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Transportation Tax Extender and Others Expired on December 31, 2013

Friday, January 3rd, 2014

In a post last year, we wrote about the pending expiration of the IRA charitable contribution tax break on December 31, 2013. In addition to this tax break, many others expired as well. Congress can retroactively renew the extenders (so called because the tax breaks must be renewed each year), but as of right now, these are the tax breaks that have expired (courtesy of the Tax Foundation’s The Tax Policy Blog):

Individual Tax Extenders

  • Credit for health insurance costs for eligible individuals
  • 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.

Business Tax Extenders Extension of research credit.

  • 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 classification of certain race horses as 3-year property.
  • 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 bonus depreciation.
  • Extension of enhanced charitable deduction for contributions of food inventory.
  • Extension of increased expensing limitations and treatment of certain real property as section 179 property.
  • 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 temporary increase in limit on cover over of rum excise taxes to Puerto Rico and the Virgin Islands.
  • Extension of American Samoa economic development credit.
  • Election to accelerate AMT credit in lieu of bonus depreciation

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 of second generation 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 of credits with respect to facilities producing energy from certain renewable resources.
  • Extension of credit for energy-efficient new homes.
  • Extension of credits for energy-efficient appliances.
  • Extension of special allowance for second generation biofuel plant property.
  • Extension of placed in service date for election to expense certain refineries.
  • Extension of energy efficient commercial buildings deduction.
  • 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.