Tax Increase Prevention Act of 2014 Becomes Law PDF Print E-mail
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Wednesday, 17 December 2014 13:41

Bill retroactively extends more than 50 expired tax provisions through 2014.

 

tax boggle

 

 

 

 

Among the highlights of the bill:  The research and development (R&D) credit, first-year bonus depreciation, and the increased Sec. 179 expensing limites are all extended.

The bill, H.R. 5771, known as the Tax Increase Prevention Action of 2014, temporarily extends a host of expired individual, business, and energy tax breaks, as well as certain provision relating to mutiemployer defined benefit plans.  The bill also makes some technical corrections to prior legislation.

 

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 Nevius, Alistai M. (2014, December 16) Congress passes tax extender legislation,  Retrieved from http://www.journalofaccountancy.com