A brief checklist and review of expiring tax legislation
Several significant tax law changes took effect in 2016 that may affect your business's federal tax filings in 2017. These range from routine changes of administrative filing deadlines to the permanent extension of the credit for increasing research and development expenditures.
As the year draws to a close, taxpayers should review these changes in light of projected taxable income or loss from their businesses to see if there are tax planning opportunities that will yield immediate and future tax benefits.