Tax Relief Extension Act of 2003

S. 1175-First-Time Homebuyers' Tax Credit Act would allow first-time homebuyers to receive a tax credit of up to #3000 for individuals or $6000 for married couples. S. 1175 allows individuals or couples in the 25% or lower tax brackets to take a tax credit on the purchase of their principal residence. H.R. 1336/S. 846-Mortgage Insurance Fairness Act would Amend the IRS code of 1986 to classify mortgage insurance premiums as residence interest, allowing for it to be tax deductible. H.R. 1634/S. 576-Business Property Economic Revitalization Act would shorten the tax depreciation life, on non-residential property, from 39 years to 10 years. S. 1918-would allow money given for the purpose of downpayment assistance to qualified organizations to be considered as charitable donations on tax returns. H.R. 22-The Individual and Small Business Tax Simplification Act of 2003 would amend the IRS Code to simplify certain provisions and establish a uniform pass-thru regime. H.R. 2896/H.R. 4520-American Jobs Creation Act would reduce the depreciation period for leasehold improvements from 39 years to 15 years, and extend the 50% bonus depreciation until December 2005. H.R. 3521/S. 1896-Tax Relief Extension Act would extend a number of expiring tax provisions, including the brownfield clean up deduction. S. 597-The bill would create tax incentives for property owners and landlords who made their properties more energy efficient. H.R. 666-Mortgage Cancellation Relief Act would grant relief from the discharge of indebtedness rules for sales of residences. H.R. 839/S. 875/S. 198-REnewing the Dream Tax Credit Act would allow developers and investors who construct or rehabilitate housing for low- and moderate-income families for purchase to claim a tax credit up to 50% of the cost over a five-year period. H.R. 4221-This bill would reduce the depreciation recapture tax rate from the current 25% down to 15%. S. 150/S. 2084-These bills would extend the moratorium that bars state and local governments from imposing multiple and discriminatory taxes on internet access. Treasury Department's Fiscal Year 2005 Budget proposal to "close loopholes, halt several abusive tax avoidance transactions, and simplify the tax code."

Client expense: $60,000 · Firm income: Not reported

Government targets: Defense, Dept of (DOD), Federal Communications Commission (FCC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of

TAX Applying Payroll Taxes to Stock Options (H.R. 286 and S. 206) TAX Elimination of Double Taxation of Dividends (H.R. 178, H.R. 225, H.R. 226 and H.R. 326) TAX Federal Tax Reform – National Sales Tax (H.R. 278) TAX Work Opportunity/Welfare to Work Tax Credits (H.R. 3521 and S. 1896)

Client expense: $100,000 · Firm income: Not reported

Government targets: Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE

H.R. 2 - Jobs and Growth Tax Relief Reconciliation Act of 2003. Annuities fix. H.R. 8 - Death Tax Repeal Permanency Act of 2003. Estate tax. H.R. 51 - Family Heritage Preservation Act. Estate tax. H.R. 57 - Death Tax Permanency Act of 2003. Estate tax. H.R. 139 - Permanent Death Tax Repeal Act of 2003. Estate tax. H.R. 158 - To make the repeal of the estate tax permanent. Estate tax. H.R. 210 - To amend the Internal Revenue Code of 1986 to accelerate the individual income tax rate cuts made by the Economic Growth and Tax Relief Reconciliation Act of 2001 and to make permanent all tax cuts made by that Act. Estate tax. H.R. 407 - To repeal the sunset of the provisions of the Economic Growth and Tax Relief Reconciliation Act of 2001. Estate tax. H.R. 414 - Life Insurance Employee Notification Act. The nondisclosure of employer-owned life insurance coverage of employees. H.R. 432 - To amend chapters 83 and 84 of title 5, United States Code, to provide for the indexation of deferred annuities; to provide that a survivor annuity be provided to the widow or widower of a former employee who dies after separating from Government service with title to a deferred annuity under the Civil Service Retirement System but before establishing a valid claim therefor, and for other purposes. To provide for the indexation of deferred annuities; to provide that a survivor annuity be provided to the widow or widower of a former employee who dies after separating from Government service with title to a deferred annuity under the Civil Service Retirement System but before establishing a valid claim therefor. H.R. 808 - Life Insurance Tax Simplification Act of 2003. Repealing Sections 809 and 815. H.R. 1612 - To make permanent the tax benefits enacted by the economic Growth and Tax Relief Reconciliation Act of 2001. Estate tax. H.R. 2127 - Taxpayer Savings and Employee Notification Act of 2003. Protect tax benefits relating to company-owned life insurance. H.R. 2228 - To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies. Permitting consolidated returns. H.R. 2458 - Secure Annuity Income for Life Act of 2003. To exclude from gross income a percentage of lifetime annuity payments. H.R. 2477 - To amend the Internal Revenue Code of 1986 to increase the exclusion equivalent of the unified credit allowed against the estate tax to $7,500,000 and to modify the estate tax rate schedule. Estate tax. H.R. 2480 - To amend the Internal Revenue Code of 1986 to reduce estate and gift tax rates to 30 percent, to increase the exclusion equivalent of the unified credit to $10,000,000, and to increase the annual gift tax exclusion to $50,000. Estate tax. H.R. 2481 - Estate Tax Reduction Act of 2003. Estate tax. H.R. 2502 - Estate Tax Relief Act of 2003. Estate tax. H.R. 2513 - Estate Tax Repeal for Family-Owned Farms and Businesses Act of 2003. Estate tax. H.R. 2532 - Save Social Security First Act of 2003. Estate tax. H.R. 2610 - To amend the Internal Revenue Code of 1986 to restore the estate tax and repeal the carryover basis rule, to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, and to reduce the rate of the estate and gifts taxes to the generally applicable capital gains income tax rate. Estate tax. H.R. 2682 - Estate Tax Reduction Act of 2003. Estate tax. H.R. 2896 - American Jobs Creation Act of 2003. International issues, corporate-owned life insurance, non-qualified deferred compensation. H.R. 3521 - Tax Relief Extension Act of 2003. To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. Section 809 repeal. S. 2 - Jobs and Growth Tax Relief Reconciliation Act of 2003. Repealing Sections 809 and 815, non-qualified deferred compensation, Edwards corporate-owned life insurance amendment, annuities. S. 13 - Death Tax Fairness Act of 2003. Estate tax. S. 34 - Estate Tax Repeal Acceleration (ExTRA) for Family-Owned Businesses and Farms Act. Estate tax. S. 96 - Contract With Investors. Estate tax. S. 135 - Dayton Fair Tax Cut Act. Estate tax. S. 169 - Permanent Death Tax Repeal Act of 2003. Estate tax. S. 992 - Life Insurance Tax Simplification Act of 2003. Repealing Sections 809 and 815. S. 1054 - Jobs and Growth Tax Relief Reconciliation Act of 2003. Repealing Sections 809 and 815, non-qualified deferred compensation, Edwards corporate-owned life insurance amendment, annuities. S. 1475 - Promote Growth and Jobs in the USA Act of 2003. Competitiveness of American business, international tax issues. S. 1495 - To amend the Internal Revenue Code of 1986 to permit the consolidation of life insurance companies with other companies. Permitting consolidated returns. S. 1596 - Tax Relief Extension Act of 2003. To provide extensions for certain expiring provisions of the Internal Revenue Code of 1986, and for other purposes. Section 809 repeal. S. 1637 - Jumpstart Our Business Strength (JOBS) Act. To amend the Internal Revenue Code of 1986 to comply with the World Trade Organization rulings on the FSC/ETI benefit in a manner that preserves jobs and production activities in the United States, to reform and simplify the international taxation rules of the United States, and for other purposes. National Employee Savings Trust Equity Guarantee Act - Senate Pension bill, no bill number yet.

68 Fed. Reg. 70,388 Investment Company Act, proposed amendments H.R. 1776 Portman-Cardin Pension Reform Bill H.R. 2036 Social Security Number Privacy and Identity Theft Prevention Act of 2001 H.R. 2673 Agriculture, Rural Development, Food and Drug Administration, and Related Agencies Appropriations Act H.R. 2896 American Jobs Creation Act of 2003, Sec. 1091, 1092, 1093 H.R. 2989 Transportation/Treasury Appropriations Bill H.R. 3108 Pension Stability Act H.R. 3521 Tax Relief Extension Act of 2003 H.R. 3574 Stock Option Accounting Reform Act JCX-78-03 National Employee Savings and Trust Equity Guarantee Act S. 1890 Stock Option Accounting Reform Act Section 645 EGTRRA, Annuity Start Date

Client expense: $180,000 · Firm income: Not reported

Government targets: Centers For Medicare and Medicaid Services (CMS), Congressional Budget Office (CBO), Council of Economic Advisers (CEA), Equal Employment Opportunity Commission (EEOC), Executive Office of the President (EOP), Federal Trade Commission (FTC), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Pension & Welfare Benefits Administration, Pension Benefit Guaranty Corporation (PBGC), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of, White House Office

Issues relating to pension and retirement plans, including pension reform legislation (H.R.1776; H.R.1000; The National Employee Savings and Trust Equity Guarantee Act); pension funding legislation (H.R.3108, H.R.3521).

Client expense: Not reported · Firm income: $20,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

Pension funding legislation (H.R.3108; H.R.3521; The National Employee Savings and Trust Equity Guarantee Act).

Client expense: Not reported · Firm income: $40,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S. 1175 - First-Time Homebuyers' Tax Credit Act would allow first-time homebuyers to receive a tax credit of up to $3000 for individuals or $6000 for married couples. S. 1175 allows individuals or couples in the 25% or lower tax brackets to take a tax credit on the purchase of their principal residence. H.R. 1336/ S. 846 - Mortgage Insurance Fairness Act would Amend the IRS code of 1986 to classify mortgage insurance premiums as residence interest, allowing for it to be tax deductible. H.R. 1634/ S. 576 - Business Property Economic Revitalization Act would shorten the tax depreciation life, on non-residential property, from 39 years to 10years. S. 1918 - This bill would allow money given for the purpose of downpayment assistance to qualified organizations to be considered as charitable donations on tax returns. H.R. 22 The Individual and Small Business Tax Simplification Act of 2003 would amend the IRS Code to simplify certain provisions and establish a uniform pass-thru regime. H.R. 2896 - American Jobs Creation Act would reduce the depreciation period for leasehold improvements from 39 years to 15 years, and extend the 50% bonus depreciation until December 2005. H.R. 3521/ S. 1896 - Tax Relief Extension Act - These bills would extend a number of expiring tax provisions, including the brownfield clean up deduction. S. 597 - The bill would create tax incentives for property owners and landlords who made their properties more energy efficient. H.R. 666 - Mortgage Cancellation Relief Act would grant relief from the discharge of indebtedness rules for sales of residences. H.R. 839/ S. 875 - Renewing the Dream Tax Credit Act would allow develpers and investors who construct or rehabilitate housing for low- and moderate-income families for purchase to claim a tax credit up to 50% of the cost over a five-year period. The Jobs and Growth Tax Relief Reconciliation Act that was designed to provide tax cuts to individuals and to businesses as an incentive for greater investment and economic activity.

HR 3108, The Pension Stability Act. HR 3521, Extendes Bill. HR 2989, Treasury Appropriations, Cash Balance Plans. S. 1958, Mutual Fund Investor Protection Act. S. 1912, Retirement Account Portability

Client expense: $160,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE