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December 22, 2015
The Protecting Americans from Tax Hikes of 2015 ("PATH Act") is a comprehensive legislative package, which helps to ease the burden on taxpayers by making several expiring provisions permanent and extending other expired provisions for up to five years. Some of the provisions are extended, but subject to modifications or phase-outs. Highlights of the newly signed law are summarized here.
Section 179 depreciation
15-year straight-line recovery period for qualified leasehold improvements, qualified restaurant buildings and improvements and qualified retail improvements
Bonus Depreciation (through 2019)