Congress did not let us down in 2015 by not passing a bill to extend over 50 tax provisions that expired on January 1, 2015. They just waited until December 18, 2015, to pass the tax bill. It left us with 13 days in 2015 to take advantage of the tax provisions. The Protecting Americans from Tax Hikes Act of 2015 (PATH Act) extended several provisions that expired on January 1, 2015, but instead of extending for just one year like Congress has done the past several years, they made some provisions permanent: some have five-year extensions and others have two-year extensions.
You may be wondering whether there are any provisions in the PATH Act that would benefit your operations and what you should do to take advantage of them. First, we will go over the provisions that will affect your financial institution.
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