On 16 December 2014, Bill H.R. 5771 was passed by the U.S. Senate and was presented to the President for signature on 19 December. The Bill was passed by the House of Representatives on 3 December. The Bill, known as the Tax Increase Prevention Act of 2014, extends for one year over 70 tax provisions that expired either the end of 2013 or during 2014. Some of the key provisions related to business taxation that will be extended include: The R&D tax credit - a 20% credit for qualified research expenses or a 14% alternative simplified credit Bonus depreciation -...