Source: http://tax-fishing-and-other.blogspot.com/2015/12/protecting-americans-from-tax-hikes-act.html
Timestamp: 2017-06-25 01:57:57
Document Index: 253812223

Matched Legal Cases: ['ART 1', 'ART 2', 'ART 3', 'ART 4', 'ART 2', 'ART 3', 'ART 1', 'ART 2', 'ART 3']

Tax, Fishing, and Other Ramblings: Protecting Americans from Tax Hikes Act of 2015
On the evening of December 15, 2015, the House released the text of the Protecting Americans from Tax Hikes Act of 2015 (Division Q of House amendment #2 to the Senate amendment to H.R. 2029, Military Construction and Veterans Affairs and Related Agencies Appropriations Act, 2016). Nickname is the PATH Act.
The Act is expected to be put up for a vote as early as Thursday, December 17. The 233-page full text can be found at http://waysandmeans.house.gov/wp-content/uploads/2015/12/PATH_Act_xml.pdf (pdf) and http://docs.house.gov/billsthisweek/20151214/R121515.006.xml (text) and a 20-page section-by-section summary can be found on the Ways and Means Committee's website at https://rules.house.gov/sites/republicans.rules.house.gov/files/114/PDF/114-SAHR2029Ex-SxS.pdf.
I recommend reviewing the Ways and Means summary, but the outline is as follows. Further review to come...
DIVISION Q—PROTECTING AMERICANS FROM TAX HIKES ACT OF 2015
TITLE I—EXTENDERS
Subtitle A—Permanent extensions
PART 1—TAX RELIEF FOR FAMILIES AND INDIVIDUALS
Sec. 101. Enhanced child tax credit made permanent.
Sec. 102. Enhanced American opportunity tax credit made permanent.
Sec. 103. Enhanced earned income tax credit made permanent.
Sec. 104. Extension and modification of deduction for certain expenses
of elementary and secondary school teachers.
Sec. 105. Extension of parity for exclusion from income for
employer-provided mass transit and parking benefits.
Sec. 106. Extension of deduction of State and local general sales
PART 2—INCENTIVES FOR CHARITABLE GIVING
Sec. 111. Extension and modification of special rule for contributions
of capital gain real property made for conservation purposes.
Sec. 112. Extension of tax-free distributions from individual
retirement plans for charitable purposes.
Sec. 113. Extension and modification of charitable deduction for
contributions of food inventory.
Sec. 114. Extension of modification of tax treatment of certain
payments to controlling exempt organizations.
Sec. 115. Extension of basis adjustment to stock of S corporations
making charitable contributions of property.
PART 3—INCENTIVES FOR GROWTH, JOBS, INVESTMENT, AND INNOVATION
Sec. 121. Extension and modification of research credit.
Sec. 122. Extension and modification of employer wage credit for
employees who are active duty members of the uniformed services.
Sec. 123. Extension of 15-year straight-line cost recovery for
qualified leasehold improvements, qualified restaurant buildings and
improvements, and qualified retail improvements.
Sec. 124. Extension and modification of increased expensing limitations
and treatment of certain real property as section 179 property.
Sec. 125. Extension of treatment of certain dividends of regulated
Sec. 126. Extension of exclusion of 100 percent of gain on certain
small business stock.
Sec. 127. Extension of reduction in S-corporation recognition period
for built-in gains tax.
Sec. 128. Extension of subpart F exception for active financing income.
PART 4—INCENTIVES FOR REAL ESTATE INVESTMENT
Sec. 131. Extension of minimum low-income housing tax credit rate for
non-Federally subsidized buildings.
Sec. 132. Extension of military housing allowance exclusion for
determining whether a tenant in certain counties is low-income.
Sec. 133. Extension of RIC qualified investment entity treatment under
FIRPTA.
Subtitle B—Extensions through 2019
Sec. 141. Extension of new markets tax credit.
Sec. 142. Extension and modification of work opportunity tax credit.
Sec. 143. Extension and modification of bonus depreciation.
Sec. 144. Extension of look-thru treatment of payments between related
controlled foreign corporations under foreign personal holding company rules.
Subtitle C—Extensions through 2016
Sec. 151. Extension and modification of exclusion from gross income of
discharge of qualified principal residence indebtedness.
Sec. 152. Extension of mortgage insurance premiums treated as qualified
residence interest.
Sec. 153. Extension of above-the-line deduction for qualified tuition
PART 2—INCENTIVES FOR GROWTH, JOBS, INVESTMENT, AND INNOVATION
Sec. 161. Extension of Indian employment tax credit.
Sec. 162. Extension and modification of railroad track maintenance
Sec. 163. Extension of mine rescue team training credit.
Sec. 164. Extension of qualified zone academy bonds.
Sec. 165. Extension of classification of certain race horses as 3-year
Sec. 166. Extension of 7-year recovery period for motorsports
entertainment complexes.
Sec. 167. Extension and modification of accelerated depreciation for
business property on an Indian reservation.
Sec. 168. Extension of election to expense mine safety equipment.
Sec. 169. Extension of special expensing rules for certain film and
television productions; special expensing for live theatrical productions.
Sec. 170. Extension of deduction allowable with respect to income
attributable to domestic production activities in Puerto Rico.
Sec. 171. Extension and modification of empowerment zone tax incentives.
Sec. 172. Extension of temporary increase in limit on cover over of rum
excise taxes to Puerto Rico and the Virgin Islands.
Sec. 173. Extension of American Samoa economic development credit.
Sec. 174. Moratorium on medical device excise tax.
PART 3—INCENTIVES FOR ENERGY PRODUCTION AND CONSERVATION
Sec. 181. Extension and modification of credit for nonbusiness energy
Sec. 182. Extension of credit for alternative fuel vehicle refueling
Sec. 183. Extension of credit for 2-wheeled plug-in electric vehicles.
Sec. 184. Extension of second generation biofuel producer credit.
Sec. 185. Extension of biodiesel and renewable diesel incentives.
Sec. 186. Extension and modification of production credit for Indian
coal facilities.
Sec. 187. Extension of credits with respect to facilities producing
energy from certain renewable resources.
Sec. 188. Extension of credit for energy-efficient new homes.
Sec. 189. Extension of special allowance for second generation biofuel
plant property.
Sec. 190. Extension of energy efficient commercial buildings deduction.
Sec. 191. Extension of special rule for sales or dispositions to
implement FERC or State electric restructuring policy for qualified electric
Sec. 192. Extension of excise tax credits relating to alternative
Sec. 193. Extension of credit for new qualified fuel cell motor
Sec. 201. Modification of filing dates of returns and statements
relating to employee wage information and nonemployee compensation to improve
Sec. 202. Safe harbor for de minimis errors on information returns and
payee statements.
Sec. 203. Requirements for the issuance of ITINs.
Sec. 204. Prevention of retroactive claims of earned income credit
after issuance of social security number.
Sec. 205. Prevention of retroactive claims of child tax credit.
Sec. 206. Prevention of retroactive claims of American opportunity tax
Sec. 207. Procedures to reduce improper claims.
Sec. 208. Restrictions on taxpayers who improperly claimed credits in
Sec. 209. Treatment of credits for purposes of certain penalties.
Sec. 210. Increase the penalty applicable to paid tax preparers who
engage in willful or reckless conduct.
Sec. 211. Employer identification number required for American
opportunity tax credit.
Sec. 212. Higher education information reporting only to include
qualified tuition and related expenses actually paid.
Subtitle A—Family tax relief
Sec. 301. Exclusion for amounts received under the Work Colleges
Sec. 302. Improvements to section 529 accounts.
Sec. 303. Elimination of residency requirement for qualified ABLE
Sec. 304. Exclusion for wrongfully incarcerated individuals.
Sec. 305. Clarification of special rule for certain governmental plans.
Sec. 306. Rollovers permitted from other retirement plans into simple
Sec. 307. Technical amendment relating to rollover of certain airline
payment amounts.
Sec. 308. Treatment of early retirement distributions for nuclear
materials couriers, United States Capitol Police, Supreme Court Police, and
diplomatic security special agents.
Sec. 309. Prevention of extension of tax collection period for members
of the Armed Forces who are hospitalized as a result of combat zone injuries.
Subtitle B—Real estate investment trusts
Sec. 311. Restriction on tax-free spinoffs involving REITs.
Sec. 312. Reduction in percentage limitation on assets of REIT which
may be taxable REIT subsidiaries.
Sec. 313. Prohibited transaction safe harbors.
Sec. 314. Repeal of preferential dividend rule for publicly offered
REITs.
Sec. 315. Authority for alternative remedies to address certain REIT
distribution failures.
Sec. 316. Limitations on designation of dividends by REITs.
Sec. 317. Debt instruments of publicly offered REITs and mortgages
treated as real estate assets.
Sec. 318. Asset and income test clarification regarding ancillary
Sec. 319. Hedging provisions.
Sec. 320. Modification of REIT earnings and profits calculation to
avoid duplicate taxation.
Sec. 321. Treatment of certain services provided by taxable REIT
Sec. 322. Exception from FIRPTA for certain stock of REITs.
Sec. 323. Exception for interests held by foreign retirement or pension
Sec. 324. Increase in rate of withholding of tax on dispositions of
United States real property interests.
Sec. 325. Interests in RICs and REITs not excluded from definition of
Sec. 326. Dividends derived from RICs and REITs ineligible for
deduction for United States source portion of dividends from certain foreign
Subtitle C—Additional provisions
Sec. 331. Deductibility of charitable contributions to agricultural
Sec. 332. Removal of bond requirements and extending filing periods for
certain taxpayers with limited excise tax liability.
Sec. 333. Modifications to alternative tax for certain small insurance
Sec. 334. Treatment of timber gains.
Sec. 335. Modification of definition of hard cider.
Sec. 336. Church plan clarification.
Subtitle D—Revenue Provisions
Sec. 341. Updated ASHRAE standards for energy efficient commercial
buildings deduction.
Sec. 342. Excise tax credit equivalency for liquified petroleum gas and
liquified natural gas.
Sec. 343. Exclusion from gross income of certain clean coal power
grants to non-corporate taxpayers.
Sec. 344. Clarification of valuation rule for early termination of
certain charitable remainder unitrusts.
Sec. 345. Prevention of transfer of certain losses from tax indifferent
Sec. 346. Treatment of certain persons as employers with respect to
motion picture projects.
TITLE IV—TAX ADMINISTRATION
Subtitle A—Internal Revenue Service reforms
Sec. 401. Duty to ensure that Internal Revenue Service employees are
familiar with and act in accord with certain taxpayer rights.
Sec. 402. IRS employees prohibited from using personal email accounts
for official business.
Sec. 403. Release of information regarding the status of certain
Sec. 404. Administrative appeal relating to adverse determinations of
tax-exempt status of certain organizations.
Sec. 405. Organizations required to notify Secretary of intent to
operate under 501(c)(4).
Sec. 406. Declaratory judgments for 501(c)(4) and other exempt
Sec. 407. Termination of employment of Internal Revenue Service
employees for taking official actions for political purposes.
Sec. 408. Gift tax not to apply to contributions to certain exempt
Sec. 409. Extend Internal Revenue Service authority to require
truncated Social Security numbers on Form W–2.
Sec. 410. Clarification of enrolled agent credentials.
Sec. 411. Partnership audit rules.
Subtitle B—United States Tax Court
PART 1—TAXPAYER ACCESS TO UNITED STATES TAX COURT
Sec. 421. Filing period for interest abatement cases.
Sec. 422. Small tax case election for interest abatement cases.
Sec. 423. Venue for appeal of spousal relief and collection cases.
Sec. 424. Suspension of running of period for filing petition of
spousal relief and collection cases.
Sec. 425. Application of Federal rules of evidence.
PART 2—UNITED STATES TAX COURT ADMINISTRATION
Sec. 431. Judicial conduct and disability procedures.
Sec. 432. Administration, judicial conference, and fees.
PART 3—CLARIFICATION RELATING TO UNITED STATES TAX COURT
Sec. 441. Clarification relating to United States Tax Court.
TITLE V—TRADE-RELATED PROVISIONS
Sec. 501. Modification of effective date of provisions relating to
tariff classification of recreational performance outerwear.
Sec. 502. Agreement by Asia-Pacific Economic Cooperation members to
reduce rates of duty on certain environmental goods.
TITLE VI—BUDGETARY EFFECTS
Sec. 601. Budgetary effects.