Daily Tax Update - May 29, 2014: Ways and Means Passes Permanent Bonus Depreciation and Charitable Giving Provisions

THE DAILY TAX UPDATE WILL BE PUBLISHED ON A PERIODIC BASIS UNTIL CONGRESS RETURNS JUNE 9TH

WAYS AND MEANS PASSES PERMANENT BONUS DEPRECIATION AND CHARITABLE GIVING PROVISIONS:  Today, the House Ways and Means Committee approved several tax extenders including a provision to make bonus depreciation permanent and several charitable giving provisions.

MISCELLANEOUS GUIDANCE RELEASED:
Notice 2014-38 modifies and supersedes the appendix to Notice 2013-1, which provides a list of tribes that have settled trust management litigation cases against the United States, because one new tribe had settled a trust management litigation case since the publication of Notice 2013-1.