Bloomberg BNA Announces Support of PATH Act

Bloomberg BNA’s popular BNA Income Tax Planner (version 2015.3) software has been updated to support the recently approved Protecting Americans from Tax Hikes (PATH) Act of 2015. This Act extends or makes permanent the individual tax breaks that have been considered temporary, but that Congress repeatedly renews.

Many changes and extensions of the PATH Act of 2015 have been incorporated into the new version of BNA Income Tax Planner. They range from the permanency of the Child Tax Credit, the American Opportunity Tax Credit, and the Earned Income Tax Credit to the contribution of capital gain property for conservation purposes and the deduction for state and local general sales taxes. The support also extends to the deduction of mortgage insurance premiums and qualified tuition and related expenses retroactively through 2016.  

“The latest version of our income tax planning software enables tax and accounting professionals to provide seamless services that reflect the new law’s changes and extensions,” said Ken Crutchfield, Vice President of Bloomberg BNA’s software products. “We have monitored the progress of the legislation from the initial discussions to the President’s signature to ensure our clients have highly accurate planning software in a timely manner. BNA Income Tax Planner has been updated, tested, and is ready for immediate access.”