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Tax provisions in appropriations bills include extenders and repeals

Source: accountingtoday.com - Dec 24, 2019

Last Friday, President Trump signed into law two appropriations bills that extend government funding while also dealing with several of the tax extender provisions and repealing some Obamacare taxes.

Both H.R. 1158, Consolidated Appropriations Act, and H.R. 1865, Further Consolidated Appropriations Act, averted a government shutdown that would have commenced on Dec. 21, 2019 without this sweeping $1.4 trillion spending package being passed into law. Most of the new Act outlines how the government will appropriate the federal budget funding across numerous departments and programs, including the Treasury Department.

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Category: General Business