Reminder - Expiration of tax “extenders” 

January 2:  Some 57 tax credits, deductions, and other incentive provisions—the “extenders”—expired on December 31, 2013.

Legislation (S. 1859) to extend these provisions was introduced in the Senate in December, but Congress failed to act on it before adjourning in 2013. It is unclear when Congress will address the expired provisions in 2014.

Among the 57 provisions (previously identified in a JCT report, List of Expiring Federal Tax Provisions 2013-2023, JCX-3-13 (January 11, 2013)) that expired at the end of 2013 are the following items:

  • The research and experimentation tax credit
  • Exemptions under subpart F for active financing income
  • Look-through treatment of payments between related controlled foreign corporations (CFCs) under the foreign personal holding company rules
  • 15-year straight line depreciation for qualified leasehold, retail, and restaurant improvements
  • Additional first-year “50% bonus” depreciation
  • Increased expensing of property under section 179
  • A variety of energy-related provisions and biofuel incentives
  • The work opportunity tax credit
  • Parity of tax treatment of employer-provided parking and mass transit benefits
  • Deduction for state and local sales taxes

Read JCX-3-13 [PDF 59 KB]

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