Obama Unveils $3.83 Trillion Budget and Tax Proposal Package

by

Via CCH

On February 1st, President Obama presented to Congress his fiscal year 2011 federal budget proposal which included various tax provisions.  Some of the highlights include:

  • – Extended Making Work Pay Credit
  • – 2010 Bonus Depreciation/Expensing
  • – Higher Child Care Credit
  • – Reinstatement of Top Tax Rates
  • – Tax-Free Small Business Stock
  • – $5,000 Employee Hiring Credit
  • – Sweeping International Tax Reforms
  • – Enhanced Information Reporting
  • – Reinstated Estate Tax

Although the final details have yet to be worked out, CCH has provided a good analysis of the proposal as it stands now.

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