The IRS just released an alert saying that individual returns would start processed January 20, 2015 and business returns would start processing January 9, 2015.
Tax extenders have been passed by both the House and the Senate. Just waiting Presidential signature. This bill extends the laws that expired 12/31/2013 through 12/31/2014. Highlights of the business tax extenders - 15 yr depreciation for leasehold improvements and 50% bonus depreciation for assets placed in service in 2014.
Tax extenders have been passed by both the House and the Senate. Just waiting Presidential signature. This bill extends the laws that expired 12/31/2013 through 12/31/2014. Highlights of the individual tax extenders - state sales tax deduction, educators expense deduction, exclusion of cancellation of debt on personal residence, mortgage insurance premiums as a deduction and qualified charitable contribution distributions.
