Tax extenders

The Internal Revenue Service is prepared to handle three popular provisions that had expired for 2017 but were recently given new life by Congress.

President Trump signed into law H.R. 1892, the Bipartisan Budget Act of 2018, just hours after the Senate passed the bill by a vote of 71-28 and the House by a margin of 240-186 this month.

Fairness at last for vets; troublesome forms; ‘non-employee withholding;’ and other highlights from our favorite tax bloggers.

Oil companies that have claimed more than a billion dollars in tax credits for burying carbon dioxide underground just got a windfall from Congress, which expanded that incentive as part of the government spending bill signed into law on Friday.

President Trump just signed and enacted a two-year budget bill that extends government funding through March 23 and also retroactively extends numerous tax breaks that had previously expired.

The bipartisan budget deal signed into law Friday by President Trump contains 36 tax extenders that had expired at the end of 2016 and makes them retroactive to 2017.

Tucked inside the bipartisan budget deal are a slew of tax breaks for NASCAR, Hollywood, racehorses and rum. And beer, too.

Even though Congress passed the biggest tax overhaul in more than 30 years only a few weeks ago, there’s likely to be more tax-related legislation coming out in the very near future.

Energy lobbyists, who failed to get a range of expired breaks for biofuels to coal-fired power plants into the $1.5 trillion tax overhaul bill making its way through Congress, may get a second chance before the end of the year.

Outgoing Internal Revenue Service Commissioner John Koskinen foresees problems with tax reform if major provisions apply to the current tax year and predicted the agency would need more funding from Congress to implement the legislation if it passes.