Article

President signs Extenders and Omnibus Acts, impacting a broad range of provisions

December 23, 2015 / 1 min read

Plante Moran’s National Tax Office issues periodic alerts to keep you apprised of important federal tax changes.

On December 18, President Obama signed the Protecting Americans from Tax Hikes Act of 2015 (PATH Act) and the FY 2016 Omnibus spending bill.

The Act:

Makes over 20 key tax provisions permanent, including the research tax credit, enhanced Code Sec. 179 expensing, and the American Opportunity Tax Credit
Extends other provisions, including bonus depreciation, for five years; and reviving many others for two years
Enhances many extenders
Imposes a two-year moratorium on the ACA medical device excise tax and “Cadillac” tax on high cost health plans