential and commercial properties are eligible for this program. Qualified professionals should be consulted on the matters of easement valuations and the tax consequences of their donation.

Instructions and Certification Application - http://www.nps.gov/history/hps/tps/tax/hpcappl.htm
The Federal Application and Instructions manual is the key tool needed to apply for the rehabilitation investment tax credit. This link provides access to downloadable forms provided by the National Park Service.

Send all completed applications and supplemental information to:
Historic Preservation Division
Georgia Department of Natural Resources
Attn: Tax Incentives Coordinator
254 Washington Street, SW
Ground Level
Atlanta, GA  30334

Resources

Heritage Preservation Services (HPS) - http://www.nps.gov/history/hps/tps/tax/index.htm
HPS is the division of the National Park Service that reviews all Federal Rehabilitation historic preservation tax credit applications. The HPS Web site provides all the information one may need to apply for and learn about the program regulations and guidelines; including access to the certification application, links to the IRS for tax related information, the Secretary of Interior's Standards, and the Preservation Briefs.

Secretary of the Interior's Standards for Rehabilitation -
http://www.cr.nps.gov/hps/tps/tax/rehabstandards.htm
The Secretary of Interior's Standards for Rehabilitation are the guiding principles used to evaluate rehabilitation projects submitted to HPD and the NPS for review and certification.  The National Park Service's website provides a web-based version with illustrated guidance.  Or, download the non-illustrated, easy-to-print version - pdf.

Preservation Briefs - http://www.cr.nps.gov/hps/tps/briefs/presbhom.htm
The National Park Service has developed a series of publications that address specific rehabilitation issues and the proper rehabilitation methods that should be applied.

TPS Online Education -http://www.nps.gov/history/hps/tps/online_ed.htm This site includes Walk Through Historic Buildings, the Rehab Yes/No Learning Program, Incentives! A Guide to the Historic Preservation Tax Incentives Program, A Checklist for Rehabilitating Historic Buildings, and other helpful web articles.

IRS Information - http://www.nps.gov/history/hps/tps/tax/IRS.htm
Want to know how the Federal historic tax credit program will affect your taxes? Click here to learn more about the rules and regulations promulgated by the IRS. This includes information on how these credits affect minimum income tax requirements and passive income.

Podcast- Listen to HPD's tax incentives coordinator Ced Dolder's interview with Jordan Poole of The Georgia Trust.  Ced explains the basics of how the tax incentives programs work and gives advice on how to have a successful project.  March 2009, approx. 25 minutes.

Photo Documentation of Historic Properties - Learn the proper techniques and guidelines for taking photographs of historic buildings for the tax incentive programs.