50 tax breaks that expired in 2013

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  • November 9, 2014 at 10:30 am #189902
    krokofilen
    Member

    So the NINJA MCQ database keeps giving you this disclaimer:

    “Be aware that more than 50 tax breaks that expired in 2013 have not been extended to 2014 as of the July 2014 publication date of this review; they are currently in the U.S. Senate awaiting approval.”

    Can someone explain to me what this means?

    I assume this is important to know (may even be subject to questions on the exam) if taking the exam in the fall of 2014?

    Big 4 Audit Manager from Europe here to pass the CPA in the U.S. of A in 2014! Niiice!

    AUD - 95 / Jul 15 / 130h over 4 weeks
    FAR - 86 / Aug 14 / 240h over 4 weeks
    (11 week break)

    REG - 81 / Nov 14 / 200h over 4 weeks
    BEC - 87 / Nov 17 / 30 h over 2.5 days

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  • November 9, 2014 at 12:06 pm #617264
    Anonymous
    Inactive

    Given that the law for filing for 2014 taxes won't be final till tax season starts, I'm 99% sure that the exam doesn't start testing 2014 tax law in 2014, but I don't remember for 100% certain.

    November 9, 2014 at 2:52 pm #617265
    soyanks
    Member

    They don't test you on tax breaks or any tax related questions where the amount or the subject changes year after year.

    FAR - 86
    REG - 85
    BEC - 90
    AUD - 84

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