Big package under the tree?
Word from Washington is that a giant tax package is being put together and may well be passed through both chambers before Congress leaves for Christmas break on December 11.
The big news, as far as we’re concerned, is that the proposed deal would make the tax incentives called “tax extenders” permanent — including the Section 179D deduction for energy-efficient building design.
After several years of last-minute, one-year extensions — which Oregon Democratic Senator Ron Wyden described as “passing tax laws to provide incentives… for behavior that already took place” — this package would remove uncertainty of taxpayers who’ve earned the §179D deduction.
To read more about the politics behind the package, read Politico’s account here.
For more information on tax extenders in general, and legislative updates relating to the 179D deduction in particular, contact Concord today. For immediate assistance contact Managing Member Dennis J. Stilger, Jr. at dennis@concordlp.com or 888-897-5445.
