Near the end of last year (December 2015), as PR News Wire notes, Congress passed and President Obama signed into law the Protecting Americans from Tax Hikes (PATH) Act, a broader bipartisan tax bill that extended (and in certain instances, made permanent) over 50 expiring provisions of the tax code.
A number of pro-business provisions, including the following examples, fall within the PATH Act’s legislation:
Note that the following examples of tax provisions are extended by the PATH Act. But not all extensions in the PATH Act are permanent:
As noted in the beginning of this article, the PATH Act extended (and in certain instances, made permanent) over 50 expiring provisions of the tax code. This foregoing write-up does not intend to address all 50+ provisions, but it is intended to provide a high level discussion of some of the extended provisions. There are additional affected provisions of the Act not included in the scope of this discussion.
Do you have the support you need to manage your small business bookkeeping?
Contact us to schedule an appointment to speak with a local small business advisor.
Contact Us
Contact Us