Earlier this week, the US House of Representatives passed H.R. 5771, the “Tax Increase Prevention Act of 2014.”  It would generally extend the tax provisions that expired at the end of 2013 for one year, including

  1. write-off of business equipment purchases,
  2. bonus depreciation,
  3. research and development credit, and
  4. tax-free distributions from IRAs to charities for those 70 ½+ up to $100,000.

A list of the provisions along with the 10-year revenue effect are listed in an article by the Tax Foundation.  You can read it here: http://taxfoundation.org/blog/house-passes-one-year-renewal-tax-extenders?mc_cid=916041bf41