President Signs Tax Extenders Bill Which Includes the R&D Tax Credit
On Friday, December 19, President Obama signed into law H.R. 5771 Tax Increase Prevention Act of 2014. As reported earlier, the bill provides a one-year extension of expired business and individual tax provisions including the R&D tax credit.
Other extenders included in the bill are 50 percent bonus depreciation for qualified property, 15-year straight-line depreciation for qualified leasehold, restaurant and retail improvements, and the §179D green building deduction.
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