Tim Sarson (KPMG) reviews the Biden Administration’s FY 2025 tax proposals and the OECD’s new guidance on Amount B of Pillar One.
United States
On 11 March 2024 the US Treasury department released the ‘Green Book’ a 256-page explanation of the tax proposals in the Biden Administration’s FY 2025 Budget.
Most of the Administration’s revenue proposals are familiar having been included in previous budgets. However new announcements have been unveiled in a few areas including proposals to increase the Corporate Alternative Minimum Tax (CAMT) limit depreciation and increase certain fuel taxes for some private planes create a new tax credit for certain first-time homebuyers and modify deadlines for certain information returns.
These proposals as explained in the Green Book would increase and reform corporate taxation as well as increase individual taxes on those with annual earnings exceeding $400 000 (notably including a...
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Tim Sarson (KPMG) reviews the Biden Administration’s FY 2025 tax proposals and the OECD’s new guidance on Amount B of Pillar One.
United States
On 11 March 2024 the US Treasury department released the ‘Green Book’ a 256-page explanation of the tax proposals in the Biden Administration’s FY 2025 Budget.
Most of the Administration’s revenue proposals are familiar having been included in previous budgets. However new announcements have been unveiled in a few areas including proposals to increase the Corporate Alternative Minimum Tax (CAMT) limit depreciation and increase certain fuel taxes for some private planes create a new tax credit for certain first-time homebuyers and modify deadlines for certain information returns.
These proposals as explained in the Green Book would increase and reform corporate taxation as well as increase individual taxes on those with annual earnings exceeding $400 000 (notably including a...
If you or your firm subscribes to Taxjournal.com, please click the login box below:
If you do not subscribe but are a registered user, please enter your details in the following boxes:
