Last December, President Obama signed the Protecting Americans from Tax Hikes (PATH) Act of 2015 into law. The new law contains several tax beneﬁts for individuals and companies.
What’s more, PATH was not a simple “extenders” act, continuing certain tax breaks for a year or two. On the contrary, PATH converted many tax code provisions from temporary to permanent, retroactive to the beginning of 2015. Therefore, you can have much more conﬁdence in future tax plans regarding these provisions. (Other tax code provisions that had expired, or were scheduled to expire, were extended for two or ﬁve years, retroactive to 2015.)
This issue of the CPA Client Bulletin covers some of the main tax rules that have been aﬀected. If you have questions about these and other tax code items that were set to expire in 2015 or later years, contact our oﬃce for details.