By: Amanda Wilson
It seems that this time every year, Congress struggles with whether it will pass temporary tax breaks referred to as “tax extenders” (see discussion of last year’s extenders package here). As we count down the days to 2016, we once again find ourselves in this position. There had been some talk about Congress passing a permanent extenders package so that we would not do this annual dance, but this talk has gone nowhere so far.
Yesterday, the republican members of the House Ways and Means committee (the committee charged with tax issues in the House of Republicans) indicated that the dance is about to start again. They plan introduce a two-year tax extenders bill shortly. Hopefully this will spur the discussions and provide taxpayers with some tax relief as a nice holiday gift.