Question

Tax Increase Prevention Act of 2014 - Extenders

Accepted Answer

Per the IRS website Key provisions impacted by P.L. 113-295:

The Tax Increase Prevention Act of 2014 includes the following key provisions:

Extension of deduction for certain expenses of elementary and secondary school teachers
Extension of parity for employer-provided mass transit and parking benefits
Extension of mortgage insurance premiums treated as qualified residence interest
Extension of deduction of State and local general sales taxes
Extension of special rule for contributions of capital gain real property made for conservation purposes
Extension of above-the-line deduction for qualified tuition and related expenses
Extension of tax-free distributions from individual retirement plans for charitable purposes
Extension of research credit
Extension of new markets tax credit
Extension of work opportunity tax credit
Extension of bonus depreciation
Extension of enhanced charitable deduction for contributions of food inventory
Extension of increased expensing limitations and treatment of certain real property as Code section 179 property
Extension of temporary exclusion of 100% of gain on certain small business stock
Extension of second generation biofuel producer credit
Extension of credits with respect to facilities producing energy from certain renewable resources
Extension of credit for energy-efficient new homes
Extension of excise tax credits relating to certain fuels
Extension of credit for alternative fuel vehicle refueling property
Extensions relating to multiemployer defined benefit pension plans