Tax Credits Industry Updates Blog


Tax Increase Prevention Act of 2014

Tax Increase Prevention Act of 2014 - H.R. 5771 

The extended business credits and special depreciation and expensing rules include:

Sec. 111. Extension of research credit;

Sec. 114. Extension of Indian employment tax credit;

Sec. 115. Extension of new markets tax credit;

Sec. 118. Extension of employer wage credit for employees who are active duty members of the uniformed services.

Sec. 119. Extension of work opportunity tax credit. 

Sec. 122. Extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.

Sec. 124. Extension of accelerated depreciation for business property on an Indian reservation.

Sec. 129. Extension of special expensing rules for certain film and television productions.

Sec. 124. Extension of accelerated depreciation for business property on an Indian reservation.

Sec. 139. Extension of empowerment zone tax incentives.