Friday, January 03, 2014

From NASCAR to wind power: Congress just let 55 tax breaks expire --- This is becoming an annual tradition of sorts. Every year, there are a raft of "temporary" tax breaks, credits, and deductions that expire on Dec. 31. Lawmakers usually plan on extending them. But they don't always get to it on time. -- This year, Congress let about 55 different tax breaks expire on Dec. 31. The full array includes everything from a credit for corporate R&D to tax relief for underwater homeowners. The list also includes a batch of energy tax breaks, like a credit for wind farms that generate electricity or a deduction for commuters who take the bus to work. Those are now gone. - More, washingtonpost, at: http://www.washingtonpost.com/blogs/wonkblog/wp/2014/01/02/from-nascar-to-wind-power-congress-just-let-55-tax-breaks-expire/

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