The Tax Increase Prevention Act of 2014 includes the following key provisions:

• Extension of deduction for certain expenses of elementary and secondary school teachers
• Extension of parity for employer-provided mass transit and parking benefits
• Extension of mortgage insurance premiums treated as qualified residence interest
• Extension of deduction of State and local general sales taxes
• Extension of special rule for contributions of capital gain real property made for conservation purposes
• Extension of above-the-line deduction for qualified tuition and related expenses
• Extension of tax-free distributions from individual retirement plans for charitable purposes
• Extension of research credit
• Extension of new markets tax credit
• Extension of work opportunity tax credit
• Extension of bonus depreciation
• Extension of enhanced charitable deduction for contributions of food inventory
• Extension of increased expensing limitations and treatment of certain real property as Code section 179 property
• Extension of temporary exclusion of 100% of gain on certain small business stock
• Extension of second generation biofuel producer credit
• Extension of credits with respect to facilities producing energy from certain renewable resources
• Extension of credit for energy-efficient new homes
• Extension of excise tax credits relating to certain fuels
• Extension of credit for alternative fuel vehicle refueling property
• Extensions relating to multiemployer defined benefit pension plans