Tag Archives: tax provisions

10 Tax Breaks Reauthorized for Tax Year 2014

Tax breaksIn late December Congress finally took action, passing the tax extender bill, officially known as the Tax Increase Prevention Act of 2014 (H.R. 5771), which was signed into law by President Obama.

The good news is that these tax provisions are retroactive to January 1, 2014. The bad news is that they expired on December 31, 2014. Even so, you might be able to take advantage of them when you file your 2014 tax return. Let’s take a look at some of the tax provisions most likely to affect taxpayers when filing their 2014 tax returns.
Continue reading