• Skip to primary navigation
  • Skip to main content
  • Skip to footer

Subchapter S Bank Association

Join Login
  • Twitter
  • Linkedin
  • YouTube
  • About Us
    • Patrick J. Kennedy, Jr.
  • Register Now for the 2021 Conference!
  • Newsletter
  • Events
  • FAQs
  • Membership
  • Contact Us

February 20, 2015

House Passes Tax Extenders in 2015

On February 13, 2015, the House voted 272 to 142 to adopt the built-in gains tax relief and the charitable contribution basis adjustment for S corporations as part of H.R. 636, the America’s Small Business Tax Relief Act of 2015.

These provisions were originally sponsored by Representatives Dave Reichert (R-WA) and Ron Kind (D-WI) in bills making permanent the five year built-in gains holding period (H.R. 629) and a basis adjustment to ensure S corporations are able to deduct the full value of the stock they donate to charity (H.R. 630). After being adopted by the Committee on Ways and Means, the reforms were combined with a provision to permanently increase the Section 179 expensing limitation as part of H.R. 636. These important reforms received strong bipartisan support. All but one Republican voted for the measure, while 33 Democrats parted with their leadership and the Administration and voted yes. No date has been set by the Senate to take up the measure.

  • Facebook
  • Twitter
  • Pinterest
  • LinkedIn
The American Association of Bank Directors logo

Footer

Subchapter S Bank Association

112 East Pecan St., Suite 2810
San Antonio, TX 78205
Phone: 210-228-9500
Fax: 210-228-0781

Share On

Follow On

Proudly sponsored by the
AABD logo
Click here to learn more or to join the AABD
  • About Us
  • Register Now for the 2021 Conference!
  • Newsletter
  • FAQs
  • Join
  • Contact Us
© 2023. Subchapter S Bank Association. All Rights Reserved.