Tax Extenders Update- 179D & 45L

Below are some updates to the Tax Extender:

• The Senate Finance Committee Tax Extender Taskforces, mentioned previously, are moving forward on their work to consider the expired tax extenders.

• Each taskforce has a different number of tax extenders to consider so some have made more progress than others.

• 179D falls under “The Cost Recovery Taskforce” which began its work during the first week of June.

• The 45L Home Efficiency Tax Credit is being handled by “The Energy Taskforce”.

• The House Ways and Means Committee held a Member Day hearing at the beginning of June and Representative Bobby Rush (D-Ill.), the Chairman of the Energy and Commerce Committee’s Subcommittee on Energy, submitted comments in support of both 179D & 45L.

In conclusion, there continues to be work and movement towards extensions of both of the 179D & 45L Speciality Tax Services along with bi-partisan support in both the House and Senate.