Selected Recently Expired Business Tax Provisions (“Tax Extenders”) (CRS Report for Congress)
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| Release Date |
Revised Jan. 7, 2016 |
| Report Number |
R43510 |
| Report Type |
Report |
| Authors |
Jane G. Gravelle, Senior Specialist in Economic Policy; Donald J. Marples, Specialist in Public Finance; Molly F. Sherlock, Coordinator of Division Research and Specialist |
| Source Agency |
Congressional Research Service |
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Summary:
The Consolidated Appropriations Act of 2016 (P.L. 114-113), signed into law on December 18, 2015, made permanent, extended through 2019, or extended through 2016 some tax provisions that had expired at the end of 2014. Previous legislation had extended these provisions for a year (or in some cases two years) at a time. Several bills had been considered in the 114th Congress to make some provisions permanent, including the R&E tax credit (H.R. 880), expensing of investments (H.R. 636, S. 1399), and treatment of built-in gains for Subchapter S corporations (H.R. 636). The Senate Finance Committee had earlier reported legislation, the Tax Relief Extension Act of 2015 (S. 1946), that would retroactively extend expired tax provisions, for two years, through 2016.
This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2014. The list below indicates whether a provision was made permanent or extended through either 2016 or 2019.
