Protecting Americans from Tax Hikes (PATH) Act of 2015 and Other Recent Tax Acts: Law, Explanation & Analysis

Author(s): Wolters Kluwer Tax Law Editors

Published: Jan 29, 2016
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ISBN: 9780808043485
Product Number: 10015609-0014
Volumes: 1
Update Frequency: As Needed
900 Pages

Wolters Kluwer’s Protecting Americans from Tax Hikes (PATH) Act of 2015 and Other Recent Tax Acts: Law, Explanation & Analysis provides tax practitioners with a single integrated reference source of this important legislation. Along with the Internal Revenue Code provisions, as amended, Wolters Kluwer editors, together with leading tax practitioners, have created a complete practical analysis of this legislation.

Protecting Americans from Tax Hikes (PATH) Act of 2015; Consolidated Appropriations Act (P.L. 114-113)

The PATH Act includes the permanent extension of many popular tax-favorable provisions including the research and development credit, bonus depreciation, section 179 expensing, child tax credit, and the American Opportunity credit, many of which were modified in making them permanent. It also includes other provisions extended through the 2016 tax year, as well as a two-year moratorium on the medical device excise tax. The Consolidated Appropriations Act includes a delay in the implementation of the excise tax on so-called “Cadillac” medical plans.

The Fixing America’s Surface Transportation (FAST) Act (P.L. 114-94)

The FAST Act authorizes federal surface transportation programs through the federal government’s 2020 fiscal year. The legislation includes an extension of the expenditure authority for the Highway Trust Fund and various excise taxes used to finance the fund. It also provides new rules for the revocation or denial of passports to individuals with seriously delinquent tax debt as well as rules requiring the IRS to use private debt collectors to recover certain tax receivables.

Bipartisan Budget Act of 2015 (P.L. 114-74)

The Bipartisan Budget Act of 2015 replaces the TEFRA partnership audit rules, along with the rules for electing large partnership (ELPs), with a single set of rules for auditing partnerships and their partners at the partnership level. The legislation also clarifies that the family partnership rules do not provide an alternative test for whether a person is a partner in a partnership and the parties must show that they have joined together in an active trade or business.

Other 2015 tax acts covered herein:

  • Airport and Airway Extension Act of 2015 (P.L. 114-55)
  • Surface Transportation and Veterans Health Care Choice Improvement Act of 2015 (P.L. 114-41)
  • Trade Preferences Extension Act of 2015 (P.L. 114-27)
  • Defending Public Safety Employees’ Retirement Act (P.L. 114-26)
  • Don’t Tax Our Fallen Public Safety Heroes Act (P.L. 114-14)
  • Medicare Access and CHIP Reauthorization Act of 2015 (P.L. 114-10)
  • Slain Officer Family Support Act of 2015 (P.L. 114-7)

Protecting Americans from Tax Hikes (PATH) Act of 2015 and Other Recent Tax Acts: Law, Explanation & Analysis is now available in an eBook format which you can download to your computer instantly.

  • Table of Contents

Protecting Americans from Tax Hikes (PATH) Act of 2015 and Other Recent Tax Acts: Law, Explanation & Analysis

Topics and Content

  • Introduction
  • Explanations
  • Chapter 1: Individuals
    • Deductions
    • Exclusions from Gross Income
    • Charitable Contributions
  • Chapter 2: Business Income and Expenses
    • Code Sec. 179 and other Deductions
    • Depreciation
    • S Corporations and Charitable Contributions
    • Income, Bonds and other Provisions
  • Chapter 3: Tax Credits
    • Personal Tax Credits
    • Business Tax Credits
  • Chapter 4: Health Plans, 529 Accounts, and Retirement Plans
    • Health Plans
    • Section 529 and ABLE Accounts
    • Retirement Plans
  • Chapter 5: REITs, RICs and Foreign Provisions
    • Real Estate Investment Trusts (REITs)
    • U.S. Real Property Interest (FIRPTA)
    • Regulated Investment Companies (RICs)
    • Controlled Foreign Corporations (CFCs)
  • Chapter 6: Tax Practice and Procedure
    • Returns
    • Penalties
    • Assessment, Levies and Collection
    • Enrolled Agents
  • Chapter 7: Business Entities, Excise Taxes and other Provisions
    • Partnerships, Trusts and other Entities
    • Employment and Excise Taxes
    • IRS and Tax Court Reforms
    • Other Provisions
    • Code
    • Code Sections Added, Amended or Repealed
    • Act Sections not Amending Code Sections
    • Committee Reports
    • Effective Dates
    • Special Tables
    • Client Letters
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