Last December, President Obama signed the Protecting Americans from Tax Hikes (PATH) Act of 2015 into law. The new law has several tax benefits for individuals and for companies.
In addition, PATH was not a simple ‘extenders’ act, continuing certain tax breaks for a year or two. PATH actually converted many tax code provisions from temporary to permanent, retroactive to the beginning of 2015. Therefore, you can have much more confidence in future tax plans regarding these provisions. (Other tax code provisions that had expired, or were scheduled to expire, were extended for two or five years, retroactive to 2015.)
If you have questions about these and other tax code items that were set to expire in 2015 or later years, contact our office for details.