Today we will discuss the status of the annual tax extenders bill. Once again, Congress needs to pass legislation to extend over 50 different items that expired at the end of 2014.
Unless Congress acts, taxpayers will be unable to use these provisions on their 2015 returns. Historically, they have extended these items for one or two years at a time. They are trying to make some of the provisions permanent, but have not had any success yet.
The Senate plans to adjourn for Christmas break on December 11th and the House a week later on the 18th.
We will be watching this closely and will issue a special edition as soon as something passes that the President is willing to sign.
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