To budget accordingly, you must know which ones have far-reaching ramifications.

The expiration of the Federal tax provisions will almost certainly have an adverse impact on a wide swath of taxpayers; increasing the effective tax rate of both large and small businesses, with additional collateral damage to individuals and charitable organizations. Notable expired provisions include higher Section 179 limits, bonus depreciation, energy tax incentives, the R&D credit, and many others.

At the time of this writing, the prospect for retroactive extension of these provisions is unclear at best. Sen. Harry Reid introduced an extender bill (S. 1859) in December that failed to pass by unanimous consent. The Senate Finance Committee is working on another extender bill, but members of both parties have expressed their preference for comprehensive tax reform in favor of tax extender legislation. Whether or not such legislation will be enacted prior to the upcoming mid-term election is anyone’s guess, but by historical standards prospects for near-term, comprehensive tax reform are dim.

Access this comprehensive list now to find out which Expiring Federal Tax Provisions (2013-2023) impact you »