House Votes For Bare-Minimum Tax Break Extension Reports Sigma Tax Pro

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The House of Representatives voted to keep lapsed tax breaks for 2014 but no agreement has been reached for 2015.

Sigma Tax Pro
Many of our clients are relieved that they now know what the 2014 tax season will look like, but they still want a long-term solution to the problem.

The so-called bare minimum package was finally agreed upon by the House of Representatives. This will avoid delaying tax refunds and disadvantaging taxpayers in the coming tax season. The House voted 378-46 to approve the measure, which provides $42 billion in relief to taxpayers. The Senate will not amend the bill so there will be a simple up or down vote to decide. This also comes as a welcome relief to tax professionals across America who have been waiting to hear the outcome of this decision.

However, as Jody Dovich at Sigma Tax Pro explains, this still leaves uncertainty in the future for taxpayers and tax pros alike. "Many of our clients are relieved that they now know what the 2014 tax season will look like, but they still want a long-term solution to the problem," states Jody Dovich. President Obama has said he is also open to the short-term bare minimum option but has not confirmed whether or not he will sign the bill if the Senate votes in favor.

Sigma Tax Pro provides a full range of essential services for tax pros. This includes industry leading software solutions as well as technical support, tax preparation support and client retention strategies. Sigma Tax Pro specializes in helping tax preparation firms expand their businesses, open new offices and increase their client base. Sigma is also reminding all tax pros to check that their EFIN and PTIN numbers are up to date for the coming tax season.

Get more information at SigmaTaxPro.com.

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Jody Dovich
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