CLIENT ALERT: Tax Extenders Legislation Signed Into Law
We are pleased to inform you that the “Protecting Americans from Tax Hikes Act of 2015” was signed into law by President Obama late last week, as part of H.R. 2029 – the “Consolidated Appropriations Act, 2016.”
The new law makes several tax provisions permanent, including:
- R&D Tax Credit
- Increased Section 179 deductions for business expenses
- Enhanced Child Tax Credit
Other provisions, including bonus depreciation, were extended temporarily by the legislation.
Read the full House Resolution by clicking here. (Tax Act begins on page 799, Division Q)
This legislation will provide valuable tax benefits to individual and business taxpayers. If you have questions about how H.R. 2029 will affect you, please contact your Whalen & Company representative.
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