IRS commissioner John Koskinen said in a letter to Senate Finance Committee chairman Ron Wyden: “It would be detrimental to the entire 2015 tax filing season and to millions of taxpayers if Congress fails to provide a clear policy direction before the end of November.”
The production tax credit (PTC) and investment tax credit (ITC) were among about 50 tax breaks that expired in 2013.
In April the finance committee approved a tax-extenders bill, which was later delayed by unrelated procedural issues in the Senate
“The IRS is currently facing a great deal of uncertainty related to the expired provisions, which raises serious operational and compliance risks,” said Koskinen, who sent similar letters to Senator Orin Hatch and Congressmen Dave Camp and Sander Levin.
The legislation is unlikely to be reconsidered until after the US general elections on 4 November 2014.
