Tax extenders bill passed by Senate and signed into law

[Roland Slugg]

As anticipated, the so-called "Tax Extenders Bill" that was passed by the House on December 15th was sent to the Senate on December 17th where it passed today, December 18th, 65-33. The Bill cleared the Senate with no changes from the House's version, thus avoiding a compromise bill to be negotiated and voted on again. The Bill was then sent to the President, and it was just reported a few minutes before this post that he signed the bill into law.

In another post by this visitor on December 16, 2015, a few of the Bill's most anticipated provisions are mentioned, and a link to the full text of the Bill may also be found there.

[David1980]

As far as the retroactive SSN/ITIN rules on CTC, AOC, EIC - anyone planning to start asking for "date issued" for everyone's SSNs? I could see someone getting a SSN in January and having their taxes done in March and you'd have to know in order to disallow all the credits. Of course, that probably isn't a common scenario. And assuming they filed a return in the prior year the presence of the SSN on the prior year would be a pretty safe bet they had it in the prior year. Still, I might do something for multiple year non-filers.

[TaxGuyBill]

As far as the retroactive SSN/ITIN rules on CTC, AOC, EIC - anyone planning to start asking for "date issued" for everyone's SSNs? I could see someone getting a SSN in January and having their taxes done in March and you'd have to know in order to disallow all the credits. Of course, that probably isn't a common scenario. And assuming they filed a return in the prior year the presence of the SSN on the prior year would be a pretty safe bet they had it in the prior year. Still, I might do something for multiple year non-filers.

The taxpayer just needs to have the SSN/ITIN by the due date of the tax return.

So we would only need to know the date if we are filing overdue returns or amended returns.

[David1980]

The taxpayer just needs to have the SSN/ITIN by the due date of the tax return.

So we would only need to know the date if we are filing overdue returns or amended returns.

That does make it simpler, thanks!

[taxea]

Many of the credits are permanent finally. And now, unfortunately for us Locals the Obama's are on their way to Oahu, again!

[taxea]

As far as the retroactive SSN/ITIN rules on CTC, AOC, EIC - anyone planning to start asking for "date issued" for everyone's SSNs? I could see someone getting a SSN in January and having their taxes done in March and you'd have to know in order to disallow all the credits. Of course, that probably isn't a common scenario. And assuming they filed a return in the prior year the presence of the SSN on the prior year would be a pretty safe bet they had it in the prior year. Still, I might do something for multiple year non-filers.

The way I read it, it certainly sounds like we will have to be very careful about this issue when preparing back returns.

[Jiggers]

Waiting for the official interpretation from The TaxBook and other organizations that I belong to!

[Jiggers]

I am surprised that none of the news services on the internet are carrying information that the prez signed the extender bill.

[taxea]

I am surprised that none of the news services on the internet are carrying information that the prez signed the extender bill.

They are all too busy keeping up with Trump