Parity for Non-Traded REITs Act

TCJA Permanency & Tax Issues in Biden Administrations Fiscal Year 2024 Budget General Explanations of the Administration's Fiscal Year 2024 Revenue Proposals: Prevent basis shifting by related parties through partnerships; Strengthen limitation on losses for non-corporate taxpayers; Expand and enhance the Low-Income Housing Tax Credit; Apply the net investment income tax to pass-through business income of high-income taxpayers; Increase the net investment income tax rate and additional Medicare tax rate for high-income taxpayers; Increase the top marginal income tax rate for high-income earners; Reform the taxation of capital income; Tax carried (profits) interests as ordinary income; Repeal deferral of gain from like-kind exchanges; and Require 100 percent depreciation recapture of depreciation deductions as ordinary income for certain depreciable real property. NMHC supports extending individual tax rates and 20 percent qualified business income tax deduction that expires at the end of 2025. Estate Tax, Stepped-Up Basis, and Taxation of Unrealized Capital Gains at Death NMHC supports making permanent the Estate Tax rules enacted as part of the Tax Cuts and Jobs Act of 2017. NMHC supports retaining current law providing for stepped-up basis at death and taxation of capital gains upon actual sale. S. 1108, Death Tax Repeal Act of 2023, all provisions. Carried Interest NMHC believes that carried interest should be treated as a long-term capital gain if the underlying asset is held for at least one year.  Like-Kind Exchanges NMHC supports retaining current law. Low-Income Housing Tax Credit (LIHTC) and Middle-Income Housing Tax Credit (MIHTC) S. 680, Decent, Affordable, Safe Housing for All Act (DASH Act), to provide rental housing vouchers for the homeless, and for other purposes, Title I -- Housing Assistance, Subtitle A -- General Housing Assistance, Section 111: Rental Vouchers for the Homeless, portion of section pertaining to source of income rules; and Section 114: Supporting pro-housing development; Title II -- Revenue Provisions: Sections 201-210 pertaining to the Low-Income Housing Tax Credit; Section 211: Study of tax incentives for the conversion of commercial property to affordable housing; Section 212: Renter's credit; and Section 213: Middle-income housing tax credit. S. 2820 (117th Congress), Decent, Affordable, Safe Housing for All Act (DASH Act), to provide rental housing vouchers for the homeless, and for other purposes, Title I -- Housing Assistance, Subtitle A -- General Housing Assistance, Section 111: Rental Vouchers for the Homeless, portion of section pertaining to source of income rules; Title II -- Revenue Provisions: Sections 201-214 pertaining to the Low-Income Housing Tax Credit, Section 215 establishing a renter's tax credit, and Section 216 establishing a middle-income housing tax credit. Draft legislation, Workforce Housing Tax Credit Act of 2022, to amend the Internal Revenue Code of 1986 to establish a Workforce Housing Tax Credit, and for other purposes, all provisions. H.R. 2573 (117th Congress), Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions and recommendations for modifications to existing provisions and potential new provisions for inclusion when bills are reintroduced in 118th Congress. S. 1136 (117th Congress), Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions and recommendations for modifications to existing provisions and potential new provisions for inclusion when bills are reintroduced in 118th Congress. Draft legislation (117th Congress), to amend the Internal Revenue Code of 1986 to improve the low-income housing tax credit, Section 6: Increase in credit for projects designated to serve households with people with disabilities and Section 7: Requirement for projects designated to serve households with people with disabilities. NMHC supports increasing the private-activity bond volume cap to increase the use of 4 percent Low-Income Housing Tax Credits. Adaptive Reuse Federal tax policies impacting the conversion of property (e.g., conversion of office buildings into housing) to encourage repurposing of non-residential properties into residential rental property, including proposals to establish tax credits and to enable jurisdictions that reduce zoning barriers to use tax-exempt bonds to encourage repurposing of non-residential properties into residential rental property. H.R. 419, Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. S. 2511 (117th Congress), Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. Opportunity Zones NMHC supports reducing the basis increase necessary to qualify a multifamily rehabilitation project for Opportunity Zone purposes. Rehabilitation Tax Credit H.R. 1483 (117th Congress), Revitalizing Economies, Housing, and Businesses Act of 2021 or the REHAB Act of 2021, to amend the Internal Revenue Code of 1986 to modify the rehabilitation credit, all provisions. Foreign Investment in Real Property Tax Act (FIRPTA) H.R. 3123 (117th Congress), Parity for Non-Traded REITs Act, to amend the Internal Revenue Code of 1986 to provide the same treatment to publicly offered, non-traded Real Estate Investment Trusts as is provided to exchange-traded Real Estate Investment Trusts under the Foreign Investment in Real Property Tax Act of 1980, all provisions. Department of the Treasury, Internal Revenue Service, 26 CFR Part 1, REG-100442-22, RIN 1545-BQ36, Guidance on the Foreign Government Income Exception and the Definition of Domestically Controlled Qualified Investment Entities, portion of proposed regulation pertaining to the definition of domestically controlled qualified investment entities.

Client expense: $2,333,138 · Firm income: Not reported

Government targets: Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Natl Economic Council (NEC), SENATE, Treasury, Dept of

TCJA Permanency & Tax Issues in Biden Administrations Fiscal Year 2024 Budget General Explanations of the Administration's Fiscal Year 2024 Revenue Proposals: Prevent basis shifting by related parties through partnerships; Strengthen limitation on losses for non-corporate taxpayers; Expand and enhance the Low-Income Housing Tax Credit; Apply the net investment income tax to pass-through business income of high-income taxpayers; Increase the net investment income tax rate and additional Medicare tax rate for high-income taxpayers; Increase the top marginal income tax rate for high-income earners; Reform the taxation of capital income; Tax carried (profits) interests as ordinary income; Repeal deferral of gain from like-kind exchanges; and Require 100 percent depreciation recapture of depreciation deductions as ordinary income for certain depreciable real property. NMHC supports extending individual tax rates and 20 percent qualified business income tax deduction that expires at the end of 2025. Estate Tax, Stepped-Up Basis, and Taxation of Unrealized Capital Gains at Death NMHC supports making permanent the Estate Tax rules enacted as part of the Tax Cuts and Jobs Act of 2017. NMHC supports retaining current law providing for stepped-up basis at death and taxation of capital gains upon actual sale. S. 1108, Death Tax Repeal Act of 2023, all provisions. Carried Interest NMHC believes that carried interest should be treated as a long-term capital gain if the underlying asset is held for at least one year.  Like-Kind Exchanges NMHC supports retaining current law. Low-Income Housing Tax Credit (LIHTC) and Middle-Income Housing Tax Credit (MIHTC) S. 680, Decent, Affordable, Safe Housing for All Act (DASH Act), to provide rental housing vouchers for the homeless, and for other purposes, Title I -- Housing Assistance, Subtitle A -- General Housing Assistance, Section 111: Rental Vouchers for the Homeless, portion of section pertaining to source of income rules; and Section 114: Supporting pro-housing development; Title II -- Revenue Provisions: Sections 201-210 pertaining to the Low-Income Housing Tax Credit; Section 211: Study of tax incentives for the conversion of commercial property to affordable housing; Section 212: Renter's credit; and Section 213: Middle-income housing tax credit. S. 2820 (117th Congress), Decent, Affordable, Safe Housing for All Act (DASH Act), to provide rental housing vouchers for the homeless, and for other purposes, Title I -- Housing Assistance, Subtitle A -- General Housing Assistance, Section 111: Rental Vouchers for the Homeless, portion of section pertaining to source of income rules; Title II -- Revenue Provisions: Sections 201-214 pertaining to the Low-Income Housing Tax Credit, Section 215 establishing a renter's tax credit, and Section 216 establishing a middle-income housing tax credit. Draft legislation, Workforce Housing Tax Credit Act of 2022, to amend the Internal Revenue Code of 1986 to establish a Workforce Housing Tax Credit, and for other purposes, all provisions. H.R. 2573 (117th Congress), Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions and recommendations for modifications to existing provisions and potential new provisions for inclusion when bills are reintroduced in 118th Congress. S. 1136 (117th Congress), Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions and recommendations for modifications to existing provisions and potential new provisions for inclusion when bills are reintroduced in 118th Congress. Draft legislation (117th Congress), to amend the Internal Revenue Code of 1986 to improve the low-income housing tax credit, Section 6: Increase in credit for projects designated to serve households with people with disabilities and Section 7: Requirement for projects designated to serve households with people with disabilities. NMHC supports increasing the private-activity bond volume cap to increase the use of 4 percent Low-Income Housing Tax Credits. Adaptive Reuse Federal tax policies impacting the conversion of property (e.g., conversion of office buildings into housing) to encourage repurposing of non-residential properties into residential rental property, including proposals to establish tax credits and to enable jurisdictions that reduce zoning barriers to use tax-exempt bonds to encourage repurposing of non-residential properties into residential rental property. H.R. 419, Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. S. 2511 (117th Congress), Revitalizing Downtowns Act, to amend the Internal Revenue Code of 1986 to provide an investment credit for the conversion of office buildings into other uses, all provisions. Opportunity Zones NMHC supports reducing the basis increase necessary to qualify a multifamily rehabilitation project for Opportunity Zone purposes. Rehabilitation Tax Credit H.R. 1483 (117th Congress), Revitalizing Economies, Housing, and Businesses Act of 2021 or the REHAB Act of 2021, to amend the Internal Revenue Code of 1986 to modify the rehabilitation credit, all provisions. Foreign Investment in Real Property Tax Act (FIRPTA) H.R. 3123 (117th Congress), Parity for Non-Traded REITs Act, to amend the Internal Revenue Code of 1986 to provide the same treatment to publicly offered, non-traded Real Estate Investment Trusts as is provided to exchange-traded Real Estate Investment Trusts under the Foreign Investment in Real Property Tax Act of 1980, all provisions. Department of the Treasury, Internal Revenue Service, 26 CFR Part 1, REG-100442-22, RIN 1545-BQ36, Guidance on the Foreign Government Income Exception and the Definition of Domestically Controlled Qualified Investment Entities, portion of proposed regulation pertaining to the definition of domestically controlled qualified investment entities.

H.R. 3123, Parity for Non-Traded REITs Act, all provisions. H.R. 5376, Build Back Better Act, and Inflation Adjustment Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

Client expense: $65,000 · Firm income: Not reported

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

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act HR3925 - SHELTER Act HR5565 - Banana Stand Money Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Communications with the House of Representatives re: the SALT cap. Section 199A Deduction HR1381 - Main Street Certainty Act HR5376 - Inflation Reduction Act of 2022S480 - Main Street Tax Certainty Act S2387, the Small Business Tax Fairness Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction. Opportunity Zones HR970 - The Opportunity Zone Extension Act HR4177 - The Expanding Opportunity Zones Act Communications with the U.S. Senate in support of extending the Qualified Opportunity Zone program deadlines. Section 1031 Like-Kind Exchanges HR1742 - The Real Estate Exchange Fairness Act HR5376 - Inflation Reduction Act of 2022 Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit HR4204, the Affordable House Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply HR2617 - Consolidated Appropriations Act, 2023 Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act HR5376 - Inflation Reduction Act of 2022 S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2617 - Consolidated Appropriations Act, 2023 HR2768 - American Housing and Economic Mobility Act HR5376 - Inflation Reduction Act of 2022 S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Commercial Real Estate Conversion Tax Credits HR4759 - The Revitalizing Downtowns Act S2511 - The Revitalizing Downtowns Act Discussions with the House and Senate regarding policy proposals to encourage converting underutilized commercial real estate into residential housing units. Carried Interest HR1068 - The Carried Interest Fairness Act HR5376 - Inflation Reduction Act of 2022 S1598 - Carried Interest Fairness Act of 2021 Capital Gains HR9015 - More Homes on the Market Act Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act HR5376 - Inflation Reduction Act of 2022 Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Partnership Tax Rules Communications with the Senate Finance Committee about proposed legislation to change the partnership tax rules Tax Reform HR2275 - The Mortgage Debt Tax Forgiveness Act HR2276 - the Mortgage Insurance Tax Deduction Act HR2286 - A bill to treat property transferred by gift or at death as sold for fair market value HR5376 - Inflation Reduction Act of 2022 S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision and in support of increasing the section 121 IRC exclusion. Infrastructure Proposals HR5376 - Inflation Reduction Act of 2022 Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan The Historic Tax Credit HR2266 - The Historic Tax Credit Growth and Opportunity Act HR2294 - The Historic Tax Credit Growth and Opportunity Act COVID-19 Recovery Communications with the U.S. House of Representatives and the U.S. Senate regarding the Coronavirus Recovery Fund Housing Tax Credit Statute Adjustment. Depreciation of Real Property HR7229 - Renewing Investment in American Workers and Supply Chains Act Tax incentives for housing Discussions with the House and Senate regarding policy proposals to give tax incentives for the production of residential units. Net Investment Income Tax Communications with Congressional leadership opposing the 3.8% net investment income tax. Middle Income Housing Tax Credit Discussions with the House and Senate regarding creating a "middle income housing tax credit." Mortgage Insurance Tax Deduction Conversations with the Senate Finance Committee and the House Ways and Means Committee regarding mortgage insurance tax deduction policies.

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act and Inflation Adjustment Act of 2022, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts. H.R. 3123, Parity for Non-Traded REITs Act, all provisions.

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

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

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) and Inflation Reduction Act Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property, including S.4012 and H.R. 7229 Low-income housing tax credit Proposed and final tax regulations under sections 897 and 892 REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions; including S. 4065 and H.R. 7467 Estate tax valuation discounts and rules for grantor trusts Revitalizing Downtowns Act (S. 2511 and H.R. 4759) Passive Foreign Investment Company proposed tax regulations (REG-118250-20) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act (HR 89) Business interest deductibility and section 163(j) Active loss limitation and section 461(l)

Client expense: $913,660 · Firm income: Not reported

H.R. 3123, Parity for Non-Traded REITs Act, all provisions. H.R. 5376, Build Back Better Act, and Inflation Adjustment Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

Client expense: $70,000 · Firm income: Not reported

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

Like Kind Exchanges Parity for Non-Traded REITs Act (H.R. 3123) Foreign Investment in Real Property Tax Act (FIRPTA) REIT Tax Modernization Energy Efficient Qualified Improvement Property (E-QIP)(H.R. 8930) Retail Revitalization Act (H.R. 840) REIT Constructive Ownership Proposals (S.2715) International Tax Proposals Infrastructure Tax Proposals GREEN Act of 2021 (H.R. 848) Inflation Reduction Act Clean Energy for America Act (S.2118) Renewable Energy Investment Act (H.R. 3180) Stock Buy Back Proposals (S. 2758) Renewing Investment in American Workers & Supply Chains Act (HR 7229, S. 4012) Revitalizing Downtowns Act (HR 4759, S.2511) Permanently Preserving America's Investment in Manufacturing Act (HR 5371, S. 1077) Monitor residential rental issues Monitor lodging issues Monitor skilled nursing facility issues

Client expense: $1,074,000 · Firm income: Not reported

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act HR3925 - SHELTER Act HR5565 - Banana Stand Money Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Communications with the House of Representatives re: the SALT cap. Section 199A Deduction HR1381 - Main Street Certainty Act HR5376 - Inflation Reduction Act of 2022S480 - Main Street Tax Certainty Act S2387, the Small Business Tax Fairness Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction. Opportunity Zones HR970 - The Opportunity Zone Extension Act HR4177 - The Expanding Opportunity Zones Act Communications with the U.S. Senate in support of extending the Qualified Opportunity Zone program deadlines. Section 1031 Like-Kind Exchanges HR1742 - The Real Estate Exchange Fairness Act HR5376 - Inflation Reduction Act of 2022 Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit HR4204, the Affordable House Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act HR5376 - Inflation Reduction Act of 2022 S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2768 - American Housing and Economic Mobility Act HR5376 - Inflation Reduction Act of 2022 S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Commercial Real Estate Conversion Tax Credits HR4759 - The Revitalizing Downtowns Act S2511 - The Revitalizing Downtowns Act Discussions with the House and Senate regarding policy proposals to encourage converting underutilized commercial real estate into residential housing units. Carried Interest HR1068 - The Carried Interest Fairness Act HR5376 - Inflation Reduction Act of 2022 S1598 - Carried Interest Fairness Act of 2021 Capital Gains HR9015 - More Homes on the Market Act Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act HR5376 - Inflation Reduction Act of 2022 Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Partnership Tax Rules Communications with the Senate Finance Committee about proposed legislation to change the partnership tax rules Tax Reform HR2275 - The Mortgage Debt Tax Forgiveness Act HR2276 - the Mortgage Insurance Tax Deduction Act HR2286 - A bill to treat property transferred by gift or at death as sold for fair market value HR5376 - Inflation Reduction Act of 2022 S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision and in support of increasing the section 121 IRC exclusion. Infrastructure Proposals HR5376 - Inflation Reduction Act of 2022 Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan The Historic Tax Credit HR2266 - The Historic Tax Credit Growth and Opportunity Act HR2294 - The Historic Tax Credit Growth and Opportunity Act COVID-19 Recovery Communications with the U.S. House of Representatives and the U.S. Senate regarding the Coronavirus Recovery Fund Housing Tax Credit Statute Adjustment. Depreciation of Real Property HR7229 - Renewing Investment in American Workers and Supply Chains Act Tax incentives for housing Discussions with the House and Senate regarding policy proposals to give tax incentives for the production of residential units. Net Investment Income Tax Communications with Congressional leadership opposing the 3.8% net investment income tax. Middle Income Housing Tax Credit Discussions with the House and Senate regarding creating a "middle income housing tax credit."

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) and Inflation Reduction Act Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property, including S.4012 and H.R. 7229 Low-income housing tax credit Contributions in Aid of Construction (Sec. 118) REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) Employee retention tax credit Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions; including S. 4065 and H.R. 7467 Estate tax valuation discounts and rules for grantor trusts Portfolio interest exemption and inbound real estate investment Electric vehicle charging infrastructure tax incentives Revitalizing Downtowns Act (S. 2511 and H.R. 4759) Passive Foreign Investment Company proposed tax regulations (REG-118250-20) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal TCJA Permanency Act (HR 89) Business interest deductibility and section 163(j) Active loss limitation and section 461(l)

Client expense: $1,278,075 · Firm income: Not reported

Like Kind Exchanges Parity for Non-Traded REITs Act (H.R. 3123) Foreign Investment in Real Property Tax Act (FIRPTA) REIT Tax Modernization Energy Efficient Qualified Improvement Property (E-QIP)(H.R. 8930) Retail Revitalization Act (H.R. 840) REIT Constructive Ownership Proposals (S.2715) International Tax Proposals Infrastructure Tax Proposals GREEN Act of 2021 (H.R. 848) Inflation Reduction Act Clean Energy for America Act (S.2118) Renewable Energy Investment Act (H.R. 3180) Stock Buy Back Proposals (S. 2758) Renewing Investment in American Workers & Supply Chains Act (HR 7229, S. 4012) Revitalizing Downtowns Act (HR 4759, S.2511) Monitor residential rental issues Monitor lodging issues Monitor skilled nursing facility issues

Client expense: $1,074,000 · Firm income: Not reported

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act and Inflation Adjustment Act of 2022, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts. H.R. 3123, Parity for Non-Traded REITs Act, all provisions.

Client expense: Not reported · Firm income: $56,000

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

H.R. 3123, Parity for Non-Traded REITs Act, all provisions. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

Client expense: $65,000 · Firm income: Not reported

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

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act HR3925 - SHELTER Act HR5565 - Banana Stand Money Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Communications with the House of Representatives re: the SALT cap. Section 199A Deduction HR1381 - Main Street Certainty Act S480 - Main Street Tax Certainty Act S2387, the Small Business Tax Fairness Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction. Opportunity Zones HR970 - The Opportunity Zone Extension Act HR4177 - The Expanding Opportunity Zones Act Communications with the U.S. Senate in support of extending the Qualified Opportunity Zone program deadlines. Section 1031 Like-Kind Exchanges HR1742 - The Real Estate Exchange Fairness Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit HR4204, the Affordable House Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2768 - American Housing and Economic Mobility Act S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Commercial Real Estate Conversion Tax Credits HR4759 - The Revitalizing Downtowns Act S2511 - The Revitalizing Downtowns Act Carried Interest HR1068 - The Carried Interest Fairness Act S1598 - Carried Interest Fairness Act of 2021 Capital Gains Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Partnership Tax Rules Communications with the Senate Finance Committee about proposed legislation to change the partnership tax rules Tax Reform HR2275 - The Mortgage Debt Tax Forgiveness Act HR2276 - the Mortgage Insurance Tax Deduction Act HR2286 - A bill to treat property transferred by gift or at death as sold for fair market value S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision and in support of increasing the section 121 IRC exclusion. Infrastructure Proposals HR5376 - Build Back Better Act Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan The Historic Tax Credit HR2266 - The Historic Tax Credit Growth and Opportunity Act HR2294 - The Historic Tax Credit Growth and Opportunity Act COVID-19 Recovery Communications with the U.S. House of Representatives and the U.S. Senate regarding the Coronavirus Recovery Fund Housing Tax Credit Statute Adjustment. Depreciation of Real Property HR722 9 - Renewing Investment in American Workers and Supply Chains Act Tax incentives for housing Discussions with the House and Senate regarding policy proposals to give tax incentives for the production of residential units.

Like Kind Exchanges Parity for Non-Traded REITs Act (H.R. 3123) Foreign Investment in Real Property Tax Act (FIRPTA) REIT Tax Modernization Energy Efficient Qualified Improvement Property (E-QIP)(H.R. 8930) Retail Revitalization Act (H.R. 840) REIT Constructive Ownership Proposals (S.2715) International Tax Proposals Infrastructure Tax Proposals GREEN Act of 2021 (H.R. 848) Build Back Better Plan Clean Energy for America Act (S.2118) Renewable Energy Investment Act (H.R. 3180) Stock Buy Back Proposals (S. 2758) Renewing Investment in American Workers & Supply Chains Act (HR 7229, S. 4012) Monitor residential rental issues Monitor skilled nursing facility issues

Client expense: $953,000 · Firm income: Not reported

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts. H.R. 3123, Parity for Non-Traded REITs Act, all provisions.

Client expense: Not reported · Firm income: $56,000

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

Like Kind Exchanges Parity for Non-Traded REITs Act (H.R. 3123) Foreign Investment in Real Property Tax Act (FIRPTA) REIT Tax Modernization Energy Efficient Qualified Improvement Property (E-QIP)(H.R. 8930) Retail Revitalization Act (H.R. 840) International Tax Proposals Infrastructure Tax Proposals GREEN Act of 2021 (H.R. 848) Build Back Better Plan Clean Energy for America Act (S.2118) Renewable Energy Investment Act (H.R. 3180) Stock Buy Back Proposals (S. 2758) Renewing Investment in American Workers & Supply Chains Act (HR 7229, S. 4012) Monitor residential rental issues Monitor skilled nursing facility issues

Client expense: $953,000 · Firm income: Not reported

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property, including S.4012 and H.R. 7229 Low-income housing tax credit Contributions in Aid of Construction (Sec. 118) REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) Employee retention tax credit Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income, including Senator Wyden pass-through reform discussion draft Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions; including S. 4065 and H.R. 7467 Estate tax valuation discounts and rules for grantor trusts Portfolio interest exemption and inbound real estate investment Electric vehicle charging infrastructure tax incentives Revitalizing Downtowns Act (S. 2511 and H.R. 4759) Passive Foreign Investment Company proposed tax regulations (REG-118250-20) Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal

Client expense: $1,039,338 · Firm income: Not reported

Like Kind Exchanges Parity for Non-Traded REITs Act (H.R. 3123) REIT Tax Modernization Built-In Gains Energy Efficient Qualified Improvement Property (E-QIP)(H.R. 8930) Retail Revitalization Act (H.R. 840) REIT Constructive Ownership Proposals (S.2715) International Tax Proposals Infrastructure Tax Proposals Mark to Market Proposals Main Street Tax Certainty Act of 2021 (H.R. 1381, S. 480) GREEN Act of 2021 (H.R. 848) Build Back Better Plan Clean Energy for America Act (S.2118) Renewable Energy Investment Act (H.R. 3180) Modernization of Derivatives Act (S.2621)

Client expense: $970,000 · Firm income: Not reported

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act HR3925 - SHELTER Act HR5565 - Banana Stand Money Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Communications with the House of Representatives re: the SALT cap. Section 199A Deduction HR1381 - Main Street Certainty Act S480 - Main Street Tax Certainty Act S2387, the Small Business Tax Fairness Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction Opportunity Zones HR970 - The Opportunity Zone Extension Act HR4177 - The Expanding Opportunity Zones Act Communications with the U.S. Senate in support of extending the Qualified Opportunity Zone program deadlines. Section 1031 Like-Kind Exchanges HR1742 - The Real Estate Exchange Fairness Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit HR4204, the Affordable House Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2768 - American Housing and Economic Mobility Act S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Commercial Real Estate Conversion Tax Credits HR4759 - The Revitalizing Downtowns Act S2511 - The Revitalizing Downtowns Act Carried Interest HR1068 - The Carried Interest Fairness Act S1598 - Carried Interest Fairness Act of 2021 Capital Gains Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Partnership Tax Rules Communications with the Senate Finance Committee about proposed legislation to change the partnership tax rules Tax Reform HR2275 - The Mortgage Debt Tax Forgiveness Act HR2276 - the Mortgage Insurance Tax Deduction Act HR2286 - A bill to treat property transferred by gift or at death as sold for fair market value S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision Infrastructure Proposals HR5376 - Build Back Better Act Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan The Historic Tax Credit HR2266 - The Historic Tax Credit Growth and Opportunity Act HR2294 - The Historic Tax Credit Growth and Opportunity Act COVID-19 Recovery Communications with the U.S. House of Representatives and the U.S. Senate regarding the Coronavirus Recovery Fund Housing Tax Credit Statute Adjustment. Depreciation of Real Property HR722 9 - Renewing Investment in American Workers and Supply Chains Act

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts. H.R.3123, Parity for Non-Traded REITs Act, all provisions.

Client expense: $65,000 · Firm income: Not reported

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

Like Kind Exchanges Parity for Non-Traded REITs Act (H.R. 3123) REIT Tax Modernization Built-In Gains Energy Efficient Qualified Improvement Property (E-QIP)(H.R. 8930) Retail Revitalization Act (H.R. 840) REIT Constructive Ownership Proposals (S.2715) International Tax Proposals Infrastructure Tax Proposals Mark to Market Proposals Main Street Tax Certainty Act of 2021 (H.R. 1381, S. 480) GREEN Act of 2021 (H.R. 848) Build Back Better Plan Clean Energy for America Act (S.2118) Renewable Energy Investment Act (H.R. 3180) Stock Buy Back Proposals (S. 2758) Modernization of Derivatives Act (S.2621)

Client expense: $970,000 · Firm income: Not reported

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts. H.R. 3123, Parity for Non-Traded REITs Act, all provisions.

Client expense: Not reported · Firm income: $56,000

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

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability Cost recovery, residential rental property and nonresidential property, including S.4012 and H.R. 7229 Low-income housing tax credit Contributions in Aid of Construction (Sec. 118) REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) Employee retention tax credit Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions; including S. 4065 and H.R. 7467 Estate tax valuation discounts and rules for grantor trusts Portfolio interest exemption and inbound real estate investment Electric vehicle charging infrastructure tax incentives Revitalizing Downtowns Act (S. 2511 and H.R. 4759) Passive Foreign Investment Company tax regulations Taxing unrealized gains annually - Administration's minimum tax proposal and Chairman Wyden proposal

Client expense: $1,126,000 · Firm income: Not reported

Reconciliation Legislation Senate Finance Committee, Draft Text of Build Back Better Act, Title XII -- Committee on Finance, Subtitle E -- Infrastructure Financing and Community Development, Part 1 -- Low-Income Housing Credit, Section 125101: Increases in State Allocations, Section 125102: Tax-Exempt Bond Financing Requirement; and Section 125103: Buildings Designated to Serve Extremely Low-Income Households; Subtitle F -- Green Energy, Part 3 -- Green Energy and Efficiency Incentives for Individuals, Section 126303: Energy Efficient Commercial Buildings Deduction and Section 126304: Extension, Increase, and Modifications of New Energy Efficient Home Credit; Subtitle H -- Responsibly Funding Our Priorities, Part 1 -- Corporate and International Tax Reforms, Subpart A -- Corporate Tax Rate, Section 128101: Corporate Alternative Minimum Tax; Part 2: Tax Increases for High-Income Individuals, Section 128201: Application of Net Investment Income Tax to Trade or Business Income of Certain High Income Individuals, Section 128202: Limitations on Excess Business Losses of Noncorporate Taxpayers, and Section 128203: Surcharge on High Income Individuals, Estates, and Trusts. H.R. 5376 (as amended by House Rules Committee Print 117-18, the version of the bill that passed the House of Representatives November 19, 2021), Build Back Better Act, Title XIII -- Committee on Ways and Means, Subtitle E -- Infrastructure Financing and Community Development, Part 1 -- Low Income Housing Credit, Section 135101: Increase in State Allocations, Section 135102: Tax-Exempt Bond Financing Requirement, and Section 135103 Buildings Designated to Serve Extremely Low-Income Households; Subtitle F -- Green Energy, Part 3 -- Green Energy and Efficiency Incentives for Individuals, Section 136303: Energy Efficient Commercial Buildings Deduction and Section 136304: Extension, Increase, and Modifications of New Energy Efficient Home Credit. Subtitle H -- Responsibly Funding Our Priorities, Part 1 -- Corporate and International Tax Reforms, Subpart A -- Corporate Tax Rate, Section 138101: Corporate Alternative Minimum Tax; Part 2: Tax Increases for High-Income Individuals, Section 138201: Application of Net Investment Income Tax to Trade or Business Income of Certain High Income Individuals, Section 138202: Limitations on Excess Business Losses of Noncorporate Taxpayers, and Section 138203: Surcharge on High Income Individuals, Estates, and Trusts. Low-Income Housing Tax Credit and Middle-Income Housing Tax Credit Support making permanent and augmenting by an additional 50 percent the increased Low-Income Housing Tax Credit authority enacted in March 2018 to enable the production of new units. H.R. 2573 / S. 1136, Affordable Housing Credit Improvement Act of 2021, to reform the low-income housing credit, and for other purposes, all provisions. S. 2820, Decent, Affordable, Safe Housing for All Act (DASH Act), to provide rental housing vouchers for the homeless, and for other purposes, Title I -- Housing Assistance, Subtitle A -- General Housing Assistance, Section 111: Rental Vouchers for the Homeless, portion of section pertaining to source of income rules; Title II -- Revenue Provisions: Sections 201-214 pertaining to the Low-Income Housing Tax Credit, Section 215 establishing a renter's tax credit, and Section 216 establishing a middle-income housing tax credit. H.R. 7078, LIHTC Financing Enabling Long-term Investment in Neighborhood Excellence (LIFELINE) Act, to amend title VI of the Social Security Act to allow coronavirus State and local fiscal recovery funds to be used for low-income housing credit projects, all provisions. Signed letter of trade associations (sent April 5, 2022) to Secretary of Treasury Janet Yellen requesting that the Treasury Department preserve the value of community development tax incentives, including the Low-Income Tax Credit, as the OECD moves forward on Pillar 2 rules establishing a global minimum tax. Biden Administration Tax Proposals General Explanations of the Administration's Fiscal Year 2023 Revenue Proposals: Prevent basis shifting by related parties through partnerships; allow selective basis boosts for bond-financed low-income housing tax credit projects; increase the top marginal income tax rate for high earners; reform the taxation of capital income; impose a minimum tax on the wealthiest taxpayers, tax carried (profits) interests as ordinary income; repeal deferral of gain from like-kind exchanges; and require 100 percent depreciation recapture of depreciation deductions as ordinary income for certain depreciable property. Like-kind exchanges: Support retaining current law. Capital Gains - Oppose doubling the long-term capital gains tax rate and support significant differential between ordinary income and capital gains tax rates. Carried interest: NMHC believes that carried interest should be treated as a long-term capital gain if the underlying asset is held for at least one year. Stepped-Up Basis at Death and Taxation of Unrealized Capital Gains at Death: Support retaining current law providing for stepped-up basis at death and taxation of capital gains upon actual sale. Estate Tax: Support making permanent the Estate Tax rules enacted as part of the Tax Cuts and Jobs Act of 2017. Opportunity Zones Support reducing the basis increase necessary to qualify a multifamily rehabilitation project for Opportunity Zone purposes. Real Estate Investment Trusts H.R. 3123, Parity for Non-Traded REITs Act, to amend the Internal Revenue Code of 1986 to provide the same treatment to publicly offered, non-traded Real Estate Investment Trusts as is provided to exchange-traded Real Estate Investment Trusts under the Foreign Investment in Real Property Tax Act of 1980, all provisions. Supported House bill and also requested introduction of companion legislation in the Senate. Adaptive Reuse Federal tax policies impacting the conversion of property (e.g, conversion of office buildings into housing)

H.R. 1068 -Carried Interest Fairness Act of 2021 H.R. 1321 -NMTC Extension Act of 2021 H.R. 1381 -Mainstreet Tax Certainty Act H.R. 1483 -REHAB Act of 2021 H.R. 1977 -Enhancing Credit Opportunities in Rural America Act H.R. 2143 -Neighborhood Homes Investment Act H.R. 2188 -Reopening America by Supporting Workers and Businesses Act H.R. 2189 -State Tax Freedom Act H.R. 2286 -taxes property transferred by gift or death as sold at market value H.R. 2288 -Investing in Our Communities Act H.R. 2294 -Historic Tax Credit Growth and Opportunity Act H.R. 2439 -SALT Fairness for Working Families Act H.R. 2558 -ALIGN Act H.R. 2573 -Affordable Housing Credit Improvement Act H.R. 2768 -American Housing and Economic Mobility Act of 2021 H.R. 2863 -First Time Homebuyer Act H.R. 3123 -Parity for Non-Traded REITS Act H.R. 3178 -Estate Tax Rate Reduction Act H.R. 3265 -Middle Class Savings Act H.R. 3324 -Incentivize Residential Energy Efficiency Act H.R. 3357 -Rural Jobs Act H.R. 3725 -Relief and Equity Through Small Business Tax Act H.R. 3805 -Millionaires Surtax Act H.R. 3903 -Tax Fairness Act H.R. 4165 -Uplifting First-Time Homebuyers Act of 2021 H.R. 4177 -Expanding Opportunity Zones Act H.R. 4940 -Real Corporate Profits Tax Act of 2021 H.R. 5376 -Build Back Better Act S. 98 -Neighborhood Homes Investment Act S. 456 -New Markets Tax Credit Extension Act of 2021 S. 480-Mainstreet Tax Certainty Act S. 1027-Tax Assistance for Crumbling Foundations Act S. 1136-Affordable Housing Credit Improvement Act S. 1166-Align Act S. 1368-American Housing and Economic Mobility Act S. 1403-Move America Act S. 1479-Home Lead Safety Credit Improvement Act S. 1499-REPAIR Act S. 1519-Save Hotel Jobs Act S. 1598-Carried Interest Fairness Act of 2021 S. 1627-Estate Tax Reduction Act S. 1652-Paying Fair Share Act S. 1653-SMART Act S. 1671-Rural Jobs Act S. 1753-Home Energy Savings Act S. 1768-Hope for HOMES Act S. 1805-SHELTER Act S. 2028-Millionaires Surtax Act S. 2234-Affordable Homes Act S. 2266-Historic Tax Credit Growth and Opportunity Act S. 2680-Real Corporate Profits Tax Act of 2021 S. 2820-DASH Act

H.R. 1068 -Carried Interest Fairness Act of 2021 H.R. 1321 -NMTC Extension Act of 2021 H.R. 1381 -Mainstreet Tax Certainty Act H.R. 1483 -REHAB Act of 2021 H.R. 1977 -Enhancing Credit Opportunities in Rural America Act H.R. 2143 -Neighborhood Homes Investment Act H.R. 2188 -Reopening America by Supporting Workers and Businesses Act H.R. 2189 -State Tax Freedom Act H.R. 2286 -taxes property transferred by gift or death as sold at market value H.R. 2288 -Investing in Our Communities Act H.R. 2294 -Historic Tax Credit Growth and Opportunity Act H.R. 2439 -SALT Fairness for Working Families Act H.R. 2558 -ALIGN Act H.R. 2573 -Affordable Housing Credit Improvement Act H.R. 2768 -American Housing and Economic Mobility Act of 2021 H.R. 2863 -First Time Homebuyer Act H.R. 3123 -Parity for Non-Traded REITS Act H.R. 3178 -Estate Tax Rate Reduction Act H.R. 3265 -Middle Class Savings Act H.R. 3324 -Incentivize Residential Energy Efficiency Act H.R. 3357 -Rural Jobs Act H.R. 3725 -Relief and Equity Through Small Business Tax Act H.R. 3805 -Millionaires Surtax Act H.R. 3903 -Tax Fairness Act H.R. 4165 -Uplifting First-Time Homebuyers Act of 2021 H.R. 4177 -Expanding Opportunity Zones Act H.R. 4940 -Real Corporate Profits Tax Act of 2021 H.R. 5376 -Build Back Better Act S. 98 -Neighborhood Homes Investment Act S. 456 -New Markets Tax Credit Extension Act of 2021 S. 480-Mainstreet Tax Certainty Act S. 1027-Tax Assistance for Crumbling Foundations Act S. 1136-Affordable Housing Credit Improvement Act S. 1166-Align Act S. 1368-American Housing and Economic Mobility Act S. 1403-Move America Act S. 1479-Home Lead Safety Credit Improvement Act S. 1499-REPAIR Act S. 1519-Save Hotel Jobs Act S. 1598-Carried Interest Fairness Act of 2021 S. 1627-Estate Tax Reduction Act S. 1652-Paying Fair Share Act S. 1653-SMART Act S. 1671-Rural Jobs Act S. 1753-Home Energy Savings Act S. 1768-Hope for HOMES Act S. 1805-SHELTER Act S. 2028-Millionaires Surtax Act S. 2234-Affordable Homes Act S. 2266-Historic Tax Credit Growth and Opportunity Act S. 2680-Real Corporate Profits Tax Act of 2021 S. 2820-DASH Act

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act HR3925 - SHELTER Act HR5565 - Banana Stand Money Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Communications with the House of Representatives re: the SALT cap. Section 199A Deduction HR1381 - Main Street Certainty Act S480 - Main Street Tax Certainty Act S2387, the Small Business Tax Fairness Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction Opportunity Zones HR970 - The Opportunity Zone Extension Act HR4177 - The Expanding Opportunity Zones Act Communications with the U.S. Senate in support of extending the Qualified Opportunity Zone program deadlines. Section 1031 Like-Kind Exchanges HR1742 - The Real Estate Exchange Fairness Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit HR4204, the Affordable House Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2768 - American Housing and Economic Mobility Act S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Commercial Real Estate Conversion Tax Credits HR4759 - The Revitalizing Downtowns Act S2511 - The Revitalizing Downtowns Act Carried Interest HR1068 - The Carried Interest Fairness Act S1598 - Carried Interest Fairness Act of 2021 Capital Gains Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Partnership Tax Rules Communications with the Senate Finance Committee about proposed legislation to change the partnership tax rules Tax Reform HR2275 - The Mortgage Debt Tax Forgiveness Act HR2276 - the Mortgage Insurance Tax Deduction Act HR2286 - A bill to treat property transferred by gift or at death as sold for fair market value S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision Infrastructure Proposals HR5376 - Build Back Better Act Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan The Historic Tax Credit HR2266 - The Historic Tax Credit Growth and Opportunity Act HR2294 - The Historic Tax Credit Growth and Opportunity Act Discussions with the U.S. Treasury Department regarding tax policy, like-kind exchanges, capital gains, tax incentives for residential units, and the step-up in basis.

H.R. 1068 -Carried Interest Fairness Act of 2021 H.R. 1321 -NMTC Extension Act of 2021 H.R. 1381 -Mainstreet Tax Certainty Act H.R. 1483 -REHAB Act of 2021 H.R. 1977 -Enhancing Credit Opportunities in Rural America Act H.R. 2143 -Neighborhood Homes Investment Act H.R. 2188 -Reopening America by Supporting Workers and Businesses Act H.R. 2189 -State Tax Freedom Act H.R. 2286 -taxes property transferred by gift or death as sold at market value H.R. 2288 -Investing in Our Communities Act H.R. 2294 -Historic Tax Credit Growth and Opportunity Act H.R. 2439 -SALT Fairness for Working Families Act H.R. 2558 -ALIGN Act H.R. 2573 -Affordable Housing Credit Improvement Act H.R. 2768 -American Housing and Economic Mobility Act of 2021 H.R. 2863 -First Time Homebuyer Act H.R. 3123 -Parity for Non-Traded REITS Act H.R. 3178 -Estate Tax Rate Reduction Act H.R. 3265 -Middle Class Savings Act H.R. 3324 -Incentivize Residential Energy Efficiency Act H.R. 3357 -Rural Jobs Act H.R. 3725 -Relief and Equity Through Small Business Tax Act H.R. 3805 -Millionaires Surtax Act H.R. 3903 -Tax Fairness Act H.R. 4165 -Uplifting First-Time Homebuyers Act of 2021 H.R. 4177 -Expanding Opportunity Zones Act H.R. 4940 -Real Corporate Profits Tax Act of 2021 H.R. 5376 -Build Back Better Act S. 98 -Neighborhood Homes Investment Act S. 456 -New Markets Tax Credit Extension Act of 2021 S. 480-Mainstreet Tax Certainty Act S. 1027-Tax Assistance for Crumbling Foundations Act S. 1136-Affordable Housing Credit Improvement Act S. 1166-Align Act S. 1368-American Housing and Economic Mobility Act S. 1403-Move America Act S. 1479-Home Lead Safety Credit Improvement Act S. 1499-REPAIR Act S. 1519-Save Hotel Jobs Act S. 1598-Carried Interest Fairness Act of 2021 S. 1627-Estate Tax Reduction Act S. 1652-Paying Fair Share Act S. 1653-SMART Act S. 1671-Rural Jobs Act S. 1753-Home Energy Savings Act S. 1768-Hope for HOMES Act S. 1805-SHELTER Act S. 2028-Millionaires Surtax Act S. 2234-Affordable Homes Act S. 2266-Historic Tax Credit Growth and Opportunity Act S. 2680-Real Corporate Profits Tax Act of 2021 S. 2820-DASH Act

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

Client expense: Not reported · Firm income: $56,000

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

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

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability Cost recovery, residential rental property Capital gains mark-to-market Low-income housing tax credit Contributions in Aid of Construction (Sec. 118) REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) Employee retention tax credit Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income Taxing appreciated capital gains at death Opportunity Zone reform, reporting, and deadline extensions Estate tax valuation discounts and rules for grantor trusts Portfolio interest exemption and inbound real estate investment Electric vehicle charging infrastructure tax incentives

Client expense: $1,008,590 · Firm income: Not reported

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act HR3925 - SHELTER Act HR5565 - Banana Stand Money Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Communications with the House of Representatives re: the SALT cap. Section 199A Deduction HR1381 - Main Street Certainty Act S480 - Main Street Tax Certainty Act S2387, the Small Business Tax Fairness Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction Opportunity Zones HR970 - The Opportunity Zone Extension Act HR4177, the Expanding Opportunity Zones Act Section 1031 Like-Kind Exchanges HR1742 - The Real Estate Exchange Fairness Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit HR4204, the Affordable House Act Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2768 - American Housing and Economic Mobility Act S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Commercial Real Estate Conversion Tax Credits HR4759 - The Revitalizing Downtowns Act S2511 - The Revitalizing Downtowns Act Carried Interest HR1068 - The Carried Interest Fairness Act S1598 - Carried Interest Fairness Act of 2021 Capital Gains Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Partnership Tax Rules Communications with the Senate Finance Committee about proposed legislation to change the partnership tax rules Tax Reform HR2275 - The Mortgage Debt Tax Forgiveness Act HR2276 - the Mortgage Insurance Tax Deduction Act HR2286 - A bill to treat property transferred by gift or at death as sold for fair market value S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision Communications with the House Ways and Means Committee and Senate Finance Committee regarding proposed limitations on real estate investment Infrastructure Proposals HR5376 - Build Back Better Act Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan The Historic Tax Credit HR2266 - The Historic Tax Credit Growth and Opportunity Act HR2294 - The Historic Tax Credit Growth and Opportunity Act Discussions with the U.S. Treasury Department regarding tax policy, like-kind exchanges, capital gains, tax incentives for residential units, and the step-up in basis.

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform, including changes in holding period Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability Cost recovery, residential rental property Opportunity Zone reporting legislation and Opportunity Zone reform Capital gains mark-to-market Low-income housing tax credit Contributions in Aid of Construction (Sec. 118) REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) Employee retention tax credit Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income (section 199A) and tax rules on pass-through income Taxing appreciated capital gains at death Opportunity Zone reform and deadline extension Estate tax valuation discounts and rules for grantor trusts

Client expense: $1,543,764 · Firm income: Not reported

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

Client expense: $65,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

H.R. 1068 -Carried Interest Fairness Act of 2021 H.R. 1321 -NMTC Extension Act of 2021 H.R. 1381 -Mainstreet Tax Certainty Act H.R. 1483 -REHAB Act of 2021 H.R. 1977 -Enhancing Credit Opportunities in Rural America Act H.R. 2143 -Neighborhood Homes Investment Act H.R. 2188 -Reopening America by Supporting Workers and Businesses Act H.R. 2189 -State Tax Freedom Act H.R. 2286 -taxes property transferred by gift or death as sold at market value H.R. 2288 -Investing in Our Communities Act H.R. 2294 -Historic Tax Credit Growth and Opportunity Act H.R. 2439 -SALT Fairness for Working Families Act H.R. 2558 -ALIGN Act H.R. 2573 -Affordable Housing Credit Improvement Act H.R. 2768 -American Housing and Economic Mobility Act of 2021 H.R. 2863 -First Time Homebuyer Act H.R. 3123 -Parity for Non-Traded REITS Act H.R. 3178 -Estate Tax Rate Reduction Act H.R. 3265 -Middle Class Savings Act H.R. 3324 -Incentivize Residential Energy Efficiency Act H.R. 3357 -Rural Jobs Act H.R. 3725 -Relief and Equity Through Small Business Tax Act H.R. 3805 -Millionaires Surtax Act H.R. 3903 -Tax Fairness Act H.R. 4165 -Uplifting First-Time Homebuyers Act of 2021 H.R. 4177 -Expanding Opportunity Zones Act H.R. 4940 -Real Corporate Profits Tax Act of 2021 H.R. 5376 -Build Back Better Act S. 98 -Neighborhood Homes Investment Act S. 456 -New Markets Tax Credit Extension Act of 2021 S. 480-Mainstreet Tax Certainty Act S. 1027-Tax Assistance for Crumbling Foundations Act S. 1136-Affordable Housing Credit Improvement Act S. 1166-Align Act S. 1368-American Housing and Economic Mobility Act S. 1403-Move America Act S. 1479-Home Lead Safety Credit Improvement Act S. 1499-REPAIR Act S. 1519-Save Hotel Jobs Act S. 1598-Carried Interest Fairness Act of 2021 S. 1627-Estate Tax Reduction Act S. 1652-Paying Fair Share Act S. 1653-SMART Act S. 1671-Rural Jobs Act S. 1753-Home Energy Savings Act S. 1768-Hope for HOMES Act S. 1805-SHELTER Act S. 2028-Millionaires Surtax Act S. 2234-Affordable Homes Act S. 2266-Historic Tax Credit Growth and Opportunity Act S. 2680-Real Corporate Profits Tax Act of 2021 S. 2820-DASH Act

H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act. H.R. 5376, Build Back Better Act, provisions relating to IRC section 1031 like-kind exchanges and issues related to individual retirement accounts.

Client expense: Not reported · Firm income: $56,000

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Extension and Expansion of Credits for Paid Sick and Family Leave and Employee Retention HR1319 - The American Rescue Plan Act of 2021 State and Local Tax Deduction HR__ - SALT Relief and Marriage Penalty Elimination Act HR202 - SALT Fairness Act HR613 - SALT Deductibility Act HR946 - SALT Act HR2439 - SALT Fairness for Working Families Act S85 - SALT Deductibility Act S804 - SALT Deduction Fairness Act Section 199A Deduction HR1381 - Main Street Certainty Act S480 - Main Street Tax Certainty Act Communications with the House Ways & Means Committee and the Senate Finance Committee opposing the repeal of the Section 199A Qualified Business Interest Deduction Opportunity Zones HR970 - The Opportunity Zone Extension Act Section 1031 Like-Kind Exchanges Conversations with the U.S. House of Representatives and the U.S. Senate in support of retaining Section 1031 Like-Kind Exchanges. Neighborhood Homes Investment Act S98 - The Neighborhood Homes Investment Act HR2143 - The Neighborhood Homes Investment Act Conversations with the U.S. House of Representatives and the U.S. Senate supporting bolstering the NHIA. First time homebuyer tax credits HR2863 - First-Time Homebuyer Act of 2021 Conversations with the U.S. House of Representatives and the U.S. Senate in support of a first-time homebuyer tax credit. Low Income Housing Tax Credit Conversations with the U.S. House of Representatives and the U.S. Senate in support of bolstering the Low Income Housing Tax Credit. Increasing Housing Supply Conversations with the U.S. House of Representatives and the U.S. Senate in support of tax incentives to create more housing supply and more housing options for first-time homebuyers. Communications with the House and Senate regarding legislative proposals to convert underused/abandoned commercial properties into residential real estate Estate Tax Reform HR1712 - Death Tax Repeal Act S617 - Death Tax Repeal Act Affordable Housing HR2573 - Affordable Housing Credit Improvement Act of 2021 HR2768 - American Housing and Economic Mobility Act S1136 - Affordable Housing Credit Improvement Act of 2021 S1368 - American Housing and Economic Mobility Act Carried Interest HR1068 - The Carried Interest Fairness Act S1598 - Carried Interest Fairness Act of 2021 Capital Gains Discussions regarding proposed legislation, the Sensible Taxation and Equity Promotion (STEP) Act. Communications with the House and Senate opposing increases to the capital gains tax rate and taxing of unrealized capital gains Energy Efficiency Tax Incentives HR2346 - E-QUIP Act Tax Credit for Disaster Mitigation/Expenses S1805 - Shelter Act REITs HR3123 - Parity for Non-Traded REITs Act Tax Reform S126 - A bill to amend the Internal Revenue Code of 1986 to make permanent the individual tax provisions of the tax reform law, and for other purposes. Communications with the House and Senate opposing changes to the "step-up in basis" provision Infrastructure Proposals Communications with the House and Senate regarding the pay-fors in the American Rescue Plan and the American Jobs Plan Discussions with the U.S. Treasury Department regarding tax policy, 1031 like-kind exchanges, capital gains, and tax incentives for building residential housing units.

Section 1031 like-kind exchanges. H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act.

Client expense: $65,000 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

Section 1031 like-kind exchanges. H.R. 3123, provisions pertaining to the application of the Foreign Investment in Real Property Tax Act.

Client expense: Not reported · Firm income: $56,000

Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of

"Carried Interest Fairness Act" H.R. 1068 and carried interest reform Energy efficiency and clean energy tax incentives, including the E-QUIP Act (H.R. 2346) Like-Kind Exchanges (Sec. 1031) Completed contract method of accounting and condominium construction (Section 460(e) (H.R. 4061) FIRPTA reform and Parity for Non-Traded REITS Act (H.R. 3123) Net investment income tax and SECA liability IRS Notice 2007-55 Cost recovery, residential rental property Tax guidance related to transition away from LIBOR as a reference rate Opportunity Zone reporting legislation and Opportunity Zone reform Indexing capital gains for inflation Capital gains mark-to-market Low-income housing tax credit Contributions in Aid of Construction (Sec. 118) Partnership tax forms (1065 and Schedule K-1) REIT rules, including investments in related parties (H.R. 840) Cancellation of Indebtedness income (section 108) REMIC Rules and debt modifications Lease modifications (section 475) Unpaid rent and section 166 Safe and healthy workplace tax credit Deductibility of business expenses paid with Paycheck Protection Program loans Employee retention tax credit Capital gains tax rate State and local tax deduction 20% deduction for pass-through business income Taxing appreciated capital gains at death

Client expense: $1,083,564 · Firm income: Not reported