Offshore Deferred Compensation Reform Act of 2007

H.R.32: To provide for a credit for certain health care benefits in determining the minimum wage. H.R.126: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. H.R.298: To amend the Internal Revenue Code of 1986 to allow amounts in a health flexible spending arrangement that are unused during a plan year to be carried over to the next plan year. H.R.527: To help American families save, invest, and build a better future, and for other purposes. H.R.640: To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes. H.R.666: To amend the Internal Revenue Code of 1986 to require that amounts paid for employer-provided coverage under accident or health plans be included on W-2 Forms. H.R.892: To establish and provide for the treatment of Individual Development Accounts, and for other purposes. H.R.1672: To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. H.R.1748: To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use. H.R. 2163: to amend the Internal Revenue Code of 1986 to expand incentives for saving. H.R. 2205: to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. H.R.2834: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R.3221: A bill to provide needed housing reform and for other purposes. H.R. 3475: to amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5 million, to adjust such amount for inflation, to repeal the one-year termination of the estate tax, and for other purposes. H.R. 3694: to amend the Internal Revenue Code of 1986 to provide corporate alternative minimum tax reform. H.R. 3717: to amend the Internal Revenue Code of 1986 to provide a tax credit to employers for the costs of implementing wellness programs, and for other purposes. H.R. 3923: to amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3947: to amend the Internal Revenue Code of 1986 to provide for a carryforward of unused benefits in health flexible spending arrangements. H.R. 3970: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. H.R. 3975: to amend the Internal Revenue Code of 1986 to provide a 100 percent deduction for the health insurance costs of individuals. H.R. 3996: to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 4172: to amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3.5 million. H.R. 4195: to amend the Internal Revenue Code of 1986 to make technical corrections.H.R. 4235: to amend the Internal Revenue Code of 1986 to restore the estate tax, to repeal the carryover basis rule, to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3 million exclusion and to provide an inflation adjustment of such amount, and for other purposes. H.R.5031: To amend the Internal Revenue Code of 1986 to extend relief from the alternative minimum tax. H.R.5105: To amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. H.R.5455: To amend title 11 of the United States Code to make nondischargeable debts for personal injuries that result in permanent disability. H.R.5559: To amend the Internal Revenue Code of 1986 to allow individuals a deduction for qualified long-term care insurance premiums, use of such insurance under cafeteria plans and flexible spending arrangements, and a credit for individuals with long-term care needs. H.R.6049: To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. H.R.6275: To amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes. H. R. 6499: To amend the Internal Revenue Code of 1986 to reform the estate and gift tax. H.R.6899: To advance the national security interests of the United States by reducing its dependency on oil through renewable and clean, alternative fuel technologies while building a bridge to the future through expanded access to Federal oil and natural gas resources, revising the relationship between the oil and gas industry and the consumers who own those resources and deserve a fair return from the development of publicly owned oil and gas, ending tax subsidies for large oil and gas companies, and facilitating energy efficiencies in the building, housing, and transportation sectors, and for other purposes. S.26: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. S.58: A bill to amend the Internal Revenue code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment. S.96: A bill to amend the Internal Revenue Code of 1986 to ensure a fairer and simpler method of taxing controlled foreign corporations of United States shareholders, to treat certain foreign corporations managed and controlled in the United States as domestic corporations, to codify the economic substance doctrine, and to eliminate the top corporate income tax rate, and for other purposes. S.102: A bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. S.141: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts. S.2239: to amend the Internal Revenue Code of 1986 to allow self-employed individuals to deduct health insurance costs in computing self-employment taxes. S.2374: to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. S.2547: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. S.2741: to amend the Internal Revenue Code of 1986 to provide for disability savings accounts. S.3049: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S.3125: To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. S.3278: to amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using a credit card or other intermediary and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary. S.3284: A bill to amend the Internal Revenue Code of 1986 to permanently extend the estate tax as in effect in 2009, and for other purposes. S.3335: A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. S.3557: to encourage savings, promote financial literacy, and expand opportunities for young adults by establishing KIDS Accounts. S. 3717: to amend the Internal Revenue Code of 1986 to allow reimbursement from flexible spending accounts for certain dental products.

Client expense: $515,000 · Firm income: Not reported

Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade & Development Agency (USTDA), U.S. Trade Representative (USTR)

S. 819/ H.R. 1419 (Public Good IRA Rollover Act of 2007); S. 1141/ H.R. 2167 (Automatic IRA Act of 2007); S. 1010/ H.R. 2205 (Retirement Security for Life Act of 2007); S. 2 (Fair Minimum Wage Act of 2007); S. 1725 (Restoring Pension Promises to Workers Act); S. 1288 (Women's Retirement Security Act of 2007); H.R. 2669 (College Cost Reduction Act of 2007); H.R. 2831 (Ledbetter Fair Pay Act of 2007); Pension technicals; Fee disclosure and transparency; Small business pension coverage; Pension Protection Act implementation (investment advice); Wrap fee revenue ruling request; 529 plan regulatory project; Proposed regulation on Sec. 408(b)(2) of ERISA; RFI on disclosure to participants; Form 5500 revisions; H.R. 3923 (Offshore Deferred Compensation Act of 2007); S. 2199 (Offshore Deferred Compensation Act of 2007); S. 2473 (Defined Contribution Fee Disclosure Act of 2007); H.R. 3185 (The 401(K) Fair Disclosure for Retirement Security Act of 2007); H.R. 5160 (Save Act of 2008); H.R. 3765 (Defined Contribution Plan Fee Transparency Act of 2007); S. 2794 (Senior Investor Protection Act of 2008); H.R. 6143 (Pension Protection ERISA Amendments of 2008); Auction Rate Securities/IRA Exemption; H.R. 7327 (Worker, Retiree and Employer Recovery Act of 2008).

Client expense: $1,320,000 · Firm income: Not reported

Deferred Compensation - H.R. 3923 provisions included in H.R. 3970, H.R. 3996, H.R, 4195 Exchange Traded Notes- H.R. 4912 Emergency Economic Stabilization Act - H.R. 1424 Implementation

Client expense: $670,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R.1424, Emergency Economic Stabilization Act of 2008. H.R.6049, Renewable Energy and Job Creation Act of 2008 (Tax Extenders Act). Issues related to private equity and taxes. Issues related to Sovereign Wealth Funds. H.R.2834, To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services; issues related to carried interest tax treatment. S.1624, A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services; issues related to changes to publicly traded partnerships. H.R.3996, Temporary Tax Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. H.R.4351, AMT Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. S.2199/H.R.3923, Offshore Deferred Compensation Reform Act of 2007. Issues related to H.R.2419/S.2302, FARM Bill. Issues related to the FY09 Budget.

Client expense: Not reported · Firm income: $2,560,000

H.R. 4351, AMT Relief Act of 2007, issues related to revenue offsets; H.R. 3923 / S. 2199, Offshore Deferred Compensation Reform Act of 2007, to amend the IRC of '86 to provide for the treatment of certain foreign nonqualified deferred comp.; H.R. 2834, to amend the IRC of '86 to treat income received by partners for performing investment management services as ordinary income; H.R. 3970, Tax Reduction and Reform Act of 2007; H.R. 6049, the Renewable Energy & Job Creation Act; H.R. 3125, Energy Independence & Tax Relief Act; H.R. 6275, AMT Relief Act; H.R. 7060, the Renewable Energy & Job Creation Tax Act; H.R. 6049, the Renewable Energy & Job Creation Tax Act; H.R. 6899, Energy Tax Incentives Act: H.R. 6275, AMT Relief Act; S. 3335, Jobs, Energy, Families and Disaster Relief Act; H.R. 1424, Tax Extenders and AMT Relief Act; S. 3098, AMT & Extenders Tax Relief Act of 2008, issues related to revenue offsets.

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

H.R. 5351, Renewable Energy and Energy Conservation Tax Act of 2008, provisions on oil and gas tax credits H.R. 1023, Withholding Tax Relief Act of 2007, provisions on 3% Tax Withholding Law H.R. 5719, Taxpayer Assistance and Simplification Act of 2008, provisions on Withholding Delay, Prohibition on Private Debt Collection H.R. 3996, Temporary Tax Relief Act of 2007, including provisions related to bonus depreciation and increased expensing. H. R. 4172, To amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3,500,000. H. R. 4235, Estate Tax Reduction Act of 2007 H. R. 3475, To amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5,000,000, to adjust such amount for inflation, to repeal the 1-year termination of the estate tax, and for other purposes. H.R.2380, To make the repeal of the estate tax permanent. H. R. 4242, Certain and Immediate Estate Tax Relief Act of 2007 H.R.3170, Capital Gains and Estate Tax Relief Act of 2007 S.1726, Business Activity Tax Simplification Act of 2007. H.R. 5267, Business Activity Tax Simplification Act of 2008. S.AMDT.4160 to S.CON.RES.70 To provide tax relief to middle-class families and small businesses, property tax relief to homeowners. S.AMDT.4170 to S.CON.RES.70 To protect families, family farms and small businesses by extending the income tax rate structure, raising the death tax exemption to $5 million and reducing the maximum death tax rate to no more than 35%; to keep education affordable by extending the college tuition deduction; and to protect senior citizens from higher taxes on their retirement income, maintain U.S. financial market competitiveness, and promote economic growth by extending the lower tax rates on dividends and capital gains. S.AMDT.4191 and S.AMDT.4372 to S.CON.RES.70 To protect small businesses, family ranches and farms from the Death Tax by providing a $5 million exemption, a low rate for smaller estates and a maximum rate no higher than 35%. S.AMDT.4348 to S.CON.RES.70 including the portion on extending expiring tax provisions such as the R&D Tax Credit. S. 2209, Research Credit Improvement Act of 2007 H.R. 1712, Research and Development Tax Credit Act of 2007 S. 41, Research Competitiveness Act of 2007 S. 2318, AMT Repeal and Tax Freedom Act S. 2293, Individual Alternative Minimum Tax Repeal Act of 2007 H.R. 4351, AMT Relief Act of 2007 S. 2199/H.R. 3923, Offshore Deferred Compensation Reform Act of 2007 H.R. 5140, Economic Stimulus Act of 2008, provisions on bonus depreciation, increased expensing and taxes H.R. 5109/S.2592, Economic Growth Act of 2008 H.R. 5720, Housing Assistance Tax Act of 2008 S. 2821, Clean Energy Tax Stimulus Act of 2008 H.R. 6049, Energy and Tax Extender Act of 2008 H.R. 6275, Alternative Minimum Tax Relief Act of 2008 S. 3125, Energy Independence and Tax Relief Act of 2008 S. 3044, Consumer-First Energy Act of 2008 The following issues did not have any specific legislation introduced: Issues related to the Research and Development Tax Credit Corporate repatriation of income earned abroad Temporary Waiver of the Income Tax Related to the Cancellation of Indebtedness Issues related to the Alternative Minimum Tax Legislation related to Estate/ Death Tax Issues Legislation to stimulate economic activity and spur job growth Economic Stimulus Legislation Possible legislation regarding a second economic stimulus bill Possible legislation regarding the automotive industry rescue plan S.____ A bill to amend the Internal Revenue Code of 1986 to stimulate business investment, and for other purposes H.R. 7044, To amend the Internal Revenue Code of 1986 to allow a temporary dividends received deduction for taxable years beginning in 2008 or 2009. S. 2668, the Modernize Our Bookkeeping In the Law for Employee's (MOBILE) Cell Phone Act of 2008 - including provisions relating to removing cell phones from the definition of "listed property". H.R. 6601, the Small Business Tax Modernization Act of 2008 - including provisions relating to removing cell phones from the definition of "listed property" H.R. 5793, the Cell Tax Fairness Act of 2008 S. 2519, Contracting and Tax Accountability Act of 2007, provisions on Tax Delinquency for Contractors. IRS Proposed Rule REG-158747-06: IRS Proposed Rule on Withholding Under Internal Revenue Code Section 3402(t) S. 777, Withholding Tax Relief Act of 2007, provisions on 3% Tax Withholding Law H.R. 1424/H.R. 3997, Emergency Economic Stabilization Act of 2008 IRS Notice 2008-9, to facilitate liquidity in the near term, IRS and Treasury will issue regulations providing that, for Section 956 purposes, a CFC may choose to exclude from the definition of obligation an obligation held by the CFC that would be an investment in United States property if the obligation is collected within 60 days from the time it is incurred

H.R. 4351, AMT Relief Act of 2007, issues related to revenue offsets; H.R. 3923 / S. 2199, Offshore Deferred Compensation Reform Act of 2007, to amend the IRC of '86 to provide for the treatment of certain foreign nonqualified deferred comp.; H.R. 2834, to amend the IRC of '86 to treat income received by partners for performing investment management services as ordinary income; H.R. 3970, Tax Reduction and Reform Act of 2007; H.R. 6049, the Renewable Energy & Job Creation Act; H.R. 3125, Energy Independence & Tax Relief Act; H.R. 6275, AMT Relief Act; H.R. 7060, the Renewable Energy & Job Creation Tax Act; H.R. 6049, the Renewable Energy & Job Creation Tax Act; H.R. 6899, Energy Tax Incentives Act: H.R. 6275, AMT Relief Act; S. 3335, Jobs, Energy, Families and Disaster Relief Act; H.R. 1424, Tax Extenders and AMT Relief Act; S. 3098, AMT & Extenders Tax Relief Act of 2008, issues related to revenue offsets.

Client expense: Not reported · Firm income: $83,000

S. 819/ H.R. 1419 (Public Good IRA Rollover Act of 2007); S. 1141/ H.R. 2167 (Automatic IRA Act of 2007); S. 1010/ H.R. 2205 (Retirement Security for Life Act of 2007); S. 2 (Fair Minimum Wage Act of 2007); S. 1725 (Restoring Pension Promises to Workers Act); S. 1288 (Women's Retirement Security Act of 2007); H.R. 2669 (College Cost Reduction Act of 2007); H.R. 2831 (Ledbetter Fair Pay Act of 2007); Pension technicals; Fee disclosure and transparency; Small business pension coverage; Pension Protection Act implementation; Wrap fee revenue ruling request; 529 plan regulatory project; Proposed regulation on Sec. 408(b)(2) of ERISA; RFI on disclosure to participants; Form 5500 revisions; H.R. 3923/ S. 2199 (Offshore Deferred Compensation Act of 2007); S. 2473 (Defined Contribution Fee Disclosure Act of 2007); H.R. 3185 (The 401(K) Fair Disclosure for Retirement Security Act of 2007); H.R. 5160 (Save Act of 2008); H.R. 3765 (Defined Contribution Plan Fee Transparency Act of 2007); S. 2794 (Senior Investor Protection Act of 2008); H.R. 6143 (Pension Protection ERISA Amendments of 2008); Auction Rate Securities/IRA Exemption.

Client expense: $1,430,000 · Firm income: Not reported

Deferred Compensation Legislation (H.R. 3923; H.R. 6049; H.R. 7060; H.R. 1424; S. 2199)

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Treasury, Dept of

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation and regulatory measures and Congressional studies affecting hedge funds and other alternative investments. H.R. 2834 To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 2785 To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. H.R. 3501 To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. H.R. 3923 To amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3996 To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 3970 To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S. 55 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax S. 681 Stop Tax Haven Abuse Act S. 1624 To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services S. 2199 To amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. S. 2293 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax, and for other purposes. S. 2318 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax and to permanently extend the reductions in income tax rates, and for other purposes. Section 409A of the Internal Revenue Code H.R. 6049, the Renewable Energy and Job Creation Act of 2008 H.R.6275 Alternative Minimum Tax Relief Act of 2008

H.R.32: To provide for a credit for certain health care benefits in determining the minimum wage. H.R.126: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. H.R.298: To amend the Internal Revenue Code of 1986 to allow amounts in a health flexible spending arrangement that are unused during a plan year to be carried over to the next plan year. H.R.527: To help American families save, invest, and build a better future, and for other purposes. H.R.640: To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes. H.R.666: To amend the Internal Revenue Code of 1986 to require that amounts paid for employer-provided coverage under accident or health plans be included on W-2 Forms. H.R.892: To establish and provide for the treatment of Individual Development Accounts, and for other purposes. H.R.1672: To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. H.R.1748: To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use. H.R. 2163: to amend the Internal Revenue Code of 1986 to expand incentives for saving. H.R. 2205: to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. H.R.2834: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R.3221: A bill to provide needed housing reform and for other purposes. H.R. 3475: to amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5 million, to adjust such amount for inflation, to repeal the one-year termination of the estate tax, and for other purposes. H.R. 3694: to amend the Internal Revenue Code of 1986 to provide corporate alternative minimum tax reform. H.R. 3717: to amend the Internal Revenue Code of 1986 to provide a tax credit to employers for the costs of implementing wellness programs, and for other purposes. H.R. 3923: to amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3947: to amend the Internal Revenue Code of 1986 to provide for a carryforward of unused benefits in health flexible spending arrangements. H.R. 3970: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. H.R. 3975: to amend the Internal Revenue Code of 1986 to provide a 100 percent deduction for the health insurance costs of individuals. H.R. 3996: to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 4172: to amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3.5 million. H.R. 4195: to amend the Internal Revenue Code of 1986 to make technical corrections.H.R. 4235: to amend the Internal Revenue Code of 1986 to restore the estate tax, to repeal the carryover basis rule, to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3 million exclusion and to provide an inflation adjustment of such amount, and for other purposes. H.R.5031: To amend the Internal Revenue Code of 1986 to extend relief from the alternative minimum tax. H.R.5105: To amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. H.R.5455: To amend title 11 of the United States Code to make nondischargeable debts for personal injuries that result in permanent disability. H.R.5559: To amend the Internal Revenue Code of 1986 to allow individuals a deduction for qualified long-term care insurance premiums, use of such insurance under cafeteria plans and flexible spending arrangements, and a credit for individuals with long-term care needs. H.R.6049: To amend the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, to extend certain expiring provisions, to provide individual income tax relief, and for other purposes. H.R.6275: To amend the Internal Revenue Code of 1986 to provide individuals temporary relief from the alternative minimum tax, and for other purposes. H. R. 6499: To amend the Internal Revenue Code of 1986 to reform the estate and gift tax. H.R.6899: To advance the national security interests of the United States by reducing its dependency on oil through renewable and clean, alternative fuel technologies while building a bridge to the future through expanded access to Federal oil and natural gas resources, revising the relationship between the oil and gas industry and the consumers who own those resources and deserve a fair return from the development of publicly owned oil and gas, ending tax subsidies for large oil and gas companies, and facilitating energy efficiencies in the building, housing, and transportation sectors, and for other purposes. S.26: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. S.58: A bill to amend the Internal Revenue code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment. S.96: A bill to amend the Internal Revenue Code of 1986 to ensure a fairer and simpler method of taxing controlled foreign corporations of United States shareholders, to treat certain foreign corporations managed and controlled in the United States as domestic corporations, to codify the economic substance doctrine, and to eliminate the top corporate income tax rate, and for other purposes. S.102: A bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. S.141: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts. S.2239: to amend the Internal Revenue Code of 1986 to allow self-employed individuals to deduct health insurance costs in computing self-employment taxes. S.2374: to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. S.2547: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. S.2741: to amend the Internal Revenue Code of 1986 to provide for disability savings accounts. S.3049: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S.3125: To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. S.3278: to amend the Internal Revenue Code of 1986 to provide that no loan may be made from a qualified employer plan using a credit card or other intermediary and to limit the number of loans that may be made from a qualified employer plan to a participant or beneficiary. S.3284: A bill to amend the Internal Revenue Code of 1986 to permanently extend the estate tax as in effect in 2009, and for other purposes. S.3335: A bill to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. S.3557: to encourage savings, promote financial literacy, and expand opportunities for young adults by establishing KIDS Accounts.

Deferred Compensation - H.R. 3923 provisions included in H.R. 3970, H.R. 3996, H.R, 4195 Exchange Traded Notes- H.R. 4912 Emergency Economic Stabilization Act - H.R. 1424

Client expense: $590,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Energy, Dept of, Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of

H.R. 4351, AMT Relief Act of 2007, issues related to revenue offsets; H.R. 3923 / S. 2199, Offshore Deferred Compensation Reform Act of 2007, to amend the IRC of '86 to provide for the treatment of certain foreign nonqualified deferred comp.; H.R. 2834, to amend the IRC of '86 to treat income received by partners for performing investment management services as ordinary income; H.R. 3970, Tax Reduction and Reform Act of 2007; H.R. 6049, the Renewable Energy & Job Creation Act; H.R. 3125, Energy Independence & Tax Relief Act; H.R. 6275, AMT Relief Act; H.R. 7060, the Renewable Energy & Job Creation Tax Act; H.R. 6049, the Renewable Energy & Job Creation Tax Act; H.R. 6899, Energy Tax Incentives Act: H.R. 6275, AMT Relief Act; S. 3335, Jobs, Energy, Families and Disaster Relief Act; H.R. 1424, Tax Extenders and AMT Relief Act; S. 3098, AMT & Extenders Tax Relief Act of 2008, issues related to revenue offsets.

Client expense: Not reported · Firm income: $94,500

H.R.1424, Emergency Economic Stabilization Act of 2008. H.R.6049, Renewable Energy and Job Creation Act of 2008 (Tax Extenders Act). Issues related to private equity and taxes. Issues related to Sovereign Wealth Funds. H.R.2834, To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services; issues related to carried interest tax treatment. S.1624, A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services; issues related to changes to publicly traded partnerships. H.R.3996, Temporary Tax Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. H.R.4351, AMT Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. S.2199/H.R.3923, Offshore Deferred Compensation Reform Act of 2007. Issues related to satellite regulation. Issues related to H.R.2419/S.2302, FARM Bill. Issues related to the FY09 Budget.

Client expense: Not reported · Firm income: Not reported

H.R.32: To provide for a credit for certain health care benefits in determining the minimum wage. H.R.126: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. H.R.298: To amend the Internal Revenue Code of 1986 to allow amounts in a health flexible spending arrangement that are unused during a plan year to be carried over to the next plan year. H.R.527: To help American families save, invest, and build a better future, and for other purposes. H.R.640: To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes. H.R.666: To amend the Internal Revenue Code of 1986 to require that amounts paid for employer-provided coverage under accident or health plans be included on W-2 Forms. H.R.892: To establish and provide for the treatment of Individual Development Accounts, and for other purposes. H.R.1672: To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. H.R.1748: To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use. H.R. 2163: to amend the Internal Revenue Code of 1986 to expand incentives for saving. H.R. 2205: to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. H.R.2834: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 3475: to amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5 million, to adjust such amount for inflation, to repeal the one-year termination of the estate tax, and for other purposes. H.R. 3694: to amend the Internal Revenue Code of 1986 to provide corporate alternative minimum tax reform. H.R. 3717: to amend the Internal Revenue Code of 1986 to provide a tax credit to employers for the costs of implementing wellness programs, and for other purposes. H.R. 3923: to amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3947: to amend the Internal Revenue Code of 1986 to provide for a carryforward of unused benefits in health flexible spending arrangements. H.R. 3970: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. H.R. 3975: to amend the Internal Revenue Code of 1986 to provide a 100 percent deduction for the health insurance costs of individuals. H.R. 3996: to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 4172: to amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3.5 million. H.R. 4195: to amend the Internal Revenue Code of 1986 to make technical corrections. H.R. 4235: to amend the Internal Revenue Code of 1986 to restore the estate tax, to repeal the carryover basis rule, to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3 million exclusion and to provide an inflation adjustment of such amount, and for other purposes. H.R.5031: To amend the Internal Revenue Code of 1986 to extend relief from the alternative minimum tax. H.R.5105: To amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. H.R.5455: To amend title 11 of the United States Code to make nondischargeable debts for personal injuries that result in permanent disability. H.R.5559: To amend the Internal Revenue Code of 1986 to allow individuals a deduction for qualified long-term care insurance premiums, use of such insurance under cafeteria plans and flexible spending arrangements, and a credit for individuals with long-term care needs. S.26: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. S.58: A bill to amend the Internal Revenue code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment. S.96: A bill to amend the Internal Revenue Code of 1986 to ensure a fairer and simpler method of taxing controlled foreign corporations of United States shareholders, to treat certain foreign corporations managed and controlled in the United States as domestic corporations, to codify the economic substance doctrine, and to eliminate the top corporate income tax rate, and for other purposes. S.102: A bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. S.141: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts. S. 2239: to amend the Internal Revenue Code of 1986 to allow self-employed individuals to deduct health insurance costs in computing self-employment taxes. S. 2374: to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. S.2547: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. S.2741: to amend the Internal Revenue Code of 1986 to provide for disability savings accounts. S.3049: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S.3125: To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation and regulatory measures and Congressional studies affecting hedge funds and other alternative investments. H.R. 2834 To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 2785 To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. H.R. 3501 To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. H.R. 3923 To amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3996 To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 3970 To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S. 55 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax S. 681 Stop Tax Haven Abuse Act S. 1624 To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services S. 2199 To amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. S. 2293 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax, and for other purposes. S. 2318 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax and to permanently extend the reductions in income tax rates, and for other purposes. Section 409A of the Internal Revenue Code H.R. 6049, the Energy and Tax Extenders Act of 2008 H.R.6275 Alternative Minimum Tax Relief Act of 2008

S. 819/HR 1419 (Public Good IRA Rollover Act of 2007); S. 1141/HR 2167 (Automatic IRA Act of 2007); S. 1010/HR 2205 (Retirement Security for Life Act of 2007); S. 2 (Fair Minimum Wage Act of 2007); S. 1725 (Restoring Pension Promises to Workers Act); S. 1288 (Women's Retirement Security Act of 2007); HR 2669 (College Cost Reduction Act of 2007); HR 2831 (Ledbetter Fair Pay Act of 2007); Pension technicals; Fee disclosure and transparency; Small business pension coverage; Pension Protection Act implementation; Wrap fee revenue ruling request; 529 plan regulatory project; Proposed regulation on Sec. 408(b)(2) of ERISA; RFI on disclosure to participants; Form 5500 revisions; HR 3923/S. 2199 (Offshore Deferred Compensation Act of 2007); S. 2473 (Defined Contribution Fee Disclosure Act of 2007); HR 3185 (The 401(K) Fair Disclosure for Retirement Security Act of 2007); HR 5160 (Save Act of 2008); HR 3765 (Defined Contribution Plan Fee Transparency Act of 2007); S. 2794 (Senior Investor Protection Act of 2008); HR 6143 (Pension Protection ERISA Amendments of 2008); Auction Rate Securities/IRA Exemption.

Client expense: $1,050,000 · Firm income: Not reported

Deferred Compensation Legislation (H.R. 3923; S. 2199).

Client expense: Not reported · Firm income: $30,000

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE

Deferred Compensation (H.R. 3923) provisions included in H.R. 3970, H.R. 3996, H.R, 4195 Exchange Traded Notes- H.R. 4912

Client expense: $520,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Energy, Dept of, Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of

H.R.32: To provide for a credit for certain health care benefits in determining the minimum wage. H.R.126: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. H.R.298: To amend the Internal Revenue Code of 1986 to allow amounts in a health flexible spending arrangement that are unused during a plan year to be carried over to the next plan year. H.R.527: To help American families save, invest, and build a better future, and for other purposes. H.R.640: To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes. H.R.666: To amend the Internal Revenue Code of 1986 to require that amounts paid for employer-provided coverage under accident or health plans be included on W-2 Forms. H.R.892: To establish and provide for the treatment of Individual Development Accounts, and for other purposes. H.R.1672: To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. H.R.1748: To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use. H.R. 2163: to amend the Internal Revenue Code of 1986 to expand incentives for saving. H.R. 2205: to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. H.R.2834: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 3475: to amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5 million, to adjust such amount for inflation, to repeal the one-year termination of the estate tax, and for other purposes. H.R. 3694: to amend the Internal Revenue Code of 1986 to provide corporate alternative minimum tax reform. H.R. 3717: to amend the Internal Revenue Code of 1986 to provide a tax credit to employers for the costs of implementing wellness programs, and for other purposes. H.R. 3923: to amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3947: to amend the Internal Revenue Code of 1986 to provide for a carryforward of unused benefits in health flexible spending arrangements. H.R. 3970: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. H.R. 3975: to amend the Internal Revenue Code of 1986 to provide a 100 percent deduction for the health insurance costs of individuals. H.R. 3996: to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 4172: to amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3.5 million. H.R. 4195: to amend the Internal Revenue Code of 1986 to make technical corrections. H.R. 4235: to amend the Internal Revenue Code of 1986 to restore the estate tax, to repeal the carryover basis rule, to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3 million exclusion and to provide an inflation adjustment of such amount, and for other purposes. H.R.5031: To amend the Internal Revenue Code of 1986 to extend relief from the alternative minimum tax. H.R.5105: To amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. H.R.5455: To amend title 11 of the United States Code to make nondischargeable debts for personal injuries that result in permanent disability. H.R.5559: To amend the Internal Revenue Code of 1986 to allow individuals a deduction for qualified long-term care insurance premiums, use of such insurance under cafeteria plans and flexible spending arrangements, and a credit for individuals with long-term care needs. S.26: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. S.58: A bill to amend the Internal Revenue code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment. S.96: A bill to amend the Internal Revenue Code of 1986 to ensure a fairer and simpler method of taxing controlled foreign corporations of United States shareholders, to treat certain foreign corporations managed and controlled in the United States as domestic corporations, to codify the economic substance doctrine, and to eliminate the top corporate income tax rate, and for other purposes. S.102: A bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. S.141: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts. S. 2239: to amend the Internal Revenue Code of 1986 to allow self-employed individuals to deduct health insurance costs in computing self-employment taxes. S. 2374: to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. S.2547: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. S.2741: to amend the Internal Revenue Code of 1986 to provide for disability savings accounts. S.3049: To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S.3125: To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes.

H.R.2642, Supplemental Appropriations Act. Issues related to Sovereign Wealth Funds. H.R.6049, Renewable Energy and Job Creation Act of 2008 (Tax Extenders Act). Issues related to private equity and taxes. H.R.2834, To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services; issues related to carried interest tax treatment. S.1624, A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services; issues related to changes to publicly traded partnerships. H.R.2830/S.1783, Pension Protection Act; issues related to hedge fund regulations with pension plans. H.R.3996, Tax Increase Prevention Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. H.R.4351, AMT Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. S.2199/H.R.3923, Offshore Deferred Compensation Reform Act of 2007. Issues related to satellite regulation. Issues related to H.R.2419/S.2302, FARM Bill. Issues related to the FY09 Budget.

Client expense: Not reported · Firm income: Not reported

H.R. 4351, AMT Relief Act of 2007, issues related to revenue offsets; H.R. 3923 / S. 2199, Offshore Deferred Compensation Reform Act of 2007, to amend the IRC of '86 to provide for the treatment of certain foreign nonqualified deferred comp.; H.R. 2834, to amend the IRC of '86 to treat income received by partners for performing investment management services as ordinary income; H.R. 3970, Tax Reduction and Reform Act of 2007; H.R. 6049, the Renewable Energy & Job Creation Act; H.R. 3125, Energy Independence & Tax Relief Act; H.R. 6275, AMT Relief Act, issues related to revenue offsets.

Client expense: Not reported · Firm income: $94,500

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S. 819/HR 1419 (Public Good IRA Rollover Act of 2007); S. 1141/HR 2167 (Automatic IRA Act of 2007); S. 1010/HR 2205 (Retirement Security for Life Act of 2007); S. 2 (Fair Minimum Wage Act of 2007); S. 1725 (Restoring Pension Promises to Workers Act); S. 1288 (Women's Retirement Security Act of 2007); HR 2669 (College Cost Reduction Act of 2007); HR 2831 (Ledbetter Fair Pay Act of 2007); Pension technicals; Fee disclosure and transparency; Small business pension coverage; Pension Protection Act implementation; Wrap fee revenue ruling request; 529 plan regulatory project; PRM on Sec. 408(b)(2) of ERISA; RFI on disclosure to participants; Form 5500 revisions; HR 3923/S. 2199 (Offshore Deferred Compensation Act of 2007); S. 2473 (Deferred Contribution Fee Disclosure Act of 2007); HR 3185 (The 4019K) Fair Disclosure for Retirement Security Act of 2007)

Client expense: $1,360,000 · Firm income: Not reported

H.R.32: To provide for a credit for certain health care benefits in determining the minimum wage. H.R.126: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. H.R.298: To amend the Internal Revenue Code of 1986 to allow amounts in a health flexible spending arrangement that are unused during a plan year to be carried over to the next plan year. H.R.527: To help American families save, invest, and build a better future, and for other purposes. H.R.640: To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes. H.R.666: To amend the Internal Revenue Code of 1986 to require that amounts paid for employer-provided coverage under accident or health plans be included on W-2 Forms. H.R.892: To establish and provide for the treatment of Individual Development Accounts, and for other purposes. H.R.1672: To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. H.R.1748: To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use. H.R. 2163: to amend the Internal Revenue Code of 1986 to expand incentives for saving. H.R. 2205: to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. H.R.2834: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 3475: to amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5 million, to adjust such amount for inflation, to repeal the one-year termination of the estate tax, and for other purposes. H.R. 3694: to amend the Internal Revenue Code of 1986 to provide corporate alternative minimum tax reform. H.R. 3717: to amend the Internal Revenue Code of 1986 to provide a tax credit to employers for the costs of implementing wellness programs, and for other purposes. H.R. 3923: to amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3947: to amend the Internal Revenue Code of 1986 to provide for a carryforward of unused benefits in health flexible spending arrangements. H.R. 3975: to amend the Internal Revenue Code of 1986 to provide a 100 percent deduction for the health insurance costs of individuals. H.R. 3996: to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 4172: to amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3.5 million. H.R. 4195: to amend the Internal Revenue Code of 1986 to make technical corrections. H.R. 4235: to amend the Internal Revenue Code of 1986 to restore the estate tax, to repeal the carryover basis rule, to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3 million exclusion and to provide an inflation adjustment of such amount, and for other purposes. H.R.5031: To amend the Internal Revenue Code of 1986 to extend relief from the alternative minimum tax. H.R.5105: To amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. H.R.5455: To amend title 11 of the United States Code to make nondischargeable debts for personal injuries that result in permanent disability. H.R.5559: To amend the Internal Revenue Code of 1986 to allow individuals a deduction for qualified long-term care insurance premiums, use of such insurance under cafeteria plans and flexible spending arrangements, and a credit for individuals with long-term care needs. S.26: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. S.58: A bill to amend the Internal Revenue code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment. S.96: A bill to amend the Internal Revenue Code of 1986 to ensure a fairer and simpler method of taxing controlled foreign corporations of United States shareholders, to treat certain foreign corporations managed and controlled in the United States as domestic corporations, to codify the economic substance doctrine, and to eliminate the top corporate income tax rate, and for other purposes. S.102: A bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. S.141: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts. S. 2239: to amend the Internal Revenue Code of 1986 to allow self-employed individuals to deduct health insurance costs in computing self-employment taxes. S. 2374: to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. S.2547: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. S.2741: to amend the Internal Revenue Code of 1986 to provide for disability savings accounts.

Meetings and calls with Members and staff of House and Senate Committees and agency officials concerning possible legislation and regulatory measures and Congressional studies affecting hedge funds and other alternative investments. H.R. 2834 To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 2785 To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services. H.R. 3501 To amend the Internal Revenue Code of 1986 to provide that indebtedness incurred by a partnership in acquiring securities and commodities is not treated as acquisition indebtedness by organizations which are limited partners for purposes of the unrelated business income tax. H.R. 3923 To amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3996 To amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 3970 To amend the Internal Revenue Code of 1986 to provide additional tax relief to low and moderate income individuals, to repeal the individual alternative minimum tax, to reform the corporate income tax, and for other purposes. S. 55 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax S. 681 Stop Tax Haven Abuse Act S. 1624 To amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services S. 2199 To amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. S. 2293 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax, and for other purposes. S. 2318 To amend the Internal Revenue Code of 1986 to repeal the individual alternative minimum tax and to permanently extend the reductions in income tax rates, and for other purposes. Section 409A of the Internal Revenue Code

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) Alternative Investments, Amending Internal Revenue Code provisions taxing partnerships involving alternative investments (H.R. 2785) Lilly Ledbetter Fair Pay Act of 2007 (H.R. 2831) Alternative Investments, Treating income received by partners for performing investment management as ordinary income (H.R. 2843) 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) Commission on the Tax Treatment of Hedge Funds and Private Equity Act of 2007 (H.R. 3417) Protecting Employees and Retirees in Business Bankruptcies Act of 2007 (H.R. 3652) Defined Contribution Plan Fee Transparency Act of 2007 (H.R. 3765) Bill to Delay the Effective Date of the PPA Funding Rules (H.R. 3868) Tax Reduction and Reform Act of 2007 (H. R. 3970) Offshore Deferred Compensation Reform Act of 2007 (H.R. 3923) 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) 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 (S. 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) Regulatory communication with covered federal officials on legislative issues. Legislation The Pension Protection Act (PPA) - H.R. 3361/S. 1974 & H.R. 3185/S. 2473 Treasury/IRS guidance on hybrid plans including backloading Treasury/IRS guidance on combined plan limit Treasury/IRS proposed regulations on single employer plan funding, benefit restrictions, interest rate modifications and mortality tables Treasury/IRS guidance on 409A and deferred compensation Treasury/IRS guidance on employer stock diversification DOL proposed 408(b)(2) regulations for fee disclosure requirements DOL final regulations and other guidance on Form 5500 PBGC guidance related to PPA implementation (hybrid/cash balance plans including backloading)

Deferred Compensation (H.R. 3923) provisions included in H.R. 3970, H.R. 3996, H.R, 4195 S. 2821 - Alternative Energy Tax Credits H.R. 4912 - Exchange Traded Notes

Client expense: $540,000 · Firm income: Not reported

Government targets: Commodity Futures Trading Commission (CFTC), Energy, Dept of, Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 4351, AMT Relief Act of 2007, issues related to revenue offsets; H.R. 3923 / S. 2199, Offshore Deferred Compensation Reform Act of 2007, to amend the IRC of '86 to provide for the treatment of certain foreign nonqualified deferred comp.; H.R. 2834, to amend the IRC of '86 to treat income received by partners for performing investment management services as ordinary income; H.R. 3970, Tax Reduction and Reform Act of 2007; H.R. 5140, Economic Stimulus Act of 2008, issues related to revenue offsets.

Client expense: Not reported · Firm income: $94,500

Government targets: HOUSE OF REPRESENTATIVES, SENATE

H.R.32: To provide for a credit for certain health care benefits in determining the minimum wage. H.R.126: To amend the Internal Revenue Code of 1986 to allow loans from individual retirement plans for qualified small business capital assets. H.R.298: To amend the Internal Revenue Code of 1986 to allow amounts in a health flexible spending arrangement that are unused during a plan year to be carried over to the next plan year. H.R.527: To help American families save, invest, and build a better future, and for other purposes. H.R.640: To amend the Internal Revenue Code of 1986 to permit financial institutions to determine their interest expense deduction without regard to tax-exempt bonds issued to provide certain small loans for health care or educational purposes. H.R.666: To amend the Internal Revenue Code of 1986 to require that amounts paid for employer-provided coverage under accident or health plans be included on W-2 Forms. H.R.892: To establish and provide for the treatment of Individual Development Accounts, and for other purposes. H.R.1672: To amend the Internal Revenue Code of 1986 to deny qualified dividend income treatment to certain foreign dividends. H.R.1748: To amend the Internal Revenue Code of 1986 to expand workplace health incentives by equalizing the tax consequences of employee athletic facility use. H.R. 2163: to amend the Internal Revenue Code of 1986 to expand incentives for saving. H.R. 2205: to amend the Internal Revenue Code of 1986 to encourage guaranteed lifetime income payments from annuities and similar payments of life insurance proceeds at dates later than death by excluding from income a portion of such payments. H.R.2834: To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services. H.R. 3475: to amend the Internal Revenue Code of 1986 to increase the estate and gift tax unified credit to an exclusion equivalent of $5 million, to adjust such amount for inflation, to repeal the one-year termination of the estate tax, and for other purposes. H.R. 3694: to amend the Internal Revenue Code of 1986 to provide corporate alternative minimum tax reform. H.R. 3717: to amend the Internal Revenue Code of 1986 to provide a tax credit to employers for the costs of implementing wellness programs, and for other purposes. H.R. 3923: to amend the Internal Revenue Code of 1986 to provide for the treatment of certain foreign nonqualified deferred compensation. H.R. 3947: to amend the Internal Revenue Code of 1986 to provide for a carryforward of unused benefits in health flexible spending arrangements. H.R. 3975: to amend the Internal Revenue Code of 1986 to provide a 100 percent deduction for the health insurance costs of individuals. H.R. 3996: to amend the Internal Revenue Code of 1986 to extend certain expiring provisions, and for other purposes. H.R. 4172: to amend the Internal Revenue Code of 1986 and the Economic Growth and Tax Relief Reconciliation Act of 2001 to restore the estate tax and repeal the carryover basis rule and to increase the estate tax unified credit to an exclusion equivalent of $3.5 million. H.R. 4195: to amend the Internal Revenue Code of 1986 to make technical corrections. H.R. 4235: to amend the Internal Revenue Code of 1986 to restore the estate tax, to repeal the carryover basis rule, to reduce estate tax rates by 20 percent, to increase the unified credit against estate and gift taxes to the equivalent of a $3 million exclusion and to provide an inflation adjustment of such amount, and for other purposes. H.R.5031: To amend the Internal Revenue Code of 1986 to extend relief from the alternative minimum tax. H.R.5105: To amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. H.R.5455: To amend title 11 of the United States Code to make nondischargeable debts for personal injuries that result in permanent disability. H.R.5559: To amend the Internal Revenue Code of 1986 to allow individuals a deduction for qualified long-term care insurance premiums, use of such insurance under cafeteria plans and flexible spending arrangements, and a credit for individuals with long-term care needs. S.26: A bill to amend the Internal Revenue Code of 1986 to establish a program demonstrating multiple approaches to Lifelong Learning Accounts, which are portable, worker-owned savings accounts that can be used by workers to help finance education, training, and apprenticeships and which are intended to supplement both public and employer-provided education and training resources, and for other purposes. S.58: A bill to amend the Internal Revenue code of 1986 to repeal the reduction in the deductible portion of expenses for business meals and entertainment. S.96: A bill to amend the Internal Revenue Code of 1986 to ensure a fairer and simpler method of taxing controlled foreign corporations of United States shareholders, to treat certain foreign corporations managed and controlled in the United States as domestic corporations, to codify the economic substance doctrine, and to eliminate the top corporate income tax rate, and for other purposes. S.102: A bill to amend the Internal Revenue Code of 1986 to extend and expand relief from the alternative minimum tax and to repeal the extension of the lower rates for capital gains and dividends for 2009 and 2010. S.141: A bill to amend the Internal Revenue Code of 1986 to permanently increase the maximum annual contribution allowed to be made to Coverdell education savings accounts, and to provide for a deduction for contributions to education savings accounts. S. 2239: to amend the Internal Revenue Code of 1986 to allow self-employed individuals to deduct health insurance costs in computing self-employment taxes. S. 2374: to amend the Internal Revenue Code of 1986 to make technical corrections, and for other purposes. S.2547: A bill to amend the Internal Revenue Code of 1986 to reduce taxes by providing an alternative determination of income tax liability for individuals, repealing the estate and gift taxes, reducing corporate income tax rates, reducing the maximum tax for individuals on capital gains and dividends to 10 percent, indexing the basis of assets for purposes of determining capital gain or loss, creating tax-free accounts for retirement savings, lifetime savings, and life skills, repealing the adjusted gross income threshold in the medical care deduction for individuals under age 65 who have no employer health coverage, and for other purposes. S.2741: to amend the Internal Revenue Code of 1986 to provide for disability savings accounts.

Deferrred Compensation Legislation (H.R. 3923; S. 2199); The Mental Health Parity Act (H.R. 1424; S. 558); The Genetic Information Nondiscrimination Act (H.R. 493; S. 358).

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

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

S. 819/HR 1419 (Public Good IRA Rollover Act of 2007); S. 1141/HR 2167 (Automatic IRA Act of 2007); S. 1010/HR 2205 (Retirement Security for Life Act of 2007); S. 2 (Fair Minimum Wage Act of 2007); S. 1725 (Restoring Pension Promises to Workers Act); S. 1288 (Women's Retirement Security Act of 2007); HR 2669 (College Cost Reduction Act of 2007); HR 2831 (Ledbetter Fair Pay Act of 2007); Pension technicals; Fee disclosure and transparency; Small business pension coverage; Pension Protection Act implementation; Wrap fee revenue ruling request; 529 plan regulatory project; PRM on Sec. 408(b)(2) of ERISA; RFI on disclosure to participants; Form 5500 revisions; HR 3923/S. 2199 (Offshore Deferred Compensation Act of 2007); S. 2473 (Deferred Contribution Fee Disclosure Act of 2007); HR 3185 (The 4019K) Fair Disclosure for Retirement Security Act of 2007)

Client expense: $1,360,000 · Firm income: Not reported

Deferred compensation legislation (H.R. 3923 and S. 2199, the "Offshore Deferred Compensation Reform Act of 2007")

Client expense: Not reported · Firm income: Not reported

Government targets: SENATE

H.R.2834, To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services; issues related to carried interest tax treatment. Issues related to private equity and taxes. Issues related to the FY09 Budget. S.1624, A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services; issues related to changes to publicly traded partnerships. H.R.2830/S.1783, Pension Protection Act; issues related to hedge fund regulations with pension plans. H.R.3996, Tax Increase Prevention Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. H.R.4351, AMT Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. S.2199/H.R.3923, Offshore Deferred Compensation Reform Act of 2007. Issues related to satellite regulation. Issues related to H.R.2419/S.2302, FARM Bill.

Client expense: Not reported · Firm income: Not reported

S.1624, A bill to amend the Internal Revenue Code of 1986 to provide that the exception from the treatment of publicly traded partnerships as corporations for partnerships with passive-type income shall not apply to partnerships directly or indirectly deriving income from providing investment adviser and related asset management services; issues related to changes to publicly traded partnerships. H.R.2830/S.1783, Pension Protection Act; issues related to hedge fund regulations with pension plans. H.R.3996, Tax Increase Prevention Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. H.R.4351, AMT Relief Act of 2007; issues related to the taxation of carried interest and publicly traded partnerships. S.2199/H.R.3923, Offshore Deferred Compensation Reform Act of 2007. Issues related to satellite regulation. H.R.2834, To amend the Internal Revenue Code of 1986 to treat income received by partners for performing investment management services as ordinary income received for the performance of services; issues related to carried interest tax treatment. Issues related to private equity and taxes.

Client expense: Not reported · Firm income: $720,000

Regulatory Treasury/IRS guidance on hybrid plans including backloading Treasury/IRS guidance on combined plan limit Treasury/IRS/DOL final regulations and other guidance on 403(b) plans Treasury/IRS proposed regulations on single employer plan funding, benefit restrictions, interest rate modifications and mortality tables Treasury/IRS proposed regulations on automatic enrollment contributions Treasury/IRS proposed regulations on health, long term care and disability insurance in a qualified plan Treasury/IRS guidance on 409A and deferred compensation Treasury/IRS transition relief and guidance on 409A corrections Treasury/IRS guidance on nonqualified deferred compensation Section 162 (m) Treasury/IRS guidance on normal retirement age Treasury/IRS proposed guidance on 204(h) notices Treasury/IRS guidance on employer stock diversification DOL proposed regulations on PPA disclosure penalties DOL proposed regulations on selection of annuity providers for individual account plans DOL RFI on 401(k) plan fee and expense disclosure DOL proposed 408(b)(2) regulations for fee disclosure requirements DOL/ERISA Advisory Council Working Groups on participant defined contribution plan benefit statements, financial literacy, participant defined benefit plan statements, fiduciary responsibilities and revenue sharing DOL final regulations and other guidance on Form 5500 DOL final guidance and follow-up on qualified default investment alternative arrangements PBGC proposed regulations to change the variable rate premium (VRP) PBGC proposed guidance related to PPA implementation Shareholder Votes on Executive Compensation Act (H.R. 1257) Tax Equity for Health Plan Beneficiaries Act of 2007 (H.R. 1820) Farm Nutrition and Bioenergy Act of 2007, Food & Energy Security Act of 2007, title as passed (H.R. 2419) Pension Security Act of 2007 (H.R. 2683) Alternative Investments, Amending Internal Revenue Code provisions taxing partnerships involving alternative investments (H.R. 2785) Lilly Ledbetter Fair Pay Act of 2007 (H.R. 2831) Alternative Investments, Treating income received by partners for performing investment management as ordinary income (H.R. 2843) Tax Responsibility Act of 2007 (H.R. 3056) Fair Disclosure for Retirement Security Act of 2007 (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) Commission on the Tax Treatment of Hedge Funds and Private Equity Act of 2007 (H.R. 3417) Protecting Employees and Retirees in Business Bankruptcies Act of 2007 (H.R. 3652) Defined Contribution Plan Fee Transparency Act of 2007 (H.R. 3765) Bill to Delay the Effective Date of the PPA Funding Rules (H.R. 3868) Tax Reduction and Reform Act of 2007 (H. R. 3970) Offshore Deferred Compensation Reform Act of 2007 (H.R. 3923) 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) 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 (S. 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) Small Business Tax Relief Act/Children’s Health Insurance (CHIP) Reauthorization Act of 2007, title as passed (H.R. 976)

Executive Compensation Provision (H.R. 1257) Deferred Compensation (H.R. 3923) provisions included in H.R. 3970, H.R. 3996, H.R. 4195

Client expense: $880,000 · Firm income: Not reported

Government targets: Energy, Dept of, Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of

H.R. 3996, Tax Increase Prevention Act of 2007; H.R. 4351, AMT Relief Act of 2007, issues related to revenue offsets; H.R. 3923 / S. 2199, Offshore Deferred Compensation Reform Act of 2007, to amend the IRC of '86 to provide for the treatment of certain foreign nonqualified deferred comp.; H.R. 2834, to amend the IRC of '86 to treat income received by partners for performing investment management services as ordinary income; H.R. 3970, Tax Reduction and Reform Act of 2007.

Client expense: Not reported · Firm income: $210,000

Government targets: HOUSE OF REPRESENTATIVES, SENATE