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Tax Law Roundup current law developments in U.S. taxation

Tag Archives: Greenbook

IRS Releases FY 2017 Green Book Revenue Proposals

Posted in General, Legislative

It’s that time of year when the President releases his annual wish list of tax revenue proposals, also known as the “Green Book”.  The 2017 Green Book includes many familiar items such as taxing Carried Interests as ordinary income, capping certain itemized deductions by individuals at a 28% tax rate benefit, and broad-based international tax reform. … Continue Reading

President Releases 2014 Greenbook Revenue Proposals

Posted in General, Legislative, Tax reform

On April 10 the President released his long-anticipated “Greenbook” containing his 2014 revenue proposals.  The press release summarizes the various proposals including taxing Carried Interests profits as ordinary income and loosening up FIRPTA restrictions on foreign pension plan investment in US real estate.  See U.S. Secretary of Treasury Jacob Lew testimony and Rep. Camp’s opening statement on… Continue Reading

President Releases 2013 Budget Proposals

Posted in General, Legislative

Today the President announced the new 2013 Budget Proposals (the “greenbook”).  The White House noted that the budget includes many short-term measures for job growth, tax incentives designed to stimulate jobs and innovation, and tax and spending measures designed to lower the deficit.  In total there are over 100 different different revenue and spending proposals. Revenue… Continue Reading

JCT Publishes On-Line Tax Reports Dating Back to 1926

Posted in General, Legislative

The Joint Committee on Taxation (JCT) announced that it has posted to its website, copies of most known JCT publications, dating back to 1926, when the JCT was created.  The postings provide a more complete and searchable set of documents relevant to the evolution of the Internal Revenue Code than previously available.  The publications include… Continue Reading

JCT Report Provides Detail on Obama Tax Proposals

Posted in Green, Legislative, REITs, Tax Exempt

  The Joint Committee on Taxation has issued a 600-page report providing significant detail on the Obama 2012 “Greenbook” tax proposals. Also attached are the excerpts relating to: energy efficient building incentives; carried interest; fractions rule simplification; and partial repeal of the REIT preferential dividends rule. The energy efficient building proposal would convert the existing… Continue Reading