Project Description

As of December 31, 2013, the following tax provisions expired (Congress could reinstate retroactively): research and experimentation credit, work opportunity credit, increased § 179 deduction limits and phase-out thresholds to $500,000 and $2 million, bonus depreciation, 15-year recovery period and § 179 eligibility for qualified leasehold, restaurant, and retail improvements, the exclusion from gross income for discharge of principal residence debt, tax-free distributions from IRAs for charitable purposes, and the credit for non-business energy property.