Tax season tips: All you need to know about the new tax extender legislation

New York Daily News

The official start of tax season on Jan. 19 — when the IRS begins to accept returns — means it’s that time of the year again when we as Americans get ready to focus on filing our taxes. We frantically struggle to gather all our information so we can accurately piece together our tax information and know what we can and cannot deduct for 2015. Congress has reached an agreement on what they call "Tax Extenders" and introduced legislation aptly named "Protecting Americans from Tax Hikes Act of 2015.” To much surprise, some of these tax extenders were made permanent, while others were just extended for a period of time. Some of these key provisions were also modified and/or added as to prevent tax fraud, which has been increasing dramatically for the past few years.