Production Tax Credit for Wind Energy and Dozens of Other Expired US Tax Provisions Extended Through 2014

Keywords: Tax Increase Prevention Act, tax benefits, renewable energy

President Obama signed into law H.R. 5771, the Tax Increase Prevention Act, which extends until December 31, 2014, more than 50 tax benefits that had expired on December 31, 2013. Signed on December 19, the law had been passed by Congress just days previously, after months of back-and-forth regarding the nature of the “extenders” package.1

One of the tax credits that was extended in the package was […]

By |December 29th, 2014|

United States: The 2014 Charitable IRA Rollover: Who Might Benefit, And When Must Action Be Taken?

Jason E. Havens is Senior Counsel in our Jacksonville office and Richard P. Sills is a Partner in our Washington D.C. office.

As anticipated in our last post, President Obama signed into law the Tax Increase Prevention Act of 2014 (Pub. L. No. 113-___ (2014)) on December 19, 2014. As a result, taxpayers age 70 1/2 or older may avoid reporting as income up to $100,000 of an otherwise Required Minimum Distribution (RMD) by transferring […]

By |December 29th, 2014|

Cyprus Signs Agreement With United States Under Foreign Account Tax Compliance Act

On December 2 2014 the Cypriot finance minister and the US ambassador to Cyprus formally signed the intergovernmental agreement between Cyprus and the United States under the Foreign Account Tax Compliance Act (FATCA). The act is a US tax measure enacted in 2010 to prevent and detect tax evasion on income derived by US persons (citizens or residents) from sources outside the United States, improve taxpayer compliance and create greater transparency by strengthening information […]

By |December 29th, 2014|