Access Leading Tax Experts And Technology
In Our Global Digital Marketplace

Please Type Topic Into Search Bar

What is the status on Capitol Hill in connection to The Trade Preferences Extension Act of 2015?

Legislative Analysis The Trade Preferences Extension Act of 2015
TaxConnections Members... Answer This Question Want To be One of Our Tax Experts? Register Here

Tax Professional Answers

User Photo
Peter J. Scalise
On Monday, June 29th of 2015 President Obama signed into law H.R. 1295 entitled “The Trade Preferences Extension Act of 2015” (hereinafter “TPEA”) which not only extended a trade deal between the U.S. and sub-Saharan Africa but also included a number of tax-related provisions within the bill in connection to the Health Coverage Tax Credit (e.g., claimed on IRS Form 8885); the American Opportunity and Lifetime Learning Tax Credits (e.g., claimed on IRS Form 8863); and the Hope Scholarship Tax Credit (e.g., claimed on IRS Form 8863).

As a legislative synopsis from the Hill, the Senate approved TPEA by unanimous consent on June 24th of 2015 and within twenty four hours the House of Representatives on June 25th approved TPEA by a 286-to-138 margin. “I thought I’d start off the week with something we should do more often, a truly bipartisan bill signing,” President Obama said in a crowded East Room ceremony. Additionally, President Obama used the signing ceremony to push for further bipartisan legislation, particularly for a massive infrastructure bill that would help build new highways, airports and shipping ports.

The TPEA legislation can be accessed through the subsequent link at: www.congress.gov/bill/114th-congress/house-bill/1295
Leave a Comment 274 weeks ago


Meet Leading Tax Advisors

User Photo John Stancil

Professor

Lakeland

User Photo Peter J. Scalise

Federal Tax Credits & Incentives Practice Leader

New York, NY

User Photo John Dundon, II EA

Tax Director

Denver, CO

User Photo William Rogers, CFP, MBA, EA

CEO/Certified Financial Advisor

Rancho Santa Fe, CA

User Photo Monika Miles

President

San Jose, CA

User Photo Blake Christian

Tax Partner

Long Beach/ Park City, CA

User Photo John Richardson

Lawyer

Toronto, Canada

 

View/Select our Current List of Tax Topics

# A B C D E F G H I J K L M N O P Q R S T U V W X Y Z

Previous PageNext Page

INCREASE KNOWLEDGE WITH EVERY ISSUE OF TAXCONNECTIONS

 

Learn from tax advisors, straight to your inbox

Update My Email Address
Contact Us Today