President Obama released a fiscal year 2015 budget proposal on March 4th of 2014 that includes tax increases primarily targeting multinational corporations and high-income individuals to pay for lower- and middle-class tax relief, increased spending on transportation infrastructure, and deficit reduction. As part of that process, the White House also released what’s known as the “Green Book,” which provides the Treasury Department’s explanations of the revenue provisions in the budget proposal.

Key Provisions Affecting Individual & Corporate Tax Consequences

While the tax section of the President’s budget renews a number of provisions from his previous annual submissions, it does include some new and noteworthy revenue raisers, such as proposals to: Read More