Does anybody know what the status is of the tax extender bill that affects 2023 returns

[joel727]

tax extender bill

[sjrcpa]

Status quo - nothing has happened.

[joel727]

What are you doing about business clients that acquired new assets in 2023 whether to take the 80% or the proposed hundred percent for special depreciation

[IRonMaN]

Kind of hard to take a deduction for something that isn’t current law.

[TaxGuyBill]

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@joel727 wrote:

What are you doing about business clients that acquired new assets in 2023 whether to take the 80% or the proposed hundred percent for special depreciation

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I discuss the options with the client: (a) Use Section 179 (if it is able to be used), (b) File now with 80% and they would potentially need to pay me to amend if Congress retroactively changes it, or (c) Wait a few more weeks to file to see if Congress does anything about it.