Discussions on the Extension of the 179D Deduction Continue
The outcome of expired energy tax provisions remains unknown as the House plans to go on a six-week hiatus, beginning Friday, July 26th. Meetings are being held this week in preparation for the break, and include a vote on the Spending and Debt Deal (H.R. 3877), which was expected to include the tax extenders, but does not.
According to Politico, Sen. Rob Portman (R-Ohio) said he hopes the Senate Finance Committee will mark up a bill for the extenders when Congress returns from the hiatus.
Your Trusted Tax Advisors
National Tax Group has been monitoring the status of these significant tax provisions since plans to renew and extend them were first introduced. We are experts in these specialty areas of the tax code and are prepared to help all taxpayers obtain them once they are able to again. Contact one of our team members to learn about the expired tax provisions and the benefits they will bring you.