On December 19, 2014, President Obama signed into law the Tax Increase Prevention Act of 2014. This bill reestablishes most of the major tax provisions (i.e. depreciation) and “extender” provisions which expired at the end of 2013.
To help you better understand the major provisions passed, we have compiled a short outline. Please click here for the complete summary.
If you have any questions regarding these provisions or their impact on your specific situation, please do not hesitate to contact us.