A Look Inside the Green Book: The President’s Budget Proposals

The American Tax Payer Relief Act of 2012 (ATRA) was passed on New Year’s Day 2013, and established the first permanentset of estate, gift and generation skipping transfer (GST) tax provisions in 12 years.  Each year, the administration puts forth tax proposals that may change the current law. This article provides a quick summary of several of the latest revenue proposals submitted by the Obama administration that might affect individual taxpayers and future estate and tax planning strategies.