Small Business Tax Modernization Act of 2008

S. 601, the Simplification Through Additional Reporting Tax Act of 2007 S. 777, to repeal the imposition of withholding on certain payments made to vendors by government entities. S. 819, the Public Good IRA Rollover Act of 2007 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes. S. 940, to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income (all provisions) 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. (all provisions) S. 1726, the Business Activity Tax Simplification Act (all provisions) S. 2394, the Good Government Contractor Act of 2007 (provision to repeal withholding requirement) S. 3063, the S Corporation Modernization Act S. 3254, the Small Bank Tax Equity Act S. 3335, the Jobs, Energy, Families, and Disaster Relief Act of 2008 (provisions to extend business-related tax provisions) H.R. 6, the Renewable Fuels, Consumer Protection, and Energy Efficiency Act of 2007 (S.Amdt. 1704, tax title provisions) H.R. 976, the Small Business Tax Relief Act of 2007 (all provisions) H.R. 1419, the Public Good IRA Rollover Act or 2007 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes. H.R. 1424, the Emergency Economic Stabilization Act H.R. 1509, to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income (all provisions) H.R. 1677, the Taxpayer Protection Act of 2007 (refund anticipation loan provisions) H.R. 1023, to repeal the impositions of withholding on certain payments made to vendors by government entities. H.R. 2370, to amend the Internal Revenue Code of 1986 to provide for the establishment of financial security accounts for the care of family members with disabilities. 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. 3056, the Tax Collection Responsibility Act of 2007 (all provisions) H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007 (all provisions) H.R. 3678, the Internet Tax Freedom Act Amendments Act of 2007 (all provisions) H.R. 3970, the Tax Reduction and Reform Act of 2007 (revenue offset provisions, including economic substance doctrine, cost basis reporting, and deferred compensation taxation) H.R. 3996, the Tax Increase Prevention Act of 2007 (mortgage debt forgiveness, revenue offset tax provisions) H.R. 3997, the Emergency Economic Stabilization Act H.R. 4351, the AMT Relief Act of 2007 (revenue offsets provisions on the economic substance doctrine, deferred offshore compensation for hedge fund managers, and interest expense allocation rules for multinational firms) H.R. 4840, the S Corporation Modernization Act (all provisions) H.R. 5267, the Business Activity Tax Simplification Act of 2008 (all provisions) H.R. 5720, the Housing Assistance Tax Act of 2008 (all provisions, including bond authority, tax credits, cost-basis reporting requirements, and IRS withholding requirements) H.R. 6049, the Renewable Energy and Job Creation Act of 2008 (tax extension provisions, including research and development tax credit, Subpart F and Section 355 (controlled foreign corporation) rules, new markets tax credit; revenue offsets including effective date of new interest expense allocation, changes to deferred compensation rules for managers of offshore hedge funds) H.R. 6275, the Alternative Minimum Tax Relief Act of 2008 (revenue offset provisions) H.R. 6333, the Municipal Bonds Market Support Act (all provisions) H.R. 6601, the Small Business Tax Modernization Act of 2008 (all provisions) H.R. 7060, the Renewable Energy and Job Creation Tax Act of 2008 (business tax provisions, revenue offsets) Draft Legislation to require Cost-Basis Reporting for Securities Credit Card Information Reporting Codification of the Economic Substance Doctrine Proposals to apply unrelated business income tax (UBIT) to credit unions Proposals on Estate and Gift Tax Reform Proposed Middle Class Job Security Act (corporate tax rate, net operating loss carry-back provisions) Proposed amendment to Section 67(e) tax deductibility of trustee fees Proposals to increase net operating loss carryback provisions Proposals to modify or eliminate Internal Revenue Service provisions (Notice 2008-83) affecting loss deductibility in bank mergers

Client expense: $1,930,000 · Firm income: Not reported

Government targets: Defense, Dept of (DOD), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Justice, Dept of (DOJ), Labor, Dept of (DOL), Office of Management & Budget (OMB), SENATE, Social Security Administration (SSA), Treasury, Dept of, White House Office

Renewable Energy and Job Creation Act of 2008- H.R. 6049 Energy Independence and Tax Relief Act of 2008- S. 3125 Tip Tax Fairness Act- H.R. 2034 Restaurant Depreciation- H.R. 3622, S. 2170 H.R. 6275 Alternative Minimum Tax Relief Act of 2008 Business Meal Deductability- H.R. 2648, S. 58 Social Security, No-Match Issues -New Direction for Energy Independence, National Security and Consumer Protection Act (H.R. 3221- business tax package that didn't end up being included on Senate side for restaurant depreciation, Hutchison/Nelson Amendments) Jobs, Energy, Families and Disaster Relief Act of 2008- S. 3335 Tax Extenders and Minimum Tax Relief Act of 2008- S. 3098 Energy Independence and Investment Act of 2008- S. 3478 Emergencey Economic Stabilization Act of 2008- H.R. 1424 Small Business Tax Modernization Act of 2008- H.R. 6601 Affordable Food and Fuel for America Act

Client expense: $1,120,000 · Firm income: Not reported

Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), Education, Dept of, Energy, Dept of, Environmental Protection Agency (EPA), Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), SENATE, Small Business Administration (SBA), State, Dept of (DOS), Treasury, Dept of, White House Office

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.Con.Res. 312 - Budget resolution FY2009 Bill establishes the congressional budget for the Federal Government for fiscal year 2009, and sets forth appropriate budgetary levels for fiscal years 2010 through 2013. NSBA supported certain sections and amendments of the resolution. H.R. 25 - Fair Tax Act or 2007 Legislation to abolish the Internal Revenue Service and enacting a national sales tax. NSBA supported. H. R. 731 - National Small Business Regulatory Assistance Act of 2007 Bill would require the SBA to establish a program providing regulatory-compliance assistance to small businesses. NSBA supported. H.R. 1023 - Withholding Tax Relief Act of 2007 A bill to repeal a provision designed to increase federal tax revenue by $7 billion over ten years. Repeal the new mandatory 3 percent withholding requirement on all payments for goods and services made to federal, state and local contractors. NSBA supports. H.R. 1112 - Stealth Tax Relief Extension Act of 2007 The legislation increases the exemption from the alternative minimum tax for individual taxpayers in 2007 and extends through 2007 the allowance of certain nonrefundable tax credits against alternative minimum tax liability. NSBA supported. H.R. 1332 Small Business Lending Improvements Act of 2007 Bill would improve the access to capital programs of the SBA. NSBA supported. H.R. 1424 - Emergency Economic Stabilization Act of 2008 Bill addressed the expiration of popular tax provisions such as the AMT patch, research and development tax credits and various other credits and deductions designed to encourage renewable energies. NSBA supported. H.R. 1506 Fuel Economy Reform Act Measure would increase fuel economy standards for automobiles. NSBA supported. H.R. 1542 Healthy Families Act Bill to expand the Family Medical Leave Act (FMLA) to require that employers with 15 or more employees provide up to 7 paid sick-leave days to their employees. NSBA opposed. H.R. 1677 Taxpayer Protection Act of 2007 Bill gives IRS the right to deny information to tax preparers and lenders who might be contemplating predatory refund anticipation loans (RALs). It also includes provisions on the earned income tax credit and individual retirement accounts. NSBA supported. H.R. 1873 Small Business Fairness in Contracting Act of 2007 Bill would improve federal procurement opportunities for small businesses. NSBA supported. H.R. 2205/S. 1010 Retirement Security for Life Act 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. NSBA supports retirement options for its employees, but NSBA has remained largely neutral on this proposal. H.R. 2380 - Death Tax Repeal Permanency Act of 2007 To make permanent the repeal of the estate tax after 2010. NSBA supported H.R. 2419 - Farm, Nutrition, and Bioenergy Act of 2007 Bill includes tax incentives for farms, energy and conservation initiatives. NSBA opposed certain revenue-offsets in the bill. H.R. 2727 Small Business SOX Compliance Extension Act It would extend the current exemption by at least one year for small businesses to comply with the Sarbanes-Oxley internal controls reporting requirements. NSBA supported. H.R. 3163 - The Healthy Americans Act Broad health care reform that includes an individual mandate, creation of state Health Help Agencies, subsidies for low-income individuals and changes tax-treatment of health care and health insurance expenditures. NSBA supported sections of the bill. H.R. 3170 Capital Gains and Estate Tax Relief Act of 2007 The bill permanently reduces the capital gains tax to 15 percent and the estate tax exemption will be $3.5 million in 2009 and will increase $250,000 per year until it reaches $5 million 2015. NSBA supported. H.R. 3221 - New Direction for Energy Independence, National Security, and Consumer Protection Act The bill provides economic aid to the housing industry and amend the Internal Revenue Code of 1986 to provide tax incentives for the production of renewable energy and energy conservation. NSBA opposed certain revenue-offsets in the bill. H.R. 3548 - Plain Language in Government Communications Act of 2007 Bill would establish plain language as the standard style for Government documents issued to the public, and for other purposes. NSBA supported. H.R. 3567 - the Small Business Investment Expansion Act of 2007 Bill would expand the ability of venture capital-owned businesses to participate in small-business programs. NSBA opposed. H.R. 3660 - Equity for Our Nations Self-Employed Act of 2007 Would allow self-employed individuals to fully-deduct the cost of their health insurance, thus eliminating the self-employed tax on health care. NSBA supported. H.R. 4008 - Credit and Debit Card Receipt Clarification Act of 2007 Bill provides technical corrections to the definition of willful noncompliance in regard to unintentional violations of the Fair Credit Reporting Act. NSBA supported. H.R. 4458 - the Small Business Regulatory Improvement Act Bill seeks to improve the Regulatory Flexibility Act and reduce the regulatory burden borne by Americas small businesses. NSBA supported. H.R. 5140 - Economic Stimulus Act of 2008 Bill provides economic stimulus through recovery rebates to individuals, incentives for business investment, and an increase in conforming and FHA loan limits. NSBA supported. H.R. 5244 - The Credit Cardholders Bill of Rights Bill would prohibit or reform various credit-card practices. NSBA supported. H.R. 5351 - Renewable Energy and Energy Conservation Tax Act Bill would extend a range of renewable energy tax incentives NSBA supported. H.R. 5402 - Climate Change Center and Clearinghouse Act of 2007 Bill would charge the SBA and EPA to co-chair an interagency working group across federal agencies and establish a clearinghouse of climate-change related information for small businesses. NSBA supported. H.R. 5719 - Taxpayer Assistance and Simplification Act of 2008 Bill amends the Internal Revenue Code of 1986 to conform return preparer penalty standards, delay implementation of withholding taxes on government contractors, enhance taxpayer protections, and assist low-income taxpayers. NSBA supported certain provisions of the measure. H.R. 5819 SBIR STTR Reauthorization Act Bill would reauthorize the Small Business Innovation Research (SBIR) program. NSBA supported. H.R. 6049 - Renewable Energy and Job Creation Act of 2008 Bill amends the Internal Revenue Code of 1986 to provide incentives for energy production and conservation, extend certain expiring tax provisions, and provide individual income tax relief. NSBA supported. H.R. 6210 Small Business Health Options Program Act of 2008 Amends the Public Health Service Act to establish a nationwide health insurance purchasing pool for small businesses and the self-employed that would offer a choice of private health plans and make coverage more affordable, predictable, and accessible. NSBA supported certain sections of the bill. H.R. 6214 Home Office Deduction Standardization Act of 2008 It amends the Internal Revenue Code to allow a taxpayer who uses a residence to conduct a trade or business a standard tax deduction equal to the lesser of $1,500 or the taxpayer's gross trade or business income derived from the business use of such residence. NSBA supported. H.R. 6275 - Alternative Minimum Tax Relief Act of 2008 Bill provides individuals temporary relief from the alternative minimum tax. NSBA supported bill, but opposed offsets. H.R. 6499 Sensible Tax Act of 2008 Beginning in 2009, the legislation would permanently exclude the first $2 million ($4 million for a couple) of an estates value from being subject to any tax and subsequently be adjusted for inflation. The measure would ensure that the surviving spouse is entitled to the $2 million to which the deceased spouse was entitled. NSBA supported. H.R. 6582 - Small Business CHOICE Act of 2008 To encourage the development of small business cooperatives for healthcare options to improve coverage for employees (CHOICE) including through a small business CHOICE tax credit. NSBA supports elements of this legislation to the extent it addresses rising health care cost and insurance availability for small business owners. However, NSBA maintains reservations about the use of cooperatives to achieve this. H.R. 6601 Small Business Tax Modernization Act of 2008 Bill creates a standard home office deduction, removes cell phones from listed property, allows nonresident aliens to be S corporation shareholders, increases the deduction for business meals and entertainment for qualified small businesses, and reduces the recovery period for depreciation of heating, ventilation, air conditioning, and refrigeration (HVACR) equipment. NSBA supported. H.R. 6633 - Employee Verification Amendment Act of 2008 To evaluate and extend the basic pilot program for employment eligibility confirmation and to ensure the protection of Social Security beneficiaries. NSBA supports the employment of legal employees, but remains cautious of mandating a system such as E-verify on small businesses owners due to burdensome administrative task, unwarranted penalties and historical technical errors with the E-verify system. H.R. 6983 - Paul Wellstone Mental Health and Addiction Equity Act of 2008 Would require health plans that offer mental health benefits to cover the same mental health and addiction disorders that are included in the Federal Employee Health Benefits Program (FEHBP). NSBA opposed. H.R. 7060 - Renewable Energy and Job Creation Tax Act of 2008 Bill includes an extension of individual and business tax provisions and energy tax incentives. NSBA supported. H.R. 7074 Home Office Tax Deduction Simplification Act Bill brings clarity to the process of claiming the tax deduction for a home office and directs the Secretary of Treasury to establish an optional standard deduction. NSBA supported. S.Con.Res. 70 - Bill establishes the congressional budget for the Federal Government for fiscal year 2009, and sets forth appropriate budgetary levels for fiscal years 2010 through 2013. NSBA supported certain sections and amendments of the resolution. S. 55 - Individual Alternative Minimum Tax Repeal Act of 2007 The measure repeals the alternative minimum tax on individuals. NSBA supported. S. 102 A bill 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. The legislation increases the exemption from the alternative minimum tax for individual taxpayers in 2007 and extends through 2007 the allowance of certain nonrefundable tax credits against alternative minimum tax liability. NSBA supported. S. 334 The Healthy Americans Act Broad health care reform that includes an individual mandate, creation of state Health Help Agencies, subsidies for low-income individuals and changes tax-treatment of health care and health insurance expenditures. NSBA supported sections of the bill S.558 Mental Health Parity Act of 2007 Legislation would require insurance companies to offer the same level of financial coverage for mental health care as they do for other medical care. NSBA opposed S. 777 Withholding Tax Relief Act of 2007 A bill to repeal a provision designed to increase federal tax revenue by $7 billion over ten years. Repeal the new mandatory 3 percent withholding requirement on all payments for goods and services made to federal, state and local contractors. NSBA supports. S. 910 Healthy Families Act Bill to expand the Family Medical Leave Act (FMLA) to require that employers with 15 or more employees provide up to 7 paid sick-leave days to their employees. NSBA opposed S. 1145 - The Patent Reform Act of 2007 Bill would provide comprehensive reform the U.S. patent system. NSBA opposed. S. 1395 - Stop Unfair Practices in Credit Cards Act Bill would prohibit or reform various credit-card practices. NSBA supported. S. 1617- Fuel Reduction using Electrons to End Dependence On the Mid-East (FREEDOM) Act Bill would provide incentives for the purchase of plug-in electric drive motor vehicles. NSBA supported. S. 1681 Family Medical Leave Insurance Act Legislation to create a fund that would provide up to eight weeks of paid family leave. Mandates employees and employers to fund the plan through payroll taxes. NSBA opposed. S. 1783 - Ten Steps to Transform Health Care in America Act A bill to provide 10 steps to transform health care in America. NSBA supports this legislation to the extent it offers a comprehensive perspective to reforming the health care system to make insurance more affordable for small business owners. However, NSBA opposes the across state line pooling which is included in this proposal. S. 1932 Bill would increase the expenditures for the Small Business Innovation Research and Small Business Technology Transfer programs. NSBA supported. S. 2291- Plain Language in Government Communications Act of 2007 Bill would establish plain language as the standard style for Government documents issued to the public, and for other purposes. NSBA supported. S. 2239 Equity for Our Nations Self-Employed Act of 2007 Would allow self-employed individuals to fully-deduct the cost of their health insurance, thus eliminating the self-employed tax on health care. NSBA supports. S. 2394 - Good Government Contractor Act of 2007 Bill would amend the Internal Revenue Code of 1986 to simplify, modernize, and improve public notice of and access to tax lien information by providing for a national, Internet accessible, filing system for Federal tax liens, and would also repeal the three percent withholding requirement. NSBA supports sections of this bill. S. 2612 - The Small Business Lending Stimulus Act of 2008, Bill would authorize additional funding for SBA lending program and cut borrowing and lending fees. NSBA supported. S. 2636 - Foreclosure Prevention Act of 2008 Bill provides housing reform and includes and extension of the net operating loss carryback rules to allow some money-losing businesses to get refunds of taxes paid during profitable years. NSBA supported. S. 2795 Small Business Health Options Program Act of 2008 Amends the Public Health Service Act to establish a nationwide health insurance purchasing pool for small businesses and the self-employed that would offer a choice of private health plans and make coverage more affordable, predictable, and accessible. NSBA supported certain sections of the bill. S. 2886 - Alternative Minimum Tax and Extenders Tax Relief Act of 2008 Bill amends the Internal Revenue Code to extend expiring provisions relating to the alternative minimum tax, individual and business taxpayers, energy conservation, and tax administration. NSBA supported. S. 2902 SBA Reauthorization and Improvements Act of 2008 Bill would reauthorize various parts of the Small Business Administration. NSBA supported. S. 3371 Home Office Deduction Simplification and Improvement Act of 2008 Bill brings clarity to the process of claiming the tax deduction for a home office and directs the Secretary of Treasury to establish an optional standard deduction. NSBA supported. S. 3406 ADA Amendments Act A bill to restore the intent and protections of the Americans with Disabilities Act of 1990. NSBA supports the intent of the ADA, but raised concerns over the potential for additional burdensome regulations being put on small businesses. S. 3408 Comparative Effectiveness Research Act of 2008 A bill to amend title XI of the Social Security Act to provide for the conduct of comparative effectiveness research and to amend the Internal Revenue Code of 1986 to establish a Comparative Effectiveness Research Trust Fund, and for other purposes. NSBA supports this legislation as a cornerstone to the framework of value-based purchasing and price transparency to consumer of health care services. S. 3554 - Affordable Coverage for Small Employers Act of 2008 A bill to provide employees of small employers with access to quality, affordable health insurance coverage. NSBA supports this legislation to the extent it offers a comprehensive low-income subsidies and tax incentive available to make insurance more affordable for small business owners.

Economic Stimulus Act of 2008- H.R. 5140, H.R. 2648, S. 58 Tip Tax Fairness Act- H.R. 2034 Small Business Tax Relief Act of 2007- H.R. 976, H.R. 2 Restaurant Depreciation- H.R. 3622, S. 2170 Renewable Energy and Job Creation Act of 2008- H.R. 6049 Energy Independence and Tax Relief Act of 2008- S. 3125 Tax Reduction & Reform Act- H.R. 3970 Tax Increase Prevention Act- H.R. 3996 The AMT Relief Act of 2007- H.R. 4351 and H.R. 6275 Alternative Minimum Tax Relief Act of 2008 Estate Tax- H.R. 2380, H.R. 1586 Biodiesel Production Tax Credit Parity Act- H.R. 927 Food Donation Business Meal Deductability- H.R. 2648, S. 58 Small Business Expensing, section 179 Social Security, No-Match Issues -New Direction for Energy Independence, National Security and Consumer Protection Act (H.R. 3221- business tax package that didn't end up being included on Senate side for restaurant depreciation, Hutchison/Nelson Amendments) Jobs, Energy, Families and Disaster Relief Act of 2008- S. 3335 Tax Extenders and Minimum Tax Relief Act of 2008- S. 3098 Energy Independence and Investment Act of 2008- S. 3478 Emergencey Economic Stabilization Act of 2008- H.R. 1424 Small Business Tax Modernization Act of 2008- H.R. 6601

Client expense: $850,000 · Firm income: Not reported

H.R. 6275, Alternative Minimum Tax Relief Act of 2008 H.R. 6049, Renewable Energy and Job Creation Act of 2008 H.R. 3221, Housing and Economic Recovery Act of 2008 (enacted as Public Law 110-289) H.R. 5267, Business Activity Tax Simplification Act of 2008 H.R. 6601, Small Business Tax Modernization Act of 2008 H.R. 6899, Comprehensive American Energy Security and Consumer Protection Act: Title VIII provisions on Energy Tax Incentives H.R. 1023/S. 777, Withholding Tax Relief Act of 2007, provisions on 3%Tax Withholding Law H.R. 3056, Tax Collection Responsibility Act, provisions on Withholding Delay, Prohibition on Private Debt Collection H.R. 5719, Taxpayer Assistance and Simplification Act of 2008: provisions on Withholding Delay, Prohibition on Private Debt Collection S. 2519, Contracting and Tax Accountability Act of 2007, provisions on Tax Delinquency for Contractors Tax Delinquency FAR Case 2006011: Tax certifications by contractors S. 2668, To amend the Internal Revenue Code of 1986 to remove cell phones from listed property under section 280F H.R. 3997, Emergency Economic Stabilization Act of 2008: all tax provisions and proposals H.R. 5351, Renewable Energy and Energy Conservation Tax Act of 2008, including the repeal of oil and gas tax credits. Senate Budget Resolution for FY2009: all tax provisions and proposals H.R. 3996, Temporary Tax Relief Act of 2007, including bonus depreciation and increased expensing. Estate/ Death Tax Issues 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. 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. 4235, Estate Tax Reduction Act of 2007 H.R. 4242, Certain and Immediate Estate Tax Relief Act of 2007 H.R. 3170, To make permanent the individual income tax rates for capital gains, and for other purposes. S.1726/H.R. 5267, Business Activity Tax Simplification Act of 2007. 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%. Research and Development Tax Credit Issues 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 S. 2293, Individual Alternative Minimum Tax Repeal Act of 2007 H.R. 4351, AMT Relief Act of 2007 S. 2199, Offshore Deferred Compensation Reform Act of 2007 H.R. 5267, Offshore Deferred Compensation Reform Act of 2007 H.R. 5140, Economic Stimulus Act of 2008, including the bonus depreciation, increased expensing and the tax portions of this Act H.R. 5109, Economic Growth Act S. 2592, A bill to amend the Internal Revenue Code of 1986 to provide for permanent tax incentives for economic growth Senator Specter Proposal to Promote Economic Growth (not introduced) H.R. 5720, Housing Assistance Tax Act S. 2821, Clean Energy Tax Stimulus Act H.R. 6049, Energy and Tax Extender Act of 2008 H.R. 6275, Alternative Minimum Tax Relief Act of 2008 H.R. 2642, War Supplemental: tax provisions and proposals S. 3125, Energy Independence and Tax Relief Act of 2008 S. 3044, Consumer-First Energy Act of 2008 H.R. 6601, Small Business Tax Modernization Act of 2008 H.R. 6617, Strengthening Communities Through Education and Integration Act of 2008 U.S. income tax treaties with Canada and Iceland New tax convention with Bulgaria H.R. 5793, the Cell Tax Fairness Act of 2008

S. 2920, SBA Reauthorization and Improvement Act of 2008 S.3362, SBIR/STTR Reauthorization Act of 2008 S. 555, SIMPLE Cafeteria Plan Act 2007 H.R. 749, Health Care Choices for Seniors Act H.R. 324, Working Families Wage and Access to Health Care Act H.R.241, Small Business Health Fairness Act of 2007 S. 2818, the Small Business Health Plans Act of 2008 S. 2795, the Small Business Health Options Program Act of 2008 H.R. 6852, Small Business CHOICE Act of 2008 H.R. 6601, Small Business Tax Modernization Act of 2008 Appointment of Sandy Baruah to the position of Administrator of the Small Business Administration (SBA)

Client expense: $20,600,000 · Firm income: Not reported

S2886/S3098/S3125/S3335/HR1424/HR2776/HR5351/HR6601/HR7060/HR7201/ -- Alternative Minimum Tax and Extenders Tax Relief Act; Energy Independence & Tax Relief Act; Jobs, Energy, Families, & Disaster Relief Act; Renewable Energy &Job Creation Act; Energy Improvement & Extension Act; Emergency Economic Stabilization Act; Small Business Tax Modernization -- IRA Charitable Rollover

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

Government targets: HOUSE OF REPRESENTATIVES, SENATE

S. 601, the Simplification Through Additional Reporting Tax Act of 2007 S. 777, to repeal the imposition of withholding on certain payments made to vendors by government entities. S. 819, the Public Good IRA Rollover Act of 2007 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes. S. 940, to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income (all provisions) 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. (all provisions) S. 1726, the Business Activity Tax Simplification Act (all provisions) S. 2394, the Good Government Contractor Act of 2007 (provision to repeal withholding requirement) S. 3063, the S Corporation Modernization Act S. 3254, the Small Bank Tax Equity Act S. 3335, the Jobs, Energy, Families, and Disaster Relief Act of 2008 (provisions to extend business-related tax provisions) H.R. 6, the Renewable Fuels, Consumer Protection, and Energy Efficiency Act of 2007 (S.Amdt. 1704, tax title provisions) H.R. 976, the Small Business Tax Relief Act of 2007 (all provisions) H.R. 1419, the Public Good IRA Rollover Act or 2007 - Amends the Internal Revenue Code to exclude from gross income distributions from individual retirement accounts for certain charitable purposes. H.R. 1424, the Emergency Economic Stabilization Act H.R. 1509, to amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income (all provisions) H.R. 1677, the Taxpayer Protection Act of 2007 (refund anticipation loan provisions) H.R. 1023, to repeal the impositions of withholding on certain payments made to vendors by government entities. H.R. 2370, to amend the Internal Revenue Code of 1986 to provide for the establishment of financial security accounts for the care of family members with disabilities. 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. 3056, the Tax Collection Responsibility Act of 2007 (all provisions) H.R. 3221, the American Housing Rescue and Foreclosure Prevention Act H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007 (all provisions) H.R. 3678, the Internet Tax Freedom Act Amendments Act of 2007 (all provisions) H.R. 3970, the Tax Reduction and Reform Act of 2007 (revenue offset provisions, including economic substance doctrine, cost basis reporting, and deferred compensation taxation) H.R. 3996, the Tax Increase Prevention Act of 2007 (mortgage debt forgiveness, revenue offset tax provisions) H.R. 3997, the Emergency Economic Stabilization Act H.R. 4351, the AMT Relief Act of 2007 (revenue offsets provisions on the economic substance doctrine, deferred offshore compensation for hedge fund managers, and interest expense allocation rules for multinational firms) H.R. 4840, the S Corporation Modernization Act (all provisions) H.R. 5267, the Business Activity Tax Simplification Act of 2008 (all provisions) H.R. 5720, the Housing Assistance Tax Act of 2008 (all provisions, including bond authority, tax credits, cost-basis reporting requirements, and IRS withholding requirements) H.R. 6049, the Renewable Energy and Job Creation Act of 2008 (tax extension provisions, including research and development tax credit, Subpart F and Section 355 (controlled foreign corporation) rules, new markets tax credit; revenue offsets including effective date of new interest expense allocation, changes to deferred compensation rules for managers of offshore hedge funds) H.R. 6275, the Alternative Minimum Tax Relief Act of 2008 (revenue offset provisions) H.R. 6333, the Municipal Bonds Market Support Act (all provisions) H.R. 6601, the Small Business Tax Modernization Act of 2008 (all provisions) H.R. 7060, the Renewable Energy and Job Creation Tax Act of 2008 (business tax provisions, revenue offsets) Draft Legislation to require Cost-Basis Reporting for Securities Credit Card Information Reporting Codification of the Economic Substance Doctrine Proposals to apply unrelated business income tax (UBIT) to credit unions Proposals on Estate and Gift Tax Reform Proposed Middle Class Job Security Act (corporate tax rate, net operating loss carry-back provisions) Proposed amendment to Section 67(e) tax deductibility of trustee fees