On Tuesday, July 21st, the Senate Committee on Finance scheduled a markup of a bill to extend several dozen expired tax provisions. (View the session here.) See the document below for a description of the Chairman’s mark with respect to these expired tax provisions. The tax extenders legislation will provide for a two year extension on:

• New Market Tax Credit (see page 24)
• 45L Tax Credit for Energy Efficient Homes (see page 88)
• 179D Tax Deduction (see see page 91)

Additional Items:

• Research Credit (see page 18)
• Bonus Depreciation (see page 46)
• Expensing limitations and treatment of certain real property as section 179 property (see page 53)

Download the full Extenders Mark-up document here

prepared by the staff of the Joint Committee on Taxation