The President is expected to sign the tax extenders bill which will extend the tax breaks until the end of 2014, but will force Congress to have to take up the issue again in 2015. Maybe they will do it sooner than the end of the year next year…
This should keep the tax season opener at regular time at the end of January. The date the IRS will start accepting e-files has not officially been announced yet, so stay posted. Hopefully the Tax Extenders passage will allow for them to make a decision soon.
In the meantime- see below what was affected in this decision.
Passage of Tax Extenders Contains Key Tax Breaks
WASHINGTON, D.C. (DECEMBER 17, 2014)
BY MICHAEL COHN
Congress’s long-awaited passage of tax extenders legislation provides a short-term extension through only the end of this year of dozens of familiar tax breaks for businesses and individuals, along with a new savings program for the disabled.
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