• TRS CPA

TAX SUMMARY DEC 2014

Please check out this Special Report from December 16, 2014. Tax Increase Prevention Act of 2014 / ABLE Act/Omnibus Funding Agreement. Find out recent news and events and how these code changes and extenders will impact your tax situation.

Highlights

  • Over 50 Extenders

  • More Than 500 Code Changes

  • State and Local Sales Tax Deductions Extended

  • Mortgage Debt Forgiveness Exclusion Extended

  • 50% Bonus Depreciation Extended

  • Research Tax Credit Available for 2014

  • Many Energy Incentives Renewed

  • Tax-Favored Accounts for Individuals with Disabilities

  • Inflation-Adjustments for Civil Penalties

  • FY 2015 Budget Cut for IRS

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