AMT Credit Fairness and Relief Act of 2007

HR 3861 - AMT Credit Fairness and Relief Act of 2007

Client expense: Not reported · Firm income: $50,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of

Monitored and reacted to proposals tied to the federal excise tax on communications which is unfairly applied to different communications services, the federal estate tax, which prohibits the transfer of rural telcos and other rural assets to heirs, and other taxation initiatives that may help or hinder the operations of rural community-based communications providers. Also focused attention on the full implementation of the Sarbanes-Oxley statute that has the potential to create many financial burdens on small business entities such as rural communications providers. During the reporting period the association focused particular attention on the following: Miscellaneous Tax: H.R. 3861-To amend the Internal Revenue Code of 1986 to increase the AMT refundable credit amount for individuals with long-term unused credits for prior year minimun tax liability-all sections. H.R. 3996-To amend the Internal Revenue Code of 1986 to extend certain expiring provisions-all sections. Also the resolution for consideration, H. Res. 809. H.R. 5558-To limit the discriminatory taxation of oil pipeline property-all sections. H.R. 6049-To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, and to provide individual income tax relief-sections relating to tax expirations affecting small businesses and NTCA. benefit plans. S. 2342-To amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for 2007 and to provide special tax rates for certain capital gains and qualified dividend income for 2007-all sections. S. 2389-To amend the Internal Revenue Code of 1986 to increase the alternative minimum tax credit amount for individuals with long-term unused credits for prior year minimum tax liability-all sections. Federal Excise Tax: H.R. 1194-To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services-all sections. H.R. 3997-To amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnal-all sections. H.R. 5793-To restrict any state or local jurisdiction from imposing a new discriminatory tax on cell phone services, providers, or property-all sections. H.R. 6081-To amend the Internal Revenue Code of 1986 to provide benefits for military personnel-all sections. S. 140-To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services-all sections. S. 166-To restrict any state from imposing a new discriminatory tax on cell phone services-all sections. S. 170-To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services-all sections.

Monitored and reacted to proposals tied to the federal excise tax on communications which is unfairly applied to different communications services, the federal estate tax, which inhibits the transfer of rural telcos and other rural assets to heirs, and other taxation initiatives that may help or hinder the operations of rural community-based communications providers. Also focused attention on the full implementation of the Sarbanes-Oxley statute that has the potential to create many financial burdens on small business entities such as rural communications providers. During the reporting period, the association focused particular attention on the following: Miscellaneous Tax: H.R. 3861 To amend the Internal Revenue Code of 1986 to increase the AMT refundable credit amount for individuals with long-term unused credits for prior year minimum tax liability all sections. H.R. 3996 To amend the Internal Revenue Code of 1986 to extend certain expiring provisions all sections. Also the resolution for consideration, H. Res. 809. H.R.6049 To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, and to provide individual income tax relief sections relating to tax expirations affecting small businesses and NTCA benefit plans. S. 2342 To amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for 2007 and to provide special tax rates for certain capital gains and qualified dividend income for 2007 all sections. S. 2389 To amend the Internal Revenue Code of 1986 to increase the alternative minimum tax credit amount for individuals with long-term unused credits for prior year minimum tax liability all sections. Federal Excise Tax: H.R. 1194 To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services all sections. H.R.3997 To amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnel all sections. H.R.5793 To restrict any State or local jurisdiction from imposing a new discriminatory tax on cell phone services, providers, or property all sections. H.R.6081 To amend the Internal Revenue Code of 1986 to provide benefits for military personnel all sections. S. 140 To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services all sections. S.166 To restrict any State from imposing a new discriminatory tax on cell phone services all sections. S. 170 To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services all sections. S.3249 A bill to restrict any State or local jurisdiction from imposing a new discriminatory tax on mobile wireless communications services, providers, or property all sections.

Shareholder Votes on Executive Compensation Act - H.R. 1257 Tax Equity for Health Plan Beneficiaries Act of 2007 - H.R. 1820 Pension Security Act of 2007 - H.R. 2683 Lilly Ledbetter Fair Pay Act of 2007 - H.R. 2831 Federal Aviation Administration (FAA) Reauthorization Act (benefits provisions) - H.R. 2881 Tax Collection Responsibility Act of 2007 - H.R. 3056 401 (k) Fair Disclosure for Retirement Security Act - H.R. 3185 ADA Restoration Act of 2007 - H.R. 3195 Mutual Fund Fee Reform Act H.R. 3225 Pension Protection Technical Corrections Act of 2007 - H.R. 3361 Long-Term Care Affordability and Security Act of 2007 - H.R. 3363 Protecting Employees and Retirees in Business Bankruptcies Act of 2007 - H.R. 3652 Defined Contribution Plan Fee Transparency Act of 2007 - H.R. 3765 AMT Credit Fairness and Relief Act - H.R. 3861 Tax Reduction and Reform Act of 2007 - H. R. 3970 The Temporary Tax Relief Act of 2007/Tax Increase Prevention Act of 2007 - H.R. 3996 Defenders of Freedom Tax Relief Act of 2007/Heroes Earnings Assistance and Tax Relief Act of 2007 - title as passed - H.R. 3997 AMT Relief Act of 2007 - H.R. 4351 The Small Business Add Value for Employees (SAVE) Act of 2008 - H.R. 5160 Energy and Tax Extenders Act - H.R. 6049 Heroes Earnings Assistance and Relief Tax Act - H.R. 6081 Roadmap for America's Future Act of 2008 - H.R. 6110 Pension Protection Act ERISA Amendments of 2008 - H.R. 6143 ERISA Amendments - H.R. 6142 Pension Protection Technical Corrections Act of 2008 - H.R. 6382 Senate Tax Equity for Domestic Partner and Health Plan Beneficiaries Act - S. 1556 Defenders of Freedom Tax Relief Act of 2007 - S. 1593 Alternative Investments, Amending Internal Revenue Code provisions taxing partnerships involving alternative investments - S.1624 Restoring Pension Promises to Workers Act - 1725 Fair Pay Restoration Act - S. 1843 Americans with Disabilities Act Restoration Act of 2007 - S. 1881 Pension Protection Technical Corrections Act of 2007 - S. 1974 Independent Contractor Proper Classification Act of 2007 - S. 2044 Protecting Employees and Retirees in Business Bankruptcies Act of 2007 (S. 2092) Offshore Deferred Compensation Reform Act of 2007 - S. 2199 Long-Term Care Affordability and Security Act of 2007 - S. 2337 Defined Contribution Fee Disclosure Act of 2007 - S. 2473 AMT Credit Fairness and Relief Act - S. 2389 Incentives for Older Workers Act - S. 2933 Alternative Minimum Tax and Extenders Tax Relief Act of 2008 - S. 3098 Title VII Fairness Act - S. 3209 Regulatory - communication with covered federal officials on legislative issues. Legislation - The Pension Protection Act Technical Corrections (PPA) - H.R. 3361/H.R. 6382//S. 1974 DOL proposed 408(b)(2) regulations for fee disclosure requirements DOL - 401 (k) fee disclosure (H.R. 3185/H.R. 3765/S. 2473) Treasury/IRS hybrid plan hearing Treasury/IRS guidance on 409A and deferred compensation Treasury/IRS hearing on measurement of pension plan assets and liabilities

Monitored and reacted to proposals tied to the federal excise tax on communications which is unfairly applied to different communications services, the federal estate tax, which prohibits the transfer of rural telcos and other rural assets to heirs, and other taxation initiatives that may help or hinder the operations of rural community-based communications providers. Also focused attention on the full implementation of the Sarbanes-Oxley statute that has the potential to create many financial burdens on small business entities such as rural communications providers. During the reporting period the association focused particular attention on the following: Miscellaneous Tax: H.R. 3861-To amend the Internal Revenue Code of 1986 to increase the AMT refundable credit amount for individuals with long-term unused credits for prior year minimun tax liability-all sections. H.R. 3996-To amend the Internal Revenue Code of 1986 to extend certain expiring provisions-all sections. Also the resolution for consideration, H. Res. 809. H.R. 5558-To limit the discriminatory taxation of oil pipeline property-all sections. H.R. 6049-To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, and to provide individual income tax relief-sections relating to tax expirations affecting small businesses and NTCA. benefit plans. S. 2342-To amend the Internal Revenue Code of 1986 to provide alternative minimum tax relief for 2007 and to provide special tax rates for certain capital gains and qualified dividend income for 2007-all sections. S. 2389-To amend the Internal Revenue Code of 1986 to increase the alternative minimum tax credit amount for individuals with long-term unused credits for prior year minimum tax liability-all sections. Federal Excise Tax: H.R. 1194-To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services-all sections. H.R. 3997-To amend the Internal Revenue Code of 1986 to provide tax relief and protections for military personnal-all sections. H.R. 5793-To restrict any state or local jurisdiction from imposing a new discriminatory tax on cell phone services, providers, or property-all sections. H.R. 6081-To amend the Internal Revenue Code of 1986 to provide benefits for military personnel-all sections. S. 140-To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services-all sections. S. 166-To restrict any state from imposing a new discriminatory tax on cell phone services-all sections. S. 170-To amend the Internal Revenue Code of 1986 to repeal the excise tax on telephone and other communications services-all sections.

Tax issues; H.R. 3861.

Client expense: Not reported · Firm income: $10,000

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Treasury, Dept of

Tax issues; H.R.3861

Client expense: Not reported · Firm income: $10,000

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Treasury, Dept of

HR 5267 Business Activity Tax Simplification Act of 2008- To regulate certain State taxation of interstate commerce, and for other purposes. HR 4351 Alternative Minimum Tax Relief Act- Legislation providing a temporary "patch" of the alternative minimum tax (AMT) to relieve many taxpayers of the AMT obligation for one year HR 3678 Internet Tax Freedom Act Amendments Act of 2007- Internet Tax Moratorium HR 3861 The AMT Credit Fairness and Relief Act- Would resolve the unintended application of the AMT tax as applied to incentive stock options (ISOs). S 2389 The AMT Credit Fairness and Relief Act- Would resolve the unintended application of the AMT tax as applied to incentive stock options (ISOs).

Client expense: $203,006 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

HR 3861 - AMT Credit Fairness and Relief Act of 2007

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, UNDETERMINED

Tax issues; H.R. 3861

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

Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Treasury, Dept of, UNDETERMINED