Internet Tax Freedom Act Extension

Congress Passes Appropriations Bill Including Internet Tax Freedom Act Extension

Congress passed H.R. 83, the “Consolidated and Further Appropriations Act, 2015” on December 13, 2014. By doing so, the Internet Tax Freedom Act was extended through October 1, 2015. The Internet Tax Freedom Act imposes a temporary moratorium on US states from taxing internet access. The Internet Tax Freedom Act also mandates that states are not allowed to place discriminatory taxes on electronic commerce.

The Internet Tax Freedom Act was previously set to expire on November 1, 2014; however, it has been extended by joint resolutions.

The House passed the appropriations bill on December 11, 2014. The Senate passed the appropriations bill on December 13. The Act is inclusive of several pension reform provisions. H.R. 83 contains items of multi-employer pension reform as well as an exclusion from provisions of the Affordable Care Act for expatriate health plans.

The bill is pending the President’s signature. It is expected that it will be signed into law.

Congress Passes Tax Extender Package and ABLE Legislation
On December 16, 2014, the Senate passed the tax package, H.R. 5771, the “Tax Increase Prevention Act of 2014.” H.R. 5771 was passed by the House on December 3, 2014.

The “Tax Increase Prevention Act of 2014” extends over 50 currently expired “extender” provisions. It is inclusive of H.R. 647, the “Achieving a Better Life Experience (ABLE) Act of 2014”, which establishes a new type of tax-advantaged savings program for individuals with disabilities. It also provides a number of other non-extender tax changes.

The bill will be sent to the President for his signature. The expectation is that these tax provisions will be quickly signed into law.

For More Information
If you are interested in learning more about this topic or other tax topics, please visit our Tax Publications under News and Events.

How Can We Help?
Allyn’s tax team is staffed with seasoned tax professionals experienced in all aspects of Federal, multi-state and local tax compliance and consulting for large US and global corporations. We use that experience to your advantage. Contact us and we can provide a customized cost-effective solution to meet your company’s needs. For further information on Allyn Tax services, please contact: tax@allynintl.com.