Overview
Finance Committee Markup of Tax Extenders Set for July 21: The Senate Finance Committee announced today that it has scheduled a markup of a bill to extend certain expired tax provisions for two years, through December 31, 2016. The bill includes extension of the research and development credit, the state and local tax deduction, 50%bonus depreciation, and the renewable electricity production tax credit.
Miscellaneous Guidance:
Revenue Ruling 2015-16 provides various prescribed rates for federal income tax purposes.