PATH of 2015

Protecting Americans from Tax Hikes Act of 2015

(the PATH Act) – 12-18-2015

Here is a list of key provisions.

Made permanent:

• Enhanced Child Tax Credit
• Enhanced American Opportunity Tax Credit
• Enhanced Earned Income Tax Credit
• IRA-to-charity — California automatically conforms
• R&D credit
• IRC §179 — enhanced
• Above-the-line educator deduction
• Sales tax deduction
• Built-in gains holding period
• Enhanced mass transit and parking pass benefits
• Enhanced exclusion of gain on sale of small business stock

Extended through 2016:

• Qualified tuition deduction
• COD principal residence exclusion
• Mortgage insurance premium deductible as interest
• Nonbusiness Energy Property Credit

Extended through 2019:

• First year bonus depreciation on automobiles
• Bonus depreciation — phases out
• Work Opportunity Tax Credit