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List of Expiring Federal Tax Provisions 2010-2020

List of Expiring Federal Tax Provisions 2010-2020

Posted by List of Expiring Federal Tax Provisions 2010-2020 on 9 November 2011

List of Expiring Federal Tax Provisions

2010-2020

.

 

I. FEDERAL TAX PROVISIONS2 EXPIRING 2010-2020

A.  Expiring in 2010

Expiration Date

1. First-time homebuyer credit

4/30/10

 

2. Sixty-five percent subsidy for payment of COBRA health care coverage continuation premiums

5/31/10

3. Alternative motor vehicle credit for advanced lean burn technology motor vehicles and qualified hybrid motor vehicles that are passenger automobiles or light trucks

12/31/10

4. Alternative motor vehicle credit for qualified alternative fuel vehicles

12/31/10

5. Alternative fuel vehicle refueling property - increase in credit rate and credit

12/31/10

6. Making work pay credit

12/31/10

7. General business credits of eligible small businesses not subject to the alternative minimum tax

12/31/10

8. General business credits of eligible small businesses carried back five years)

12/31/10

9. Work opportunity tax credit targeted group status for unemployed veterans and disconnected youth

12/31/10

10. Qualified school construction bonds - allocation of bond authority

12/31/10

11. Authority to issue Build America Bonds

12/31/10

12. Modification of AMT limitations on tax- exempt bonds

12/31/10

13. Deferral and ratable inclusion of income from business debt discharged by reacquisition

12/31/10

14. Exclusion from income for benefits provided to volunteer firefighters and emergency medical

12/31/10

15. Qualified mortgage bonds for refinancing of subprime loans

12/31/10

16. Expansion of availability of industrial development bonds to facilities manufacturing intangible property

12/31/10

17. Volume cap carryforward and set-aside for private activity bonds for housing

12/31/10

18. Bonds guaranteed by Federal Home Loan banks eligible for treatment as tax-exempt bonds

12/31/10

19. Deduction for health insurance costs in computing self-employment taxes

12/31/10

20. Five-year amortization of music and music

12/31/10

21. Natural gas distribution lines treated as 15- year

12/31/10

22. Increase in amount allowed as a deduction for start-up expenditures

12/31/10

23. Modification of small issuer exception to tax-exempt interest allocation rules for financial

12/31/10

24. De minimis safe harbor exception for tax- exempt interest expense of financial institutions

12/31/10

25. Special rule for long-term contract accounting - allocation of bonus depreciation

12/31/10

26. Computer technology and equipment allowed as a qualified higher education expense for section 529

12/31/10

27. Authority to issue recovery zone economic development bonds and facility bonds

12/31/10

28. Payroll tax forgiveness for hiring unemployed

12/31/10

29. Business credit for retention of certain newly hired individuals

12/31/10

30. Qualifying therapeutic discovery project credit

12/31/10

31. Estate and gift tax regime for 2010

 

a. Election for executors of estates of decedents dying during 2010 to apply the 2010 EGTRRA estate tax and modified carryover basis rules

12/31/10

b. Zero rate for generation skipping transfer tax

12/31/10

c. $1 million gift tax exemption

12/31/10

 

 

B. Expiring in 2011

 

Expiration Date

1. Enhanced credit for health insurance costs of eligible individuals

2/13/11

2. Airport and Airway Trust Fund excise taxes:

 

a. All but 4.3 cents-per-gallon of taxes on noncommercial aviation kerosene and noncommercial aviation

3/31/11

 

b. Domestic and international air passenger ticket

3/31/11

c. Air cargo tax)

3/31/11

3. First-time homebuyer credit for individuals on qualified official extended duty outside the United States

4/30/11

 

4. FUTA surtax of 0.2 percent

6/30/11

5. Highway Trust Fund excise tax rates:

 

a. All but 4.3 cents-per-gallon of the taxes on highway gasoline, diesel fuel, kerosene, and alternative fuels (secs. 4041(a) and 4081(d)(1))

9/30/11

b. Reduced rate of tax on partially exempt methanol or ethanol fuel

9/30/11

c. Tax on retail sale of heavy highway vehicles

9/30/11

d. Tax on heavy truck tires

9/30/11

e. Annual use tax on heavy highway vehicles

9/30/11

6. Leaking Underground Storage Tank Trust Fund financing rate

9/30/11

7. Credit for certain nonbusiness energy property

12/31/11

8. Personal tax credits allowed against regular tax and AMT

12/31/11

9. Credit for electric drive motorcycles, three-wheeled vehicles, and low-speed vehicles

12/31/11

10. Conversion credit for plug-in electric

12/31/11

11. Alternative fuel vehicle refueling property (non-hydrogen refueling property)

12/31/11

12. Expansion of adoption credit and adoption assistance programs

12/31/11

13. Incentives for alcohol fuels

 

a. Alcohol fuels income tax credit (alcohol fuel, alcohol used to produce a qualified mixture, and small ethanol producers)

12/31/11

b. Alcohol fuel mixture excise tax credit and outlay payments

12/31/11

14. Incentives for biodiesel and renewable diesel:

 

a. Income tax credits for biodiesel fuel, biodiesel used to produce a qualified mixture, and small agri-biodiesel producers.

12/31/11

b. Income tax credits for renewable diesel fuel and renewable diesel used to produce a qualified mixture.

12/31/11

c. Excise tax credits and outlay payments for biodiesel fuel mixtures.

12/31/11

d. Excise tax credits and outlay payments for renewable diesel fuel mixtures

12/31/11

15. Tax credit for research and experimentation expenses

12/31/11

16. Placed-in-service date for facilities eligible to claim the refined coal production credit (other than refined coal facilities that produce steel industry fuel)

12/31/11

17. Indian employment tax credit

12/31/11

18. New markets tax credit

12/31/11

19. Credit for certain expenditures for maintaining railroad tracks

12/31/11

20. Credit for construction of new energy efficient

12/31/11

21. Credit for energy efficient appliances

12/31/11

22. Mine rescue team training credit

12/31/11

23. Employer wage credit for activated military reservists)

12/31/11

24. Grants for specified energy property in lieu of tax

12/31/11

25. Work opportunity tax credit

12/31/11

26. Qualified zone academy bonds - allocation of bond limitation

12/31/11

27. Increased AMT exemption amount

12/31/11

28. Deduction for certain expenses of elementary and secondary school teachers

12/31/11

29. Parity for exclusion from income for employer-provided mass transit and parking benefits

12/31/11

30. Treatment of military basic housing allowances under low-income housing credit

12/31/11

31. Premiums for mortgage insurance deductible as interest that is qualified residence interest

12/31/11

32. Deduction for State and local general sales taxes

12/31/11

33. 15-year straight-line cost recovery for qualified leasehold improvements, qualified restaurant buildings and improvements, and qualified retail improvements

12/31/11

34. Seven-year recovery period for motorsports entertainment complexes

12/31/11

35. Accelerated depreciation for business property on an Indian reservation

12/31/11

36. Additional first-year depreciation for 100 percent of basis of qualified property

12/31/11

37. Special rules for contributions of capital gain real property made for conservation purposes

12/31/11

38. Enhanced charitable deduction for contributions of food inventory

12/31/11

39. Enhanced charitable deduction for contributions of book inventories to public schools

12/31/11

40. Enhanced charitable deduction for corporate contributions of computer equipment for educational purposes

12/31/11

41. Increase in expensing to $500,000/$2,000,000 and expansion of definition of section 179 property

12/31/11

42. Election to expense advanced mine safety

12/31/11

43. Special expensing rules for certain film and television productions

12/31/11

44. Expensing of “brownfields” environmental remediation costs

12/31/11

45. Deduction allowable with respect to income attributable to domestic production activities in Puerto Rico

12/31/11

46. Above-the-line deduction for qualified tuition and related expenses

12/31/11

47. Tax-free distributions from individual retirement plans for charitable purposes

12/31/11

48. Special rule for sales or dispositions to implement Federal Energy Regulatory Commission (“FERC”) or State electric restructuring policy

12/31/11

49. Modification of tax treatment of certain payments to controlling exempt organizations

12/31/11

50. Suspension of 100 percent-of-net-income limitation on percentage depletion for oil and gas from marginal wells

12/31/11

51. Treatment of certain dividends of regulated investment companies (“RICs”)

12/31/11

52. RIC qualified investment entity treatment under FIRPTA

12/31/11

53. Exceptions under subpart F for active financing income

12/31/11

54. Look-through treatment of payments between related controlled foreign corporations under the foreign personal holding company rules

12/31/11

55. Special rules for qualified small business stock

12/31/11

56. Basis adjustment to stock of S corporations making charitable contributions of property

12/31/11

57. Reduction in S corporation recognition period for built-in gains tax

12/31/11

58. Empowerment zone tax incentives:

 

a. Designation of an empowerment zone and of additional empowerment zones

12/31/11

b. Increased exclusion of gain (attributable to periods through 12/31/16) on the sale of qualified business stock of an empowerment zone business

12/31/11

c. Empowerment zone tax-exempt bonds

12/31/11

d. Empowerment zone employment credit

12/31/11

e. Increased expensing under sec. 179

12/31/11

f. Nonrecognition of gain on rollover of empowerment zone investments

12/31/11

59. Tax incentives for investment in the District of Columbia (“DC”):

 

a. Designation of DC Zone, employment tax credit, and additional expensing

12/31/11

b. DC Zone tax-exempt bonds

12/31/11

c. Acquisition date for eligibility for zero percent capital gains rate for investment in DC for gains through 12/31/

12/31/11

d. Tax credit for first-time DC homebuyers

12/31/11

60. Definition of gross estate for RIC stock owned by a nonresident not a citizen of the United States

12/31/11

61. Disclosure of prisoner return information to certain prison officials

12/31/11

62. Incentives for alternative fuel and alternative fuel mixtures (other than liquefied hydrogen):

 

a. Excise tax credits and outlay payments for alternative fuel

12/31/11

b. Excise tax credits and outlay payments for alternative fuel mixtures

12/31/11

63. Temporary increase in limit on cover over of rum excise tax revenues (from $10.50 to $13.25 per proof gallon) to Puerto Rico and the Virgin Islands

12/31/11

64. American Samoa economic development credit

12/31/11

65. Temporary payroll tax cut

12/31/11

 

 

C. Provisions Expiring in 2012

Expiration Date

1. Qualified green buildings and sustainable design project bonds

9/30/12

2. Increase of the size of 15 percent rate bracket for married filers to double that of unmarried filers

12/31/12

3. Reduced capital gain rates for individuals

12/31/12

4. Dividends of individuals taxed at capital gain rates

12/31/12

5. Ten percent individual income tax rate

12/31/12

6. Reduction in other individual income tax rates - size of 15 percent rate bracket modified to reflect 10 percent rate, and 28 percent, 31 percent, 36 percent and 39.6 percent rates are reduced to 25 percent, 28 percent, 33 percent and 35 percent, respectively

12/31/12

7. Dependent care credit - increase of dollar limit on creditable expenses from $2,400 to $3,000 ($4,800 to $6,000 for two or more children), increase of applicable credit percentage from 30 to 35 percent, increase of beginning point of phase-out range from $10,000 to $15,000

12/31/12

8. Adoption credit and adoption assistance exclusion - increase to $10,000 for maximum credit and maximum exclusion, special needs adoptions deemed to have $10,000 eligible expenses for purposes of credit and exclusion, increase the beginning and ending points of phase-out range for credit and exclusion, allow the credit against AMT

12/31/12

9. Child credit - increase from $500 to $1,000, expand eligibility for refundable portion of the credit, AMT relief, provide that child credit not treated as income or resources for purposes of benefit or assistance programs financed in whole or in part with Federal funds

12/31/12

10. Refundable child credit floor amount at $3,

12/31/12

11. American opportunity tax credit

12/31/12

12. Earned income tax credit (“EITC”) - increase in the beginning point of the phase-out range for joint returns, modification of EITC treatment of amounts not includible in income, repeal of reduction of EITC for AMT liability, expansion of math error authority

12/31/12

13. Earned income tax credit:

 

a. Credit percentage of 45 percent for three or more qualifying children

12/31/12

b. Phaseout threshold for marriage penalty relief

12/31/12

14. Cellulosic biofuel producer credit

12/31/12

15. Placed-in-service date for wind facilities eligible to claim electricity production credit

12/31/12

16. Credit for production of Indian coal

12/31/12

17. Credit for employer-provided child care

12/31/12

18. Election to claim the energy credit in lieu of the electricity production credit for wind facilities

12/31/12

19. Credit for prior year minimum tax liability made refundable after period of years

12/31/12

20. Increase of the standard deduction for married filers to double that of unmarried filers

12/31/12

21. Repeal of overall limitation on itemized deductions (the “Pease limitation

12/31/12

22. Discharge of indebtedness on principal residence excluded from gross income of individuals

12/31/12

23. Elimination of tax on awards under the National Health Service Corps Scholarship Program and the F. Edward Hebert Armed Forces Health Professions Scholarship and Financial Assistance Program

12/31/12

24. Employer-provided educational assistance - expansion to graduate education and making the exclusion permanent

12/31/12

25. Tax-exempt bonds for educational facilities - increase in amount of bonds qualifying for small-issuer arbitrage rebate exception, expansion of tax-exempt bond treatment to public school facilities

12/31/12

26. Repeal of the personal exemptions phaseouts (“PEP”) for high income taxpayers

12/31/12

27. Additional first-year depreciation for 50 percent of basis of qualified property

12/31/12

28. Election to accelerate AMT credits in lieu of additional first-year depreciation

12/31/12

29. Special depreciation allowance for cellulosic biofuel plant property

12/31/12

30. Increase in dollar limitations for expensing to $125,000/500,000

12/31/12

31. Student loan interest deduction - increase and indexation for inflation of the phaseout ranges, repeal of the limit on the number of months that interest payments are deductible, repeal of the rule that voluntary payments of interest are not deductible

12/31/12

32. Repeal of collapsible corporation

12/31/12

33. Education IRAs (Coverdell education savings accounts) - increase of maximum annual contribution from $500 to $2,000, expansion of definition of qualified education expenses, increase in the size of the phase-out range for married filers to double that of unmarried filers, provision of special needs beneficiary rules, contributions by corporations and other entities, and contributions until April 15th, permitted

12/31/12

34. Reduced rates under accumulated earnings tax and personal holding company tax

12/31/12

35. Modified tax treatment of electing Alaska Native Settlement Trusts and their beneficiaries

12/31/12

36. Estate, gift, and generation skipping transfer tax provisions

 

a. Reduction in the maximum estate and gift tax rate to 35 percent

12/31/12

b. Modifications of estate and gift taxes to reflect differences in credit resulting from different tax rates

12/31/12

c. Increase in estate and gift tax exemption to $5 million (indexed for inflation in years after 2011)

12/31/12

d. “Portability” rules permitting a surviving spouse to use the unused estate and gift tax exemptions of the last deceased spouse

12/31/12

e. Estate tax deduction for State death taxes paid

12/31/12

f. Expansion and clarification of estate tax conservation easement rules

12/31/12

g. Repeal of the qualified family-owned business deduction

12/31/12

h. Modifications to generation-skipping transfer tax rules regarding deemed allocations of exemption to certain transfers in trust, severing of trusts, valuation, and relief for late elections

12/31/12

i. Modifications to estate tax installment payment rules

12/31/12

37. Refunds disregarded in the administration of Federal programs and Federally assisted programs

12/31/12

 

 

D.  Expiring in 2013

 

Expiration Date

1. Determination of low-income housing credit rate

12/31/13

2. Placed-in-service date for facilities (other than wind facilities) eligible to claim the electricity production credit

12/31/13

3. Election to claim the energy credit in lieu of the electricity production credit for renewable power facilities other than wind facilities

12/31/13

4. Three-year depreciation for race horses two years old or younger

12/31/13

5. Placed-in-service date for partial expensing of certain refinery property

12/31/13

6. Energy efficient commercial buildings deduction

12/31/13

7. Transfer of excess pension assets to retiree health accounts

12/31/13

 

 

E.  Expiring in 2014

 

Expiration Date

1. Incentives for alternative fuel and alternative fuel mixtures involving liquefied hydrogen:

 

a. Excise tax credits and outlay payments for liquefied hydrogen

9/30/14

b. Excise tax credits and outlay payments for liquefied hydrogen fuel mixtures (

9/30/14

2. Alternative motor vehicle credit for qualified fuel cell motor vehicles

12/31/14

3. Alternative fuel vehicle refueling property (hydrogen refueling property)

12/31/14

4. Automatic amortization extension for multiemployer defined benefit pension plans

12/31/14

5. Additional funding rules for multiemployer defined benefit pension plans in endangered or critical status

12/31/14

6. Deemed approval of adoption, use or cessation of shortfall funding method for multiemployer defined benefit pension plans

12/31/14

 

 

F.  Expiring in 2016

 

Expiration Date

1. Credit for residential energy property)

12/31/16

2. Increased credit for business solar energy property

12/31/16

3. Credit for hybrid solar lighting systems

12/31/16

4. Energy credit for geothermal heat pump property, small wind property, and combined heat and power property

12/31/16

5. Credit for business installation of qualified fuel cells and stationary microturbine power plants

12/31/16

 

 

G.  Expiring in 2017

 

Expiration Date

1. Oil Spill Liability Trust Fund financing rate

12/31/17

 

 

H.  Expiring in 2018

 

Expiration Date

1. Black Lung Disability Trust Fund: increase in amount of excise tax on coal

12/31/18

 

 

I.Expiring in 2020

 

Expiration Date

1. Placed-in-service date for eligibility for the credit for production from certified advanced nuclear power facilities

12/31/20

 

 

II. TEMPORARY DISASTER RELIEF FEDERAL TAX PROVISIONS EXPIRING 2010-2013

A. Temporary Disaster Relief Federal Tax Provisions Expiring in 2010

 

Expiration Date

1. Acceleration of income tax benefits for charitable cash contributions for relief of victims of earthquake in Haiti

2/28/10

2. Advance refunding of certain tax-exempt bonds

12/31/10

3. Treatment of residences located in the Gulf Opportunity Zone, the Rita GO Zone, or the Wilma GO Zone as targeted area residences for purposes of mortgage revenue bond rules

12/31/10

4. Waiver of first-time homebuyer rule for qualified Hurricane Katrina residences financed with mortgage revenue bonds

12/31/10

5. Tax relief for areas damaged by 2008 Midwestern severe storms, tornados and flooding

 

a. Low-income housing tax credit relief

12/31/10

b. Expensing for demolition and clean-up costs

12/31/10

c. Extension of expensing for environmental remediation costs

12/31/10

d. Special rules for mortgage revenue bonds

12/31/10

e. Treatment of net operating losses attributable to disaster losses

12/31/10

6. Low-income housing tax relief for areas damaged by Hurricane Ike in 2008

12/31/10

 

 

B. Temporary Disaster Relief Federal Tax Provisions Expiring in 2011

Provision (Code section)

Expiration Date

1. New York Liberty Zone: tax-exempt bond financing

12/31/11

2. Tax-exempt bond financing for the Gulf Opportunity Zone

12/31/11

3. Low-income housing credit additional housing credit dollar amount for the Gulf Opportunity Zone and certain programmatic expansions for the Gulf Opportunity Zone, the Rita GO Zone, and the Wilma GO Zone

12/31/11

4. Placed-in-service date for additional depreciation for specified Gulf Opportunity Zone extension property

12/31/11

5. Increase in rehabilitation credit for structures located in the Gulf Opportunity Zone

12/31/11

6. Increase in rehabilitation credit for areas damaged by 2008 Midwestern severe storms, tornados and flooding

12/31/11

 

 

C. Temporary Disaster Relief Federal Tax Provisions Expiring in 2012

 

Expiration Date

1. Tax-exempt bond financing rules for areas damaged by 2008 Midwestern severe storms, tornados and flooding

12/31/12

2. Tax-exempt bond financing rules for areas damaged by Hurricane Ike in 2008

12/31/12

 

 

D. Temporary Disaster Relief Federal Tax Provisions Expiring in 2013

 

Expiration Date

1. Extension of replacement period for non-recognition of gain for areas damaged by 2008 Midwestern severe storms, tornados and flooding

12/31/13