On December 20, President Donald Trump signed into law the Taxpayer Certainty and Disaster Tax Relief Act of 2019 (the Act). The new legislation retroactively resurrects and/or extends a bunch of individual and business federal income tax breaks, which we will call the extenders. The extensions generally go through 2020. This column covers what you need to know about the extenders that are most likely to help individual taxpayers.
You may have to amend your 2018 return to fully cash in