President signed extender bill (12-18-15)

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President signed extender bill (12-18-15)

The President has signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act).
Below is more information on the Act’s provisions.

Made permanent:

  • Enhanced Child Tax Credit
  • Enhanced American Opportunity Tax Credit
  • Enhanced Earned Income Tax Credit
  • Above-the-line educator deduction
  • Sales tax deduction
  • Enhanced mass transit and parking pass benefits
  • IRA-to-charity — California automatically conforms
  • R&D credit
  • IRC §179 — enhanced
  • Enhanced exclusion of gain on sale of small business stock
  • Built-in gains holding period

Extended through 2016:

  • Qualified tuition deduction
  • Nonbusiness Energy Property Credit
  • COD principal residence exclusion
  • Mortgage insurance premium deductible as interest

Extended through 2019:

  • Bonus depreciation — phases out
  • First year bonus depreciation on automobiles — enhanced
  • Work Opportunity Tax Credit
By | 2016-01-21T00:00:26+00:00 December 19th, 2015|Categories: Uncategorized|Comments Off on President signed extender bill (12-18-15)