Bill > HR3942

This bill extends for one year the ability for taxpayers to deduct state and local general sales taxes on their federal income tax returns. The Internal Revenue Code of 1986, which governs federal tax law, currently allows this deduction, but this bill proposes to push back the expiration date of this provision. Specifically, it amends a section of the code by changing the end date from January 1, 2014, to January 1, 2015, meaning this deduction will be available for taxable years beginning after December 31, 2013, and continuing through the end of 2014.