Joint Committee on Taxation (JCT) describes international tax proposals in White House budget package

The Joint Committee on Taxation (JCT) staff September 14 released descriptions of the international tax proposals in the fiscal 2010 budget package that President Obama sent to Congress in May. These proposals address, among other things, deferral of foreign business income, hybrid entities, the qualified intermediary program, cross-border transfers, and tax compliance and enforcement issues related to offshore accounts and entities.

Descriptions of the business individual tax proposals in the president's budget were released last week.

The JCT staff routinely issues descriptions of tax provisions in presidential budget proposals. These documents are among the many resources that members of Congress and their staffers may consult as they develop tax legislation.