Congress Returns with Tax ‘Extenders’ Fate Uncertain

BOMA San Francisco Members:

With Congress returning to Washington this week and next, the fate of the tax "extenders" package remains in doubt. In 2011, Congress failed to extend a package of expiring tax provisions, which includes the 15–year timeline for depreciating leasehold improvements. Building owners must now return to the 39–year schedule unless Congress passes legislation to apply the reduced timeline to 2012 and beyond.

At this point the timeline for consideration is uncertain, and being an election year it’s conceivable that Congress could wait until after the November election to address these tax provisions, as they did in 2010.