Working Families Disaster Tax Relief Act

General issues related to multiple areas of the tax law and code including: Legislative proposals on tax simplification, tax reform, and technical tax changes; Implementation of the One Big Beautiful Bill Act, P.L. 119-21, including the provisions related to no tax on tips, no tax on overtime, Trump accounts, section 68 itemized deduction limitation, section 4960 related to the excise tax on excess tax-exempt organization executive compensation, inventory donations under section 170, and the paid family and medical leave tax credit; Individual, S corporation, partnership, trust and estate implementation and extension issues regarding the Tax Cuts and Jobs Act, P.L.115-97, including SALT cap passthrough entity-level taxes and specified service trades or businesses; The taxation of digital assets; digital assets reporting, including the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, P.L. 119-27; Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields (PARITY)Act (H.R. 8899); Disaster relief, including the Federal Disaster Tax Relief Act, the Tax Fairness for Disaster Victims Act (H.R. 3975), Filing Relief for Natural Disasters Act (H.R. 517 and S. 132), the Casualty Loss Deduction Restoration Act, the Federal Disaster Responsibility Act, and the Disaster Related Extension of Deadlines Act (H.R. 1491), the Tax Relief for Victims of Crimes, Scams, and Disasters Act (H.R. 346 and S.1773), and the Working Families Disaster Tax Relief Act (H.R. 6645 and S.3432); 529 plan expansion legislation, the Freedom to Invest in Tomorrows Workforce Act (H.R. 1151 and S. 756); IRS priority guidance plan; Tax administration issues, including IRS modernization, regulation of tax return preparers, Circular 230, credit and refund lookback period, mailbox rule for electronic submissions and payments, and the Electronic Filing and Payment Fairness Act (H.R. 1152), the Internal Revenue Service Math and Taxpayer Help Act (H.R. 998), the Taxpayer Assistance and Service (TAS) Act discussion draft, IRS strategic operating plan, contingency plan for possible government shutdown, tax administrative relief related to a government shutdown, extension simplification and the Simplify Automatic Filing Extensions (SAFE) Act (H.R. 990), filing flexibility, quarterly estimated payments, electronic payments and disbursements, CP53E notices, collection due process hearing period, and first time abatement relief; Trust and estate issues, including generation-skipping transfer taxes, basis reporting, section 68 itemized deduction limitation impact on estates and trusts, income tax returns for estates and trusts, estate tax returns, and gift tax returns; Mobile workforce and state income tax simplification issues, including the Mobile Workforce State Income Tax Simplification Tax Act (S. 1443); State remote sales tax issues; State income tax issues concerning P.L. 86-272, including the Interstate Commerce Simplification Act of 2025 (H.R. 427 and S. 3027); Methods and periods issues, including section 174 research and experimentation expensing, accounting method changes, corporate alternative minimum tax (CAMT), and other expired and expiring provisions; Corporations and Shareholders, corporate alternative minimum tax (CAMT) for financially troubled companies; Corporation taxation issues related to section 355, nonrecognition of gain or loss in corporate separations, incorporations, and reorganizations; Partnership taxation issues, including basis-shifting transactions, the corporate alternative minimum tax (CAMT) application to partnerships and CAMT entity partners, partnership workload compression, and Form 1065 instructions; S Corporation issues, including private letter ruling user fees; Employee benefits tax issues, including implementation of SECURE 2.0, Federal income tax treatment of contributions and benefits, and paid benefits under state paid family and medical leave statute; section 162(m) related to limitations on executive compensation, section 274(o) related to meals provided for convenience of an employer, determination letter program, the Employee Plans Compliance Resolution System (EPCRS), the Voluntary Compliance Program (VCP), C-4 opinion letters, and the self-correction program; Exempt organization issues, including foreign related filings, processing of group rulings, Form 8050, and Donor Advised Funds; Guiding Principles of Good Tax Policy; International Code of Ethics for Professional Accountants (IESBA) rules on tax planning and related services; International tax issues, including transfer pricing, previously taxed earnings and profits, OECD Pillar One and Pillar Two issues, taxpayers abroad filing issues, dual consolidated loss rules, and other expired and expiring provisions; Individual tax issues, including the Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE Act) (S. 2230), the Fair Accounting for Income Realized from Betting Earnings Taxation Act (Fair Bet Act) (H.R. 4304), Winnings and Gains Expense Restoration (WAGER Act) (H.R. 4630), penalty relief for qualified farmers and fishermen impacted by changes to instructions for IRS Form 8995, and 2025 filing season issues; Accounting profession tax matters related to the 2025 budget reconciliation; Beneficial ownership information reporting issues.

Client expense: $1,600,000 · Firm income: Not reported

Government targets: Financial Crimes Enforcement Network (FinCEN), Government Accountability Office (GAO), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Labor, Dept of (DOL), SENATE, Treasury, Dept of

NETWORK opposes H.Con.Res. 14, the Resolution on the Budget for Fiscal Year 2025. This resolution sets in motion a bill that, if passed, it would be 7 Trillion dollars of tax benefits to the ultra-wealthy and corporations and would be "paid for" with significant cuts to health (Medicaid) and food programs (the Supplemental Nutrition Assistance Program.) NETWORK strongly support the Tax Cut for Workers Act (H.R. 2764). This bill would Virtually triple the maximum value of the EITC for so-called childless workers from about $540 to about $1,500; extend the credit to both younger and older workers who are currently ineligible for the credit because of their age - delivering the credit to people ages 19 to 24 as well as 65 and older; and make the credit more accessible for adults aging out of the foster youth system. NETWORK endorsed and supports the American Family Act to provide a fully refundable Child Tax Credit to all families. NETWORK strongly opposes HR 1 because the tax relief is highly regressive, providing most to high income individuals and major corporations (4.5 trillion), while failing to expand low income tax credits to lift working families out of poverty. This bill drives up our national debt by 3.5 trillion. Tax relief is "paid for" by gutting healthcare and food programs for families. The bill also encourages US job loss due to offshoring incentives. NETWORK support the Working Families Disaster Tax Relief Act (S.3432 / H.R.6645) to help families affected by federally declared disasters by letting them use their previous year's income to calculate eligibility for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC). NETWORK supports the following bills to tax the ultra-wealthy and corporations: Tax Wealth Over $50 Million Ultra-Millionaire Tax Act - Introduces a 2% annual tax on household net worth between $50 million and $1 billion, plus a 1% to 3% surtax on net worth over $1 billion. It targets the top 0.05% of households to raise roughly $3 trillion over 10 years. Make Billionaires Pay Their Fair Share Act - Proposes a 5% annual wealth tax on individuals with a net worth over $1 billion, targeting about 938 Americans to raise roughly $4.4 trillion over a decade. This bill funds social programs like childcare, public education, and health initiatives. * The Robinhood Act, a bill to tax billionaires by taxing loan when he/she borrows against stock options. Most billionaires are pay themselves in stock options which are not taxable. Enact a millionaires surtax to fund health care and education Millionaires Surtax Act - Applies an additional 10-percentage point tax on incomes exceeding $2 million for married couples ($1 million for individuals), aiming to raise roughly $634-$716 billion over 10 years. It targets the top 0.2% of earners to fund public services like health care and education. Curb dynastic wealth and reduce the power of billionaires For the 99.5 Percent Act - Increases federal estate and gift taxes on the wealthiest Americans to reduce wealth inequality. The bill seeks to reduce the estate tax exemption to $3.5 million per person and progressively raises the top tax rate. Billionaires Income Tax Act - Ensures that ultra-wealthy individuals pay taxes annually on gains from tradable assets like stocks, rather than deferring taxes until assets are sold. The bill targets taxpayers with over $1 billion in assets or over $100 million in income for three consecutive years. Making corporations pay their fair share Raise the Corporate Income Tax - Increase the federal corporate income tax rate-from 21% up to 28%-to raise federal revenue, fund public investments, and ensure large corporations pay their fair share. No Tax Breaks for Outsourcing Act - Eliminates tax incentives that encourage U.S. corporations to move jobs, factories, and profits overseas. It would equalize foreign and domestic corporate tax rates that would incentivize offshoring investments. Strengthening Social Security and Medicare Scrap the payroll tax cap to fully fund Social Security and Medicare for next generations: Social Security 2100 Act - Applies the Social Security payroll tax to earnings over $400,000, closing the gap where high incomes were previously exempt.

Advocated for members to support paid family and medical leave, the Child Tax Credit and other financial supports Continue to support: Working Families Disaster Tax Relief Act, H.R. 6645 Baby Bonus Act, H.R. 6234 The End Child Poverty Act, H.R. 6235 American Family Act, S 1393; HR 2763

Client expense: $119,592 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

NETWORK opposes H.Con.Res. 14, the Resolution on the Budget for Fiscal Year 2025. This resolution sets in motion a bill that, if passed, it would be 7 Trillion dollars of tax benefits to the ultra-wealthy and corporations and would be "paid for" with significant cuts to health (Medicaid) and food programs (the Supplemental Nutrition Assistance Program.) NETWORK strongly support the Tax Cut for Workers Act (H.R. 2764). This bill would Virtually triple the maximum value of the EITC for so-called childless workers from about $540 to about $1,500; extend the credit to both younger and older workers who are currently ineligible for the credit because of their age - delivering the credit to people ages 19 to 24 as well as 65 and older; and make the credit more accessible for adults aging out of the foster youth system. NETWORK endorsed and supports the American Family Act to provide a fully refundable Child Tax Credit to all families. NETWORK strongly opposes HR 1 because the tax relief is highly regressive, providing most to high income individuals and major corporations (4.5 trillion), while failing to expand low income tax credits to lift working families out of poverty. This bill drives up our national debt by 3.5 trillion. Tax relief is "paid for" by gutting healthcare and food programs for families. The bill also encourages US job loss due to offshoring incentives. NETWORK support the Working Families Disaster Tax Relief Act (S.3432 / H.R.6645) to help families affected by federally declared disasters by letting them use their previous year's income to calculate eligibility for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC). NETWORK supports the following bills to tax the ultra-wealthy and corporations: Tax Wealth Over $50 Million Ultra-Millionaire Tax Act - Introduces a 2% annual tax on household net worth between $50 million and $1 billion, plus a 1% to 3% surtax on net worth over $1 billion. It targets the top 0.05% of households to raise roughly $3 trillion over 10 years. Make Billionaires Pay Their Fair Share Act - Proposes a 5% annual wealth tax on individuals with a net worth over $1 billion, targeting about 938 Americans to raise roughly $4.4 trillion over a decade. This bill funds social programs like childcare, public education, and health initiatives. * The Robinhood Act, a bill to tax billionaires by taxing loan when he/she borrows against stock options. Most billionaires are pay themselves in stock options which are not taxable. Enact a millionaires surtax to fund health care and education Millionaires Surtax Act - Applies an additional 10-percentage point tax on incomes exceeding $2 million for married couples ($1 million for individuals), aiming to raise roughly $634-$716 billion over 10 years. It targets the top 0.2% of earners to fund public services like health care and education. Curb dynastic wealth and reduce the power of billionaires For the 99.5 Percent Act - Increases federal estate and gift taxes on the wealthiest Americans to reduce wealth inequality. The bill seeks to reduce the estate tax exemption to $3.5 million per person and progressively raises the top tax rate. Billionaires Income Tax Act - Ensures that ultra-wealthy individuals pay taxes annually on gains from tradable assets like stocks, rather than deferring taxes until assets are sold. The bill targets taxpayers with over $1 billion in assets or over $100 million in income for three consecutive years. Making corporations pay their fair share Raise the Corporate Income Tax - Increase the federal corporate income tax rate-from 21% up to 28%-to raise federal revenue, fund public investments, and ensure large corporations pay their fair share. No Tax Breaks for Outsourcing Act - Eliminates tax incentives that encourage U.S. corporations to move jobs, factories, and profits overseas. It would equalize foreign and domestic corporate tax rates that would incentivize offshoring investments. Strengthening Social Security and Medicare Scrap the payroll tax cap to fully fund Social Security and Medicare for next generations: Social Security 2100 Act - Applies the Social Security payroll tax to earnings over $400,000, closing the gap where high incomes were previously exempt.

General issues related to multiple areas of the tax law and code including: Legislative proposals on tax simplification, tax reform, and technical tax changes; Implementation of the One Big Beautiful Bill Act, P.L. 119-21, including the provisions related to no tax on tips, no tax on overtime, Trump accounts, section 68 itemized deduction limitation, section 4960 related to the excise tax on excess tax-exempt organization executive compensation, inventory donations under section 170, and the paid family and medical leave tax credit; Individual, S corporation, partnership, trust and estate implementation and extension issues regarding the Tax Cuts and Jobs Act, P.L.115-97, including SALT cap passthrough entity-level taxes and specified service trades or businesses; The taxation of digital assets; digital assets reporting, including the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, P.L. 119-27; Digital Asset Protection, Accountability, Regulation, Innovation, Taxation, and Yields (PARITY)Act (H.R. 8899); Disaster relief, including the Federal Disaster Tax Relief Act, the Tax Fairness for Disaster Victims Act (H.R. 3975), Filing Relief for Natural Disasters Act (H.R. 517 and S. 132), the Casualty Loss Deduction Restoration Act, the Federal Disaster Responsibility Act, and the Disaster Related Extension of Deadlines Act (H.R. 1491), the Tax Relief for Victims of Crimes, Scams, and Disasters Act (H.R. 346 and S.1773), and the Working Families Disaster Tax Relief Act (H.R. 6645 and S.3432); 529 plan expansion legislation, the Freedom to Invest in Tomorrows Workforce Act (H.R. 1151 and S. 756); IRS priority guidance plan; Tax administration issues, including IRS modernization, regulation of tax return preparers, Circular 230, credit and refund lookback period, mailbox rule for electronic submissions and payments, and the Electronic Filing and Payment Fairness Act (H.R. 1152), the Internal Revenue Service Math and Taxpayer Help Act (H.R. 998), the Taxpayer Assistance and Service (TAS) Act discussion draft, IRS strategic operating plan, contingency plan for possible government shutdown, tax administrative relief related to a government shutdown, extension simplification and the Simplify Automatic Filing Extensions (SAFE) Act (H.R. 990), filing flexibility, quarterly estimated payments, electronic payments and disbursements, CP53E notices, collection due process hearing period, and first time abatement relief; Trust and estate issues, including generation-skipping transfer taxes, basis reporting, section 68 itemized deduction limitation impact on estates and trusts, income tax returns for estates and trusts, estate tax returns, and gift tax returns; Mobile workforce and state income tax simplification issues, including the Mobile Workforce State Income Tax Simplification Tax Act (S. 1443); State remote sales tax issues; State income tax issues concerning P.L. 86-272, including the Interstate Commerce Simplification Act of 2025 (H.R. 427 and S. 3027); Methods and periods issues, including section 174 research and experimentation expensing, accounting method changes, and other expired and expiring provisions; Corporate taxation issues, including the corporate alternative minimum tax (CAMT); Corporation taxation issues related to section 355, nonrecognition of gain or loss in corporate separations, incorporations, and reorganizations; Partnership taxation issues, including basis-shifting transactions, the corporate alternative minimum tax (CAMT) application to partnerships and CAMT entity partners, partnership workload compression, and Form 1065 instructions; S Corporation issues, including private letter ruling user fees; Employee benefits tax issues, including implementation of SECURE 2.0, Federal income tax treatment of contributions and benefits, and paid benefits under state paid family and medical leave statute; section 162(m) related to limitations on executive compensation, section 274(o) related to meals provided for convenience of an employer, determination letter program, the Employee Plans Compliance Resolution System (EPCRS), the Voluntary Compliance Program (VCP), C-4 opinion letters, and the self-correction program. Exempt organization issues, including foreign related filings, processing of group rulings, Form 8050, and Donor Advised Funds; Guiding Principles of Good Tax Policy; International Code of Ethics for Professional Accountants (IESBA) rules on tax planning and related services; International tax issues, including transfer pricing, previously taxed earnings and profits, OECD Pillar One and Pillar Two issues, taxpayers abroad filing issues, dual consolidated loss rules, and other expired and expiring provisions; Individual tax issues, including the Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE Act) (S. 2230), the Fair Accounting for Income Realized from Betting Earnings Taxation Act (Fair Bet Act) (H.R. 4304), Winnings and Gains Expense Restoration (WAGER Act) (H.R. 4630), penalty relief for qualified farmers and fishermen impacted by changes to instructions for IRS Form 8995, and 2025 filing season issues; Accounting profession tax matters related to the 2025 budget reconciliation; Beneficial ownership information reporting issues.

NETWORK opposes H.Con.Res. 14, the Resolution on the Budget for Fiscal Year 2025. This resolution sets in motion a bill that, if passed, it would be 7 Trillion dollars of tax benefits to the ultra-wealthy and corporations and would be "paid for" with significant cuts to health (Medicaid) and food programs (the Supplemental Nutrition Assistance Program.) NETWORK strongly support the Tax Cut for Workers Act (H.R. 2764). This bill would Virtually triple the maximum value of the EITC for so-called childless workers from about $540 to about $1,500; extend the credit to both younger and older workers who are currently ineligible for the credit because of their age - delivering the credit to people ages 19 to 24 as well as 65 and older; and make the credit more accessible for adults aging out of the foster youth system. NETWORK endorsed and supports the American Family Act to provide a fully refundable Child Tax Credit to all families. NETWORK strongly opposes HR 1 because the tax relief is highly regressive, providing most to high income individuals and major corporations (4.5 trillion), while failing to expand low income tax credits to lift working families out of poverty. This bill drives up our national debt by 3.5 trillion. Tax relief is "paid for" by gutting healthcare and food programs for families. The bill also encourages US job loss due to offshoring incentives. NETWORK support the Working Families Disaster Tax Relief Act (S.3432 / H.R.6645) to help families affected by federally declared disasters by letting them use their previous year's income to calculate eligibility for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC). NETWORK supports the following bills to tax the ultra-wealthy and corporations: Tax Wealth Over $50 Million Ultra-Millionaire Tax Act - Introduces a 2% annual tax on household net worth between $50 million and $1 billion, plus a 1% to 3% surtax on net worth over $1 billion. It targets the top 0.05% of households to raise roughly $3 trillion over 10 years. Make Billionaires Pay Their Fair Share Act - Proposes a 5% annual wealth tax on individuals with a net worth over $1 billion, targeting about 938 Americans to raise roughly $4.4 trillion over a decade. This bill funds social programs like childcare, public education, and health initiatives. Enact a millionaires surtax to fund health care and education Millionaires Surtax Act - Applies an additional 10-percentage point tax on incomes exceeding $2 million for married couples ($1 million for individuals), aiming to raise roughly $634-$716 billion over 10 years. It targets the top 0.2% of earners to fund public services like health care and education. Curb dynastic wealth and reduce the power of billionaires For the 99.5 Percent Act - Increases federal estate and gift taxes on the wealthiest Americans to reduce wealth inequality. The bill seeks to reduce the estate tax exemption to $3.5 million per person and progressively raises the top tax rate. Billionaires Income Tax Act - Ensures that ultra-wealthy individuals pay taxes annually on gains from tradable assets like stocks, rather than deferring taxes until assets are sold. The bill targets taxpayers with over $1 billion in assets or over $100 million in income for three consecutive years. Making corporations pay their fair share Raise the Corporate Income Tax - Increase the federal corporate income tax rate-from 21% up to 28%-to raise federal revenue, fund public investments, and ensure large corporations pay their fair share. No Tax Breaks for Outsourcing Act - Eliminates tax incentives that encourage U.S. corporations to move jobs, factories, and profits overseas. It would equalize foreign and domestic corporate tax rates that would incentivize offshoring investments. Strengthening Social Security and Medicare Scrap the payroll tax cap to fully fund Social Security and Medicare for next generations: Social Security 2100 Act - Applies the Social Security payroll tax to earnings over $400,000, closing the gap where high incomes were previously exempt.

NETWORK opposes H.Con.Res. 14, the Resolution on the Budget for Fiscal Year 2025. This resolution sets in motion a bill that, if passed, it would be 7 Trillion dollars of tax benefits to the ultra-wealthy and corporations and would be "paid for" with significant cuts to health (Medicaid) and food programs (the Supplemental Nutrition Assistance Program.) NETWORK strongly support the Tax Cut for Workers Act (H.R. 2764). This bill would Virtually triple the maximum value of the EITC for so-called childless workers from about $540 to about $1,500; extend the credit to both younger and older workers who are currently ineligible for the credit because of their age - delivering the credit to people ages 19 to 24 as well as 65 and older; and make the credit more accessible for adults aging out of the foster youth system. NETWORK endorsed and supports the American Family Act to provide a fully refundable Child Tax Credit to all families. NETWORK strongly opposes HR 1 because the tax relief is highly regressive, providing most to high income individuals and major corporations (4.5 trillion), while failing to expand low income tax credits to lift working families out of poverty. This bill drives up our national debt by 3.5 trillion. Tax relief is "paid for" by gutting healthcare and food programs for families. The bill also encourages US job loss due to offshoring incentives. NETWORK support the Working Families Disaster Tax Relief Act (S.3432 / H.R.6645) to help families affected by federally declared disasters by letting them use their previous year's income to calculate eligibility for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC). NETWORK supports the following bills to tax the ultra-wealthy and corporations: Tax Wealth Over $50 Million Ultra-Millionaire Tax Act - Introduces a 2% annual tax on household net worth between $50 million and $1 billion, plus a 1% to 3% surtax on net worth over $1 billion. It targets the top 0.05% of households to raise roughly $3 trillion over 10 years. Make Billionaires Pay Their Fair Share Act - Proposes a 5% annual wealth tax on individuals with a net worth over $1 billion, targeting about 938 Americans to raise roughly $4.4 trillion over a decade. This bill funds social programs like childcare, public education, and health initiatives. Enact a millionaires surtax to fund health care and education Millionaires Surtax Act - Applies an additional 10-percentage point tax on incomes exceeding $2 million for married couples ($1 million for individuals), aiming to raise roughly $634-$716 billion over 10 years. It targets the top 0.2% of earners to fund public services like health care and education. Curb dynastic wealth and reduce the power of billionaires For the 99.5 Percent Act - Increases federal estate and gift taxes on the wealthiest Americans to reduce wealth inequality. The bill seeks to reduce the estate tax exemption to $3.5 million per person and progressively raises the top tax rate. Billionaires Income Tax Act - Ensures that ultra-wealthy individuals pay taxes annually on gains from tradable assets like stocks, rather than deferring taxes until assets are sold. The bill targets taxpayers with over $1 billion in assets or over $100 million in income for three consecutive years. Making corporations pay their fair share Raise the Corporate Income Tax - Increase the federal corporate income tax rate-from 21% up to 28%-to raise federal revenue, fund public investments, and ensure large corporations pay their fair share. No Tax Breaks for Outsourcing Act - Eliminates tax incentives that encourage U.S. corporations to move jobs, factories, and profits overseas. It would equalize foreign and domestic corporate tax rates that would incentivize offshoring investments. Strengthening Social Security and Medicare Scrap the payroll tax cap to fully fund Social Security and Medicare for next generations: Social Security 2100 Act - Applies the Social Security payroll tax to earnings over $400,000, closing the gap where high incomes were previously exempt.

Continue support: Working Families Disaster Tax Relief Act, H.R. 6645 Baby Bonus Act, H.R. 6234 The End Child Poverty Act, H.R. 6235 American Family Act, S 1393; HR 2763

Client expense: $45,892 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE

General issues related to multiple areas of the tax law and code including: Legislative proposals on tax simplification, tax reform, and technical tax changes; Implementation of the One Big Beautiful Bill Act, P.L. 119-21, including the provisions related to no tax on tips, no tax on overtime, Trump accounts, section 68 itemized deduction limitation, section 4960 related to the excise tax on excess tax-exempt organization executive compensation, inventory donations under section 170, and the paid family and medical leave tax credit; Individual, S corporation, partnership, trust and estate implementation and extension issues regarding the Tax Cuts and Jobs Act, P.L.115-97, including SALT cap passthrough entity-level taxes and specified service trades or businesses; The taxation of digital assets; digital assets reporting, including the Guiding and Establishing National Innovation for U.S. Stablecoins (GENIUS) Act, P.L. 119-27; Disaster relief, including the Federal Disaster Tax Relief Act, the Tax Fairness for Disaster Victims Act (H.R. 3975), Filing Relief for Natural Disasters Act (H.R. 517 and S. 132), the Casualty Loss Deduction Restoration Act, the Federal Disaster Responsibility Act, and the Disaster Related Extension of Deadlines Act (H.R. 1491), the Tax Relief for Victims of Crimes, Scams, and Disasters Act (H.R. 346 and S.1773), and the Working Families Disaster Tax Relief Act (H.R. 6645 and S.3432); 529 plan expansion legislation, the Freedom to Invest in Tomorrows Workforce Act (H.R. 1151 and S. 756); IRS priority guidance plan; Tax administration issues, including IRS modernization, regulation of tax return preparers, Circular 230, credit and refund lookback period, mailbox rule for electronic submissions and payments, and the Electronic Filing and Payment Fairness Act (H.R. 1152), the Internal Revenue Service Math and Taxpayer Help Act (H.R. 998), the Taxpayer Assistance and Service (TAS) Act discussion draft, IRS strategic operating plan, contingency plan for possible government shutdown, tax administrative relief related to a government shutdown, extension simplification and the Simplify Automatic Filing Extensions (SAFE) Act (H.R. 990), filing flexibility, quarterly estimated payments, electronic payments and disbursements, collection due process hearing period, and first time abatement relief; Trust and estate issues, including generation-skipping transfer taxes, basis reporting, section 68 itemized deduction limitation impact on estates and trusts, income tax returns for estates and trusts, estate tax returns, and gift tax returns; Mobile workforce and state income tax simplification issues, including the Mobile Workforce State Income Tax Simplification Tax Act (S. 1443); State remote sales tax issues; State income tax issues concerning P.L. 86-272, including the Interstate Commerce Simplification Act of 2025 (H.R. 427 and S. 3027); Methods and periods issues, including section 174 research and experimentation expensing, accounting method changes, and other expired and expiring provisions; Corporate taxation issues, including the corporate alternative minimum tax (CAMT); Corporation taxation issues related to section 355, nonrecognition of gain or loss in corporate separations, incorporations, and reorganizations; Partnership taxation issues, including basis-shifting transactions, the corporate alternative minimum tax (CAMT) application to partnerships and CAMT entity partners, partnership workload compression, and Form 1065 instructions; S Corporation issues, including private letter ruling user fees; Employee benefits tax issues, including implementation of SECURE 2.0, Federal income tax treatment of contributions and benefits, and paid benefits under state paid family and medical leave statute; section 162(m) related to limitations on executive compensation, section 274(o) related to meals provided for convenience of an employer, determination letter program, the Employee Plans Compliance Resolution System (EPCRS), the Voluntary Compliance Program (VCP), C-4 opinion letters, and the self-correction program. Exempt organization issues, including foreign related filings; Guiding Principles of Good Tax Policy; International Code of Ethics for Professional Accountants (IESBA) rules on tax planning and related services; International tax issues, including transfer pricing, previously taxed earnings and profits, OECD Pillar One and Pillar Two issues, taxpayers abroad filing issues, dual consolidated loss rules, and other expired and expiring provisions; Individual tax issues, including the Facilitating Useful Loss Limitations to Help Our Unique Service Economy (FULL HOUSE Act) (S. 2230), the Fair Accounting for Income Realized from Betting Earnings Taxation Act (Fair Bet Act) (H.R. 4304), Winnings and Gains Expense Restoration (WAGER Act) (H.R. 4630), penalty relief for qualified farmers and fishermen impacted by changes to instructions for IRS Form 8995, and 2025 filing season issues; Accounting profession tax matters related to the 2025 budget reconciliation; Beneficial ownership information reporting issues.

NETWORK opposes H.Con.Res. 14, the Resolution on the Budget for Fiscal Year 2025. This resolution sets in motion a bill that, if passed, it would be 7 Trillion dollars of tax benefits to the ultra-wealthy and corporations and would be "paid for" with significant cuts to health (Medicaid) and food programs (the Supplemental Nutrition Assistance Program.) NETWORK strongly support the Tax Cut for Workers Act (H.R. 2764). This bill would Virtually triple the maximum value of the EITC for so-called childless workers from about $540 to about $1,500; extend the credit to both younger and older workers who are currently ineligible for the credit because of their age - delivering the credit to people ages 19 to 24 as well as 65 and older; and make the credit more accessible for adults aging out of the foster youth system. NETWORK endorsed and supports the American Family Act to provide a fully refundable Child Tax Credit to all families. NETWORK strongly opposes HR 1 because the tax relief is highly regressive, providing most to high income individuals and major corporations (4.5 trillion), while failing to expand low income tax credits to lift working families out of poverty. This bill drives up our national debt by 3.5 trillion. Tax relief is "paid for" by gutting healthcare and food programs for families. The bill also encourages US job loss due to offshoring incentives. NETWORK support the Working Families Disaster Tax Relief Act (S.3432 / H.R.6645) to help families affected by federally declared disasters by letting them use their previous year's income to calculate eligibility for the Earned Income Tax Credit (EITC) and the Child Tax Credit (CTC)

Client expense: Not reported · Firm income: Not reported

Discuss tax provisions with Sens. Warner and Justice about their bill the Child Care Supply Tax Credit Act. Newly Endorsed: Working Families Disaster Tax Relief Act, H.R. 6645 Baby Bonus Act, H.R. 6234 The End Child Poverty Act, H.R. 6235 Continue to Support: American Family Act, S 1393; HR 2763

Client expense: $59,477 · Firm income: Not reported

Government targets: HOUSE OF REPRESENTATIVES, SENATE