Greenbaum, Rowe, Smith & Davis LLP Client Alert
1.16

In the seasonal spirit of giving and just before recessing for the holidays, Congress took action in the form of numerous tax relief provisions by passing the Protecting Americans from Tax Hikes Act of 2015 (PATH), signed into law by President Obama on December 18, 2015. 

The new law retroactively reinstates and extends a range of individual and small business tax planning provisions that had previously expired at the end of 2014.  In addition, PATH makes permanent over 20 key tax provisions.  The passing of PATH protects important tax savings measures and provides more certainty to tax provisions for both individuals and small businesses.

Key provisions of PATH providing permanent extensions for individuals include:

Key provisions of PATH providing two year extensions for individuals include:

Key provisions of PATH providing permanent extensions for businesses include:

Key provisions of PATH providing five year extensions for businesses are as follows:

Additional provisions of PATH include:

PATH addresses numerous other areas not outlined in this Alert, including measures affecting extensions of certain energy provisions, the Affordable Care Act, exempt organizations, modifications and clarifications to the tax rules for REITs, and IRS administration provisions. 

For additional information, or to discuss how any of the provisions of PATH may impact you or your business, please contact the author of this Alert, Laurence E. Fundler, or any member of our Tax, Trusts & Estates Department.  

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