American Horse Council's Tax Bulletin

AHC’s January 2015 Tax Bulletin is available for download.

The American Horse Council’s January 2015 Tax Bulletin is available.

The American Horse Council’s January 2015 Tax Bulletin is available for download. The January 2015 Tax Bulletin includes a variety of topics – Congress passing and the president signed into law a bill extending expired tax provisions and the IRS implementing its new Appeals Judicial Approach and Culture Project.

Congress Passes and President Signs Bill Extending Expired Tax Provisions Through 2014
By Thomas A. Davis, Esq., Davis & Harman LLP, Washington, D.C.

Just before closing down for the year, Congress passed and the president signed into law a bill that extends several tax provisions favorable to horse owners, breeders and equine businesses that had expired or were reduced at the end of 2013. The bill, often referred to as the "extenders bill," extends these provisions retroactively for eligible equine assets, including horses, placed in service at any time during 2014.  The extensions are effective only through December 31, 2014.  On January 1, 2015, they again expire or revert to prior levels.  The provisions that were extended are discussed below.

Click here to download the January 2015 Tax Bulletin

IRS Implements Its Appeals Judicial Approach and Culture ("AJAC") Project
By B. Paul Husband, Esq, Husband Law Group, Universal City, CA

IRS examinations (audits) will grow longer and more expensive under the new Appeals Judicial Approach and Culture Project (AJAC), which became effective September 2, 2014.  Under AJAC, IRS administrative appeals will be more difficult to access.

Click here to download the January 2015 Tax Bulletin

AHC's Tax Bulletin, Sponsored by Zoetis
The American Horse Council keeps you up to date with the electronic Tax Bulletin that reports on congressional action and other important issues affecting the industry. The Tax Bulletin is a member benefit and is not intended for reproduction. For more information on federal legislation, equine health and regulatory issues, taxes, animal welfare, racing, recreation and showing, please visit the AHC website, www.horsecouncil.org.

For more information on the American Horse Council or to view the 2015 January Tax Bulletin, visit www.horsecouncil.org.