House to Pass Tax Extenders
December 4, 2014The House is set to consider HR 5771, the Tax Increase Prevention Act today. The measure would retroactively extend more than 50 expired tax breaks for one year. It would renew the individual deduction for state and local sales taxes and the equalization of tax-free benefits for transit and parking, the business research and development tax credit, bonus depreciation and other expensing rules along with the work opportunity tax credit. Most of the renewed tax extenders, notably the R&D and tuition tax credits,…