The greenbook released by the Obama administration on Monday includes a number of proposals of special interest to tax preparers.
The Treasury Departments greenbook, which contains a general explanation of the administrations fiscal year 2010 revenue proposals, expands the requirements for electronic filing by tax return preparers, along with setting out other provisions for the administrations budget (see Obama Proposes Billions in Tax Cuts and Tax Hikes). The proposal generally would maintain the current rule that regulations may not require any person to file electronically unless the person files at least 250 tax returns during the calendar year, but the proposal also would provide an exception to this rule under which regulations may require electronic filing by tax return preparers (as currently defined in the Tax Code) who file more than 100 tax returns in a calendar year.
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