Possible Discussion in Congress Over “Tax Extenders”

Will the fate of the so-called “tax extenders” be addressed in Congress this year? It’s unclear at this time. The extenders could be part of an omnibus bill, expected in December. According to a recent Congressional Research Service (CRS) report, 40 temporary tax provisions expired in 2021 and others are set to expire in or after 2022. Congress may also want to consider some nontraditional options for tax policies. Some expired energy tax provisions have already been extended by the Inflation Reduction Act. Others that expired in 2021 were enacted because of the pandemic and “subsequent economic recession,” CRS said. Click here to read the full report.

Posted October 25, 2022