Passed at the last minute by Congress, the Tax Increase Prevention Act of 2014 extends retroactively for one year (through 2014) a series of popular tax incentives that had expired at the end of 2013. Taxpayers will be able to claim these tax incentives on their 2014 tax returns, filed in 2015. Action to extend beyond 2014 or make permanent these tax incentives will fall to the next Congress.
Click here to read the full list.
Wishing you a Safe and Happy New Year,