2014 Tax Extenders Passes Congress, Moves to White House

On December 16, 2014, the US Congress passed a much anticipated 2014 tax extenders bill that includes provisions for reinstating 50% bonus depreciation and increasing Section 179 back to 2013 limits of $500,000.

The bill still needs signed into law by Obama, but he is expected to do so.

See here for a more in-depth discussion.