To amend the Internal Revenue Code of 1986 to provide for the treatment of securities of a controlled corporation exchanged for assets in certain reorganizations.

Section 420 rules on retiree plans Health care employer tax exclusion HR 2604 - Repeal of Reverse Morris Trust Tax loophole

Client expense: $175,000 · Firm income: Not reported

Government targets: Federal Aviation Administration (FAA), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Labor, Dept of (DOL), SENATE, Transportation Security Administration (TSA)

Section 420 rules on retiree plans Health care employer tax exclusion HR 2604 - Repeal of Reverse Morris Trust tax loophole

Client expense: $175,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Transportation Security Administration (TSA)

The IBEW lobbied Congress in support of H.R. 2604, legislation that would greatly restrict the use of an obscure corporate tax break known as the Reverse Morris Trust (RMT). To qualify, a corporation spins-off part of its operations into an unrelated company. If the shareholders of the original corporation control a majority of the voting rights and economic value of the new, merged company then the transaction is tax free. At a time when the federal government is struggling to find revenue, repealing this tax dodge would greatly assist the U.S. Treasury and middle-class taxpayers.

Client expense: $251,383 · Firm income: Not reported

Government targets: Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, SENATE, State, Dept of (DOS)

Section 420 rules on retiree plans Health care employer tax exclusion HR 2604 Repeal of Reverse Morris Trust

Client expense: $150,000 · Firm income: Not reported

Government targets: Federal Aviation Administration (FAA), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Transportation Security Administration (TSA), Transportation, Dept of (DOT)

Monitored legislation on E-Verify (HR 800, HR282, HR2604, S1196)

Client expense: $308,858 · Firm income: Not reported

Government targets: Defense, Dept of (DOD), Energy, Dept of, Export-Import Bank of the United States (EXIM Bank), HOUSE OF REPRESENTATIVES, SENATE, State, Dept of (DOS)