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The Tax Increase Prevention Act of 2014

By Richard H. Stieglitz and Nichol Chiarella
January 31, 2015

On Dec. 19, 2014, the President signed into law the long-awaited year-end tax package, the Tax Increase Prevention Act of 2014 (TIPA). This law extended to the end of 2014 many but not all of the individual, business, and energy provisions that expired at the end of 2013. In addition, the law provides for a new tax-advantaged savings program to aide in meeting the financial needs of disabled individuals, called the ” Achieving a Better Life Experience” (ABLE) program, as well as several other miscellaneous provisions.

Business Provisions Advantages of 2014

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