2017 Year-End Planning: Expired and Permanent Tax Provisions

As we are nearing the end of 2017 it’s a good time to review the changes to the IRS tax provisions. Below details some of the most prevalent provisions that expired in 2016, the provisions which have been permanently extended, and other extended tax provisions.

A Framework For Fixing Our Broken Tax Code

On September 27th, the Trump Administration, along with the House Ways and Means Committee and the Senate Committee on Finance released a unified framework for fixing our tax system.

IRS Enforcement of ACA (Obamacare)

In accordance with President Trump’s executive order calling on agencies to ease up on ACA (Obamacare) regulations, the IRS made changes whereby it will not reject a 2016 tax return for processing just because the taxpayer does not indicate their coverage status in Box 61.