First Steps Revisited: Additional Tax Relief For Businesses And Homebuyers |
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Congress has approved and President Obama has signed into law an unemployment insurance extension bill that allows businesses with net operating losses for 2008 or 2009 to carry back those losses for up to five years and extends and liberalizes the first-time homebuyer tax credit. These provisions are paid for by a delay in the effective date of the worldwide interest allocation election, an increase in the corporate estimated tax payments for certain large taxpayers in the third quarter of 2014, and an increase in the penalty for failure to file a partnership or S corporation return.
"First Steps Revisited: Additional Tax Relief For Businesses And Homebuyers" from Deloitte Tax LLP examines the tax provisions in the Worker, Homeownership, and Business Assistance Act of 2009 and outlines what taxpayers should be doing now to take advantage of the important planning opportunities the new law presents.
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First Steps Revisited: Additional Tax Relief for Businesses and Homebuyers
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