American Taxpayer Relief Act: Specific Extensions Included

Below is a listing of the extensions covered in the American Taxpayer Relief Act.   If you see a line item that fits your circumstances or interest - contact us and we and we'll address the item in more detail for you.  ExactCPA.

Individual Tax Extenders

• Extension of deduction for certain expenses of elementary and secondary school teachers.
• Extension of exclusion from gross income of discharge of qualified principal residence indebtedness.
• Extension of parity for exclusion from income 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.
• Improve and make permanent the provision authorizing the Internal Revenue Service to disclose certain return and return information to certain prison officials.

Business Tax Extenders

• Extension and modification of research credit.
• Extension of increased expensing limitations and treatment of certain real property as section 179 property.
• Extension and modification of bonus depreciation.
• Extension of temporary minimum low-income tax credit rate for non-federally subsidized new buildings.
• Extension of housing allowance exclusion for determining area median gross income for qualified residential rental project exempt facility bonds.
• Extension of Indian employment tax credit.
• Extension of new markets tax credit.
• Extension of railroad track maintenance credit.
• Extension of mine rescue team training credit.
• Extension of employer wage credit for employees who are active duty members of the uniformed services.
• Extension of work opportunity tax credit.
• Extension of qualified zone academy bonds.
• Extension of 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements.
• Extension of 7-year recovery period for motorsports entertainment complexes.
• Extension of accelerated depreciation for business property on an Indian reservation.
• Extension of enhanced charitable deduction for contributions of food inventory.
• Extension of election to expense mine safety equipment.
• Extension of special expensing rules for certain film and television productions.
• Extension of deduction allowable with respect to income attributable to domestic production activities in Puerto Rico.
• Extension of modification of tax treatment of certain payments to controlling exempt organizations.
• Extension of treatment of certain dividends of regulated investment companies.
• Extension of RIC qualified investment entity treatment under FIRPTA.
• Extension of subpart F exception for active financing income.
• Extension of look-thru treatment of payments between related controlled foreign corporations under foreign personal holding company rules.
• Extension of temporary exclusion of 100 percent of gain on certain small business stock.
• Extension of basis adjustment to stock of S corporations making charitable contributions of property.
• Extension of reduction in S-corporation recognition period for built-in gains tax.
• Extension of empowerment zone tax incentives.
• Extension of tax-exempt financing for New York Liberty Zone.
• Extension of temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
• Modification and extension of American Samoa economic development credit.

Energy Tax Extenders

• Extension of credit for energy-efficient existing homes.
• Extension of credit for alternative fuel vehicle refueling property.
• Extension of credit for 2- or 3-wheeled plug-in electric vehicles.
• Extension and modification of cellulosic biofuel producer credit.
• Extension of incentives for biodiesel and renewable diesel.
• Extension of production credit for Indian coal facilities placed in service before 2009.
• Extension and modification of credits with respect to facilities producing energy from certain renewable resources.
• Extension of credit for energy-efficient new homes.
• Extension of credit for energy-efficient appliances.
• Extension and modification of special allowance for cellulosic biofuel plant property.
• Extension of special rule for sales or dispositions to implement FERC or State electric restructuring policy for qualified electric utilities.
• Extension of alternative fuels excise tax credits.

Unemployment

• Extension of emergency unemployment compensation program.
• Temporary extension of extended benefit provisions.
• Extension of funding for reemployment services and reemployment and eligibility assessment activities.
• Additional extended unemployment benefits under the Railroad Unemployment Insurance Act.

Medicare and Other Health Extensions

• Medicare physician payment update.
• Work geographic adjustment.
• Payment for outpatient therapy services.
• Ambulance add-on payments.
• Extension of Medicare inpatient hospital payment adjustment for low-volume hospitals.
• Extension of the Medicare-dependent hospital (MDH) program.
• Extension for specialized Medicare Advantage plans for special needs individuals.
• Extension of Medicare reasonable cost contracts.
• Performance improvement.
• Extension of funding outreach and assistance for low-income programs.
• Extension of the qualifying individual (QI) program.
• Extension of Transitional Medical Assistance (TMA).
• Extension of Medicaid and CHIP Express Lane option.
• Extension of family-to-family health information centers.
• Extension of Special Diabetes Program for Type I diabetes and for Indians..
• IPPS documentation and coding adjustment for implementation of MS-DRGs.
• Revisions to the Medicare ESRD bundled payment system to reflect findings in the GAO report.
• Treatment of multiple service payment policies for therapy services.
• Payment for certain radiology services furnished under the Medicare hospital outpatient department prospective payment system.
• Adjustment of equipment utilization rate for advanced imaging services.
• Medicare payment of competitive prices for diabetic supplies and elimination of overpayment for diabetic supplies.
• Medicare payment adjustment for non-emergency ambulance transports for ESRD beneficiaries.
• Removing obstacles to collection of overpayments.
• Medicare advantage coding intensity adjustment.
• Elimination of all funding for the Medicare Improvement Fund.
• Rebasing of State DSH allotments.
• Repeal of CLASS program.
• Commission on Long-Term Care.
• Consumer Operated and Oriented Plan program contingency fund.

Agricultural Programs

• 1-year extension of agricultural programs.
• Supplemental agricultural disaster assistance.