Expired Tax Provisions: No Relief in Sight?

by Sally P. Schreiber, J.D. | Oct 28, 2015   ()

n recent years, taxpayers have been faced with great uncertainty determining whether they can depend on tax incentives to help them lower their taxes. Shortly after the year began in 2013, Congress resolved the budget impasse that had threatened to shut down the government by passing the American Taxpayer Relief Act of 2012, P.L. 112-240. That legislation extended 51 provisions for two years retroactively through the beginning of 2012 and through 2013.

Last year, in December, Congress extended most of these provisions for one year retroactively to the beginning of 2014, but not going forward, so they expired again at the end of 2014 (Tax Increase Prevention Act of 2014, P.L. 113-295).

Source: Tax Insider
Source: Tax Insider

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