Congress passed the Protecting Americans From Tax Hikes Act of 2015 last week and the Act was signed into law by the President on Friday, December 18th, 2015.  The law makes some tax provisions permanent and extends other until 2016 or 2019.  Individuals will benefit from the enhanced Child Tax Credit, the enhanced American Opportunity Tax Credit, and the enhanced Earned Income Tax Credit.  Businesses will benefit from extended bonus depreciation and enhanced Section 179 deductions and enhanced Research and Development Credits.  A detailed list of the tax provisions can be found here.  Additional information about individual and business tax provisions can be found here.