Last evening the Senate
overwhelmingly passed the Tax Extenders Bill (HR.5771) which extends all
expired tax provisions retroactively from 12/31/2013 through the end of 2014.
The bill will now move onto the President to be formally signed into law. Presidential
veto is not expected on the one year package.
Why should I care?
You should care if you are
the owner, builder or designer of a commcercial or public building put into
service in 2014.
It means a Federal 179D Tax
Deduction of up to $1.80 per square foot will be available for all qualifying
buildings. If your building’s energy performance exceeds a benchmark set in
2005, you may be able to claim this federal income tax deduction.
This applies to owners of
commercial buildings and designers and/or builders of public buildings.
