The U.S. Department of the Treasury released its General Explanations of the Administration’s FY2015 Revenue Proposals, known as the “Greenbook,” which explains the Administration’s revenue proposals included in the President’s 2015 Budget.
Some important provisions are –
This year’s proposals include a limitation on the accrual of tax-favored retirement benefits (pg. 181);
Mandatory automatic IRAs for employers with more than 10 employees and no retirement plan (pg 141);
Taxing carried interest as ordinary income (pg. 177)
