Obama’s Final Budget Contains Far-Reaching Tax ProposalsFebruary 17, 2016
On Feb. 9, President Obama released his federal budget proposals for the 2017 fiscal year. The US Treasury Department’s “General Explanations of the Administration’s Fiscal Year 2017 Revenue Proposals” (the so-called “Greenbook”) was released later that day. New proposals in the budget include dramatically altering the way capital gains are taxed, largely eliminating “stepped up” basis, modifying two key provisions in the Affordable Care Act, and providing a number of incentives to encourage retirement savings and expand access to savings programs….Read the Full Article in the Accounting Web.
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