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The Covid relief bill will keep these tax breaks around even longer

Source: cnbc.com - Jan 5, 2021

Taxpayers will have another shot at a package of tax breaks that would have otherwise expired at the end of 2020.

That’s because when lawmakers hammered out the 5,593-page Covid relief act, they resurrected a basket of deductions and credits — known as tax extenders — that were about a week away from lapsing.

In all, 33 measures were set to expire at the end of 2020, ranging from a break on racehorses to a tax credit for two-wheeled electric vehicles.

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Category: General Business