Source: https://www.calt.iastate.edu/blogpost/future-tax-extender-legislation-uncertain
Timestamp: 2019-05-25 07:24:47
Document Index: 671477228

Matched Legal Cases: ['§ 108', '§ 163', '§ 222', '§ 25', '§ 30', '§ 30', '§ 30', '§40', '§ 40', '§ 45', '§ 45', '§ 168']

Future of Tax Extender Legislation Uncertain | Center for Agricultural Law and Taxation
Note: On February 28, Senators Grassley and Wyden introduced the "Tax Extender and Disaster Relief Act of 2019," which would revive expired and expiring tax extenders. We will be following this proposed legislation and keep you posted.
On February 15, 2019, President Trump signed the Consolidated Appropriations Act, 2019, into law. This new law averted a second government shutdown and funded the IRS through the end of September, 2019. The law did not include any provisions to retroactively revive and extend 26 temporary tax breaks that expired at the end of 2017. It is unclear whether such legislation may be addressed in the near future. In the meantime, taxpayers are filing 2018 returns without the benefit of the following tax provisions:
IRC § 108(a)(1)(E)(ii) discharge of qualified principal residence indebtedness exclusion from income
IRC § 163(h)(3)(E) provision allowing premiums paid or accrued for qualified mortgage insurance by a taxpayer in connection with acquisition indebtedness for a qualified residence to be treated as qualified residence interest.
IRC § 222 above-the-line deduction for qualified tuition and related expenses
IRC § 25C credit for nonbusiness energy property
IRC § 30B credit for new qualified fuel cell motor vehicles
IRC § 30C credit for alternative fuel vehicle refueling property
IRC § 30D credit for 2-wheeled plug-in electric vehicles
IRC §40 second generation biofuel producer credit
IRC § 40A biodiesel and renewable diesel incentives
IRC § 45(d) credits with respect to the following:
Geothermal energy facilities
IRC § 45L credit for energy-efficient new homes
IRC § 168(l) special depreciation allowance for qualified second generation biofuel plant property
For a complete list of expired tax provisions, see this report.