{
  "id": "R43510",
  "type": "CRS Report",
  "typeId": "REPORTS",
  "number": "R43510",
  "active": true,
  "source": "EveryCRSReport.com, University of North Texas Libraries Government Documents Department",
  "versions": [
    {
      "source": "EveryCRSReport.com",
      "id": 448571,
      "date": "2016-01-07",
      "retrieved": "2016-04-06T17:34:35.243365",
      "title": "Selected Recently Expired Business Tax Provisions (\u201cTax Extenders\u201d)",
      "summary": "The Consolidated Appropriations Act of 2016 (P.L. 114-113), signed into law on December 18, 2015, made permanent, extended through 2019, or extended through 2016 some tax provisions that had expired at the end of 2014. Previous legislation had extended these provisions for a year (or in some cases two years) at a time. Several bills had been considered in the 114th Congress to make some provisions permanent, including the R&E tax credit (H.R. 880), expensing of investments (H.R. 636, S. 1399), and treatment of built-in gains for Subchapter S corporations (H.R. 636). The Senate Finance Committee had earlier reported legislation, the Tax Relief Extension Act of 2015 (S. 1946), that would retroactively extend expired tax provisions, for two years, through 2016. \nThis report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2014. The list below indicates whether a provision was made permanent or extended through either 2016 or 2019. This report discusses\nProvisions that include three employer-related benefits:\nWork Opportunity Tax Credit (2019)\nIndian Employment Tax Credit (2016)\nEmployer Wage Credit for Activated Military Reservists (permanent)\nTwo international provisions that provide exceptions from the Subpart F rules:\nLook-Through Treatment of Payments between Related Controlled Foreign Corporations under the Foreign Personal Holding Company Rules (2019)\nExceptions under Subpart F for Active Financing Income (permanent)\nSeven special business cost recovery provisions: \nBonus Depreciation (2019, phased down from the current 50% share through 2017 to 40% in 2018 and 30% in 2019)\nIncrease in Expensing to $500,000/$2,000,000 and Expansion of Definition of Section 179 Property (permanent)\nSpecial Expensing Rules for Certain Film and Television Productions (2016)\n15-Year Straight-Line Depreciation Provisions (permanent)\n7-Year Recovery Period for Motorsports Entertainment Complexes (2016)\n3-Year Depreciation for Race Horses Two Years Old or Younger (2016)\nAccelerated Depreciation for Business Property on an Indian Reservation (2016)\nTwo provisions related to regulated investment companies (RICs): \nTreatment of Certain Dividends of RICs (permanent)\nRIC Qualified Investment Entity Treatment under the Foreign Investment in Real Property Act (FIRPTA) (permanent, a separate provision expands this exemption for Real Estate Investment Trusts)\nEight other business-related provisions: \nTax Credit for Research and Experimentation Expenses (permanent)\nCredit for Certain Expenditures for Maintaining Railroad Tracks (2016)\nReduction in S-Corporation Recognition Period for Built-In Gains (permanent)\nElection to Accelerate AMT Credits in Lieu of Additional First-Year Depreciation (2019)\nTemporary Increase in Limit on Cover Over of Rum Excise Tax Revenues to Puerto Rico and the Virgin Islands (2016)\n100% Exclusion for Qualified Small Business Stock (permanent)\nDeduction Allowable with Respect to Income Attributable to Domestic Production Activities in Puerto Rico (2016)\nModification of Tax Treatment of Certain Payments to Controlling Exempt Organizations (permanent)\nThis report does not include provisions that in the past have been classified as charitable, community development, individual, or housing-related provisions. These provisions are included in the following CRS reports:\nCRS Report R43517, Recently Expired Charitable Tax Provisions (\u201cTax Extenders\u201d): In Brief, by Jane G. Gravelle and Molly F. Sherlock\nCRS Report R43541, Recently Expired Community Assistance-Related Tax Provisions (\u201cTax Extenders\u201d): In Brief, by Sean Lowry\nCRS Report R43688, Selected Recently Expired Individual Tax Provisions (\u201cTax Extenders\u201d): In Brief, by Jane G. Gravelle\nCRS Report R43449, Recently Expired Housing Related Tax Provisions (\u201cTax Extenders\u201d): In Brief, by Mark P. Keightley",
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      "topics": [
        {
          "source": "IBCList",
          "id": 571,
          "name": "Business Taxation"
        }
      ]
    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc818032/",
      "id": "R43510_2014Nov06",
      "date": "2014-11-06",
      "retrieved": "2016-03-19T13:57:26",
      "title": "Selected Recently Expired Business Tax Provisions (\u201cTax Extenders\u201d)",
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      "type": "CRS Report",
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    },
    {
      "source": "University of North Texas Libraries Government Documents Department",
      "sourceLink": "https://digital.library.unt.edu/ark:/67531/metadc306513/",
      "id": "R43510_2014Apr30",
      "date": "2014-04-30",
      "retrieved": "2014-07-08T21:53:44",
      "title": "Selected Recently Expired Business Tax Provisions (\"Tax Extenders\")",
      "summary": "This report briefly summarizes and discusses the economic impact of selected business-related tax provisions that expired at the end of 2013 and that are being considered for extension.",
      "type": "CRS Report",
      "typeId": "REPORT",
      "active": false,
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      "topics": [
        {
          "source": "LIV",
          "id": "Taxation",
          "name": "Taxation"
        },
        {
          "source": "LIV",
          "id": "Business",
          "name": "Business"
        },
        {
          "source": "LIV",
          "id": "Tax cuts",
          "name": "Tax cuts"
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  "topics": [
    "Appropriations",
    "Economic Policy"
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}