A bill to amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums.
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Sources: Congress.gov
2008 · fourth_quarter · Taxation/Internal Revenue Code
HR 1813 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. S.1416 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. H.R.7202 Temporary Tax Relief Act of 2008
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 1820 / S.1556 - Tax Equity for Health Plan Beneficiaries Act of 2007 S. 349 - Small Business and Work Opportunity Act of 2007 H.R. 1813 / S. 1416 - To amend the IRC of 1986 to make permanent the deduction of ortgage insurance premiums. S. 396 - To amend the IRC of 1986 to treat controlled foreign corporations established in tax havens as domestic corporations H.R. 6969 - Offshore Reinsurance Cessions, to amend the Internal Revenue Code of 1986 to disallow the deduction for excess non-taxed reinsurance premiums with respect to United States risks paid to affiliates.
Client expense: $612,133 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 1677 - Taxpayer Protection Act of 2007 - Amends Internal Revenue Code provisions relating to tax administration and taxpayer protections including an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest. H.R. 1424 - the "Emergency Economic and Stabalization Act of 2008" included a $700 billion rescue plan to restart the flow of capital in the marketplace, included real estate tax extenders of brownfield deduction, the 15-year leasehold improvement, deduction of state and local taxes, and a 1-year patch of the AMT. H.R. 1813 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1850 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. H.R. 2014 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income income received by a partner from an investment services partnership interest; also known as carried interest. H.R. 5565 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent. H.R. 5720 - Housing Assistance Tax Act of 2008 - Amends the Internal Revenue Code relating to the low-income housing tax credit, tax-exempt housing bonds, real estate investment trusts (REITs) and to provide assistance to first-time home buyers and home owners. Allows first-time home buyers a refundable tax credit for 10% of the purchase price of a principal residence, up to $7,500; and (2) individual taxpayers who claim the standard deduction an additional deduction from gross income for state and local real property taxes. Modifies rules relating to REITs to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of an REIT's total assets that may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; and (4) treat rental payments made by a health care facility to an REIT as qualifying REIT income. H.R. 6049 - Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. This includes: the deduction of state and local taxes, use of mortgage bonds to refinance residences for veterans, 15-year leasehold improvement deduction, brownfield deduction, and includes a new standard property tax deduction of $350 ($700 for married individuals filing a joint tax return). H.R. 6275 - Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss. S. 1078 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. S. 1361 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S. 1624 - Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services. S. 2566 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent. C.A.R. sent a comment letter to the California Congressional delegates concerning the need for an economic stimulus package that included: An extension of the GSE and FHA loan limits at their current 2008 levels, removing the payback requirement for the $7,500 first-time homebuyer tax credit and allowing buyers to utilize these funds at the time of home purchase at no additional cost, preserving the ability for creditworthy homebuyers to receive seller-funded downpayment assistance, and preventing unscrupulous foreclosure consultants from preying upon uninformed and vulnerable homeowners. Additionally, lenders participating in the Troubled Assets Relief Program (TARP) should be required to extend credit down to Main Street (making credit more available to consumers and small businesses), expedite the process for short sales, and expedite the resolution of banks real estate owned (REO) properties.
2008 · third_quarter · Taxation/Internal Revenue Code
H.R. 1677 - Taxpayer Protection Act of 2007 - Amends Internal Revenue Code provisions relating to tax administration and taxpayer protections including an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest. H.R. 1424 - the "Emergency Economic and Stabalization Act of 2008" included a $700 billion rescue plan to restart the flow of capital in the marketplace, included real estate tax extenders of brownfield deduction, the 15-year leasehold improvement, deduction of state and local taxes, and a 1-year patch of the AMT. H.R. 1813 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1850 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. H.R. 2014 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income income received by a partner from an investment services partnership interest; also known as carried interest. H.R. 3221 - Housing bill which includes a $7500 tax credit for first-time homebuyers, includes a FIRPTA fix that would allow escrow to hold documents, allows for the use of mortgage bonds to refinance qualified subprime loans, included community development block grants to purchase foreclosed properties, includes a new $500/$1000 standard deduction for property taxes, and includes a revision of the rules governing second home conversions and the capital gain exclusion. H.R. 3997 - Defenders of Freedom Tax Relief Act of 2007 - Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. H.R. 5565 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent. H.R. 5720 - Housing Assistance Tax Act of 2008 - Amends the Internal Revenue Code relating to the low-income housing tax credit, tax-exempt housing bonds, real estate investment trusts (REITs) and to provide assistance to first-time home buyers and home owners. Allows first-time home buyers a refundable tax credit for 10% of the purchase price of a principal residence, up to $7,500; and (2) individual taxpayers who claim the standard deduction an additional deduction from gross income for state and local real property taxes. Modifies rules relating to REITs to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of an REIT's total assets that may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; and (4) treat rental payments made by a health care facility to an REIT as qualifying REIT income. H.R. 6049 - Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. This includes: the deduction of state and local taxes, use of mortgage bonds to refinance residences for veterans, 15-year leasehold improvement deduction, brownfield deduction, and includes a new standard property tax deduction of $350 ($700 for married individuals filing a joint tax return). H.R. 6081 - Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. H.R. 6275 - Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss. S. 1078 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. S. 1361 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S. 1624 - Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services. S. 2566 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
2008 · third_quarter · Taxation/Internal Revenue Code
H.R. 1820 / S. 1556 - Tax Equity for Health Plan Beneficiaries Act of 2007 S. 349 - Small Business and Work Opportunity Act of 2007 H.R. 1813 / S. 1416 - To amend the IRC of 1986 to make permanent the deduction of mortgage insurance premiums. S. 396 - To amend te IRC of 1986 to treat controlled foreign corporations established in tax havens as domestic corporations.
Client expense: $944,634 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Democratic |
| MI |
| Elizabeth Dole | Republican | NC |
| Evan Bayh | Democratic | IN |
| Herb Kohl | Democratic | WI |
| John Ensign | Republican | NV |
| Johnny Isakson | Republican | GA |
| Robert Menendez | Democratic | NJ |
| Tim Johnson | Democratic | SD |
| Wayne Allard | Republican | CO |
Client expense: $30,000 · Firm income: Not reported
Government targets: Federal Communications Commission (FCC), Federal Housing Finance Agency (FHFA), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), SENATE, Treasury, Dept of
Client expense: $30,000 · Firm income: Not reported
Government targets: Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), SENATE, Treasury, Dept of
2008 · third_quarter · Taxation/Internal Revenue Code
HR 1813 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. S.1416 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. H.R.7202 Temporary Tax Relief Act of 2008
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · third_quarter · Taxation/Internal Revenue Code
S. 286, Rural Economic Investment Act of 2007. All Provisions. Excludes from gross income interest received on loans secured by agricultural real property. H.R. 833, Rural Communities Investment Act of 2007. All Provisions. Excludes from gross income interest received on loans secured by agricultural real estate and rural housing. S. 1394, Mortgage Cancellation Relief Act of 2007. All Provisions. Excludes from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. S.1416, A bill to amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. H.R. 1511, Amends the Servicemembers Civil Relief Act. All Provisions. Provides relief with respect to rent and mortgage payments for members of the reserve components who are called to active duty and to amend to Internal Revenue Code of 1986 to allow a refundable credit to lessors for payments foregone by reason of such relief. H.R. 1562, Katrina Housing Tax Relief Act of 2007. All Provisions. Extends and expands certain rules on housing in GO Zoness H.R. 1813, Amends the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. H.R.1876, Mortgage Cancellation Relief Act of 2007. All Provisions. Excludes from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. S.1963, Amends the Internal Revenue Code of 1986 to allow FHL Banks to support member banks letters of credit for tax-exempt bonds. H.R. 2091, Amends the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated bipartisan. H.R.2392, Balancing Act of 2007. All Provisions. Improves the lives of working families by providing family and medical need assistance, child care assistance, in-school and after-school assistance, family care assistance, and encouraging the establishment of family-friendly workplaces. H.R. 3506, Foreclosure Tax Relief Act of 2007. All Provisions. Excludes from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer. H.R. 3629, Providing Tax Fairness for Service Members and Veterans Act. All Provisions. 4 year extension of the election to include combat pay as earned income for purposes of the earned income credit and the use of qualified mortgage bonds to finance residences for veterans without regard to first-time homebuyer requirement. H.R. 3648, Mortgage Forgiveness Debt Relief Act of 2007. All Provisions. Excludes discharges of indebtedness on principal residences from gross income. H.R. 3742, Amends the Internal Revenue Code of 1986 to make permanent the use of qualified mortgage bonds to finance residences for veterans without regard to the first-time homebuyer requirement. H.R. 3906, Amends the Internal Revenue Code of 1986 to make permanent the deduction for State and local sales tax, the deduction for qualified tuition and related expenses, the deduction for mortgage interest premiums, and the modifications to the dependent care credit.
Client expense: $1,340,000 · Firm income: Not reported
Government targets: Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of, Veterans Affairs, Dept of (VA), White House Office
2008 · second_quarter · Taxation/Internal Revenue Code
H.R.3221, The Foreclosure Prevention Act of 2008. All Provisions. Provides for FHA Modernization, Modernization of the FHA Manufactured Housing Program, Mortgage Foreclosure Protections for Service Members, Emergency Assistance for the Redevelopment of Abandoned and Foreclosed Homes, and Matters. H.R.5267, Business Activity Tax Simplification Act of 2008 (BATSA). All Provisions. Regulates certain State taxation of interstate commerce, and for other purposes. H.R.5720, Housing Assistance Tax Act of 2008. All Provisions. Amends the Internal Revenue Code of 1986 to provide assistance for housing. S.1081, Flat Tax Act of 2007. All Provisions. Flat tax only on individual taxable earned income and business taxable income. S. 1394, Mortgage Cancellation Relief Act of 2007. All Provisions. Excludes from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. S.1416, A bill to amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. All provisions. Makes permanent the deduction for mortgage insurance premiums. H.R.1511, To amend the Servicemembers Civil Relief Act to provide relief with respect to rent and mortgage payments for members of the reserve components who are called to active duty and to amend to Internal Revenue Code of 1986 to allow a refundable. All provisions. Provides relief with respect to rent and mortgage payments for members of the reserve components who are called to active duty and to amend the Internal Revenue Code of 1986 to allow a refundable credit to lessors for payments foregone by reason of such relief. H.R. 1562, Katrina Housing Tax Relief Act of 2007. All Provisions. Extends and expands certain rules on housing in GO Zones. H.R. 1813, To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums - Section 1. Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1876, Mortgage Cancellation Relief Act of 2007. All Provisions. Excludes from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. S.1963, A bill to amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds. All Provisions. Allows FHLBanks to support member banks letters of credit for tax-exempt bonds. H.R.2091, To amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds. All provisions. Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income). H.R. 3506, Foreclosure Tax Relief Act of 2007. All Provisions. Excludes from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer. H.R. 3629, Providing Tax Fairness for Service Members and Veterans Act. All Provisions. 4 year extension of the election to include combat pay as earned income for purposes of the earned income credit and the use of qualified mortgage bonds to finance residences for veterans without regard to first-time homebuyer requirement. H.R. 3742, To amend the Internal Revenue Code of 1986 to make permanent the use of qualified mortgage bonds to finance residences for veterans without regard to the first-time homebuyer requirement - Section 1. Makes permanent the use of qualified mortgage bonds to finance residences for veterans without regard to the first-time homebuyer requirement. H.R. 3906, Middle Class Tax Relief of 2007 - Section 3. Makes permanent the deduction for State and local sales tax, the deduction for qualified tuition and related expenses, the deduction for mortgage interest premiums, and the modifications to the dependent care credit. H.R. 833, Rural Communities Investment Act of 2007. All Provisions. Excludes from gross income interest received on loans secured by agricultural real estate and rural housing. S.286, Rural Economic Investment Act of 2007. All Provisions. Exclude from gross income interest received on loans secured by agricultural real property.
Client expense: $1,204,000 · Firm income: Not reported
Government targets: Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of, Veterans Affairs, Dept of (VA), White House Office
2008 · second_quarter · Taxation/Internal Revenue Code
H.R. 1820 / S. 1556 - Tax Equity for Health Plan Beneficiaries Act of2007 S. 349 - Small Business and Work Opportunity Act of 2007 H.R. 1813 / S. 1416 - To amend the IRC of 1986 to make permanent the deduction of mortgage insurance premiums S. 396 - To amend the IRC of 1986 to treat controlled foreign corporations established in tax havens as domestic corporations
Client expense: $748,487 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · second_quarter · Taxation/Internal Revenue Code
HR 1813 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. S.1416 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums.
Client expense: Not reported · Firm income: $50,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · second_quarter · Taxation/Internal Revenue Code
H.R. 1677 - Taxpayer Protection Act of 2007 - Amends Internal Revenue Code provisions relating to tax administration and taxpayer protections including an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest. H.R. 1813 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1850 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. H.R. 2014 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. H.R. 2419 - Farm Bill Extension Act of 2007 - includes a provision that would catagorize what is considered a "like-kind" exchange under IRS section 1031. It would prohibit as like-kind the exchange of improved property for non-improved farm land. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income income received by a partner from an investment services partnership interest; also known as carried interest. H.R. 3221 - Housing bill which includes a $7000 tax rebate for homeowners who purchase a foreclosed home as well as a provision that allows for carryback losses in taxes, includes a FIRPTA fix that would allow escrow to hold documents, and allows for the use of mortgage bonds to refinance qualified subprime loans. H.R. 3997 - Defenders of Freedom Tax Relief Act of 2007 - Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. H.R. 5643 - First-Time Homebuyers' Tax Credit Act of 2008 - Amends the Internal Revenue Code to allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers). H.R. 5565 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent. H.R. 5720 - Housing Assistance Tax Act of 2008 - Amends the Internal Revenue Code relating to the low-income housing tax credit, tax-exempt housing bonds, real estate investment trusts (REITs) and to provide assistance to first-time home buyers and home owners. Allows first-time home buyers a refundable tax credit for 10% of the purchase price of a principal residence, up to $7,500; and (2) individual taxpayers who claim the standard deduction an additional deduction from gross income for state and local real property taxes. Modifies rules relating to REITs to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of an REIT's total assets that may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; and (4) treat rental payments made by a health care facility to an REIT as qualifying REIT income. H.R. 6049 - Renewable Energy and Job Creation Act of 2008 -Amends the Internal Revenue Code to provide tax incentives for energy production and conservation, to extend expiring tax provisions, and to extend tax benefits to individual and business taxpayers. This includes: the deduction of state and local taxes, use of mortgage bonds to refinance residences for veterans, 15-year leasehold improvement deduction, brownfield deduction, and includes a new standard property tax deduction of $350 ($700 for married individuals filing a joint tax return). H.R. 6081 - Heroes Earning Assistance and Relief Tax Act of 2008 -Amends the Internal Revenue Code to provide tax benefits and incentives for military personnel, makes permanent the exemption from the first-time homebuyer rule for veterans using mortgage revenue bonds to purchase a residence, increases the issuance limits on mortgage revenue bonds for veterans in Alaska, Oregon, and Wisconsin to $100 million after 2009, and revises the definition of "qualified veteran" for mortgage bond financing eligibility purposes to eliminate the pre-1977 active duty requirement and to reduce the eligibility period to 25 years. H.R. 6275 - Alternative Minimum Tax Relief Act of 2008 - Amends the Internal Revenue Code to: (1) increase and extend through 2008 the alternative minimum tax (AMT) exemption amounts; (2) extend through 2008 the offset of certain nonrefundable personal tax credits against regular and AMT tax liabilities; (3) treat net income and loss from an investment services partnership interest as ordinary income and loss. S. 1078 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. S. 1361 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S. 1624 - Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services. S. 1988 - First-Time Homebuyers' Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers). S. 2566 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
Client expense: $30,000 · Firm income: Not reported
Government targets: Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), SENATE, Treasury, Dept of
2008 · first_quarter · Taxation/Internal Revenue Code
HR 1813 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. S.1416 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums.
Client expense: Not reported · Firm income: $40,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2008 · first_quarter · Taxation/Internal Revenue Code
H.R.3221, The Foreclosure Prevention Act of 2008. All Provisions. Provides for FHA Modernization, Modernization of the FHA Manufactured Housing Program, Mortgage Foreclosure Protections for Service Members, Emergency Assistance for the Redevelopment of Abandoned and Foreclosed Homes, and Matters. S.1081, Flat Tax Act of 2007. All Provisions. Flat tax only on individual taxable earned income and business taxable income. S. 394, Mortgage Cancellation Relief Act of 2007. All Provisions. Excludes from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. S.1416, A bill to amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. All provisions. Makes permanent the deduction for mortgage insurance premiums. H.R.1511, To amend the Servicemembers Civil Relief Act to provide relief with respect to rent and mortgage payments for members of the reserve components who are called to active duty and to amend to Internal Revenue Code of 1986 to allow a refundable. All provisions. Provides relief with respect to rent and mortgage payments for members of the reserve components who are called to active duty and to amend the Internal Revenue Code of 1986 to allow a refundable credit to lessors for payments foregone by reason of such relief. H.R. 1562, Katrina Housing Tax Relief Act of 2007. All Provisions. Extends and expands certain rules on housing in GO Zones. H.R. 1813, To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums - Section 1. Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1876, Mortgage Cancellation Relief Act of 2007. All Provisions. Excludes from gross income of individual taxpayers discharges of indebtedness attributable to certain forgiven residential mortgage obligations. S.1963, A bill to amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds. All Provisions. Allows FHLBanks to support member banks letters of credit for tax-exempt bonds. H.R.2091, To amend the Internal Revenue Code of 1986 to allow bonds guaranteed by the Federal home loan banks to be treated as tax exempt bonds. All provisions. Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income). H.R. 3506, Foreclosure Tax Relief Act of 2007. All Provisions. Excludes from gross income certain amounts of cancellation of indebtedness income on account of a foreclosure on the mortgage secured by the principal residence of the taxpayer. H.R. 3629, Providing Tax Fairness for Service Members and Veterans Act. All Provisions. 4 year extension of the election to include combat pay as earned income for purposes of the earned income credit and the use of qualified mortgage bonds to finance residences for veterans without regard to first-time homebuyer requirement. H.R. 3648, Mortgage Forgiveness Debt Relief Act of 2007. All Provisions. Excludes discharges of indebtedness on principal residences from gross income. H.R. 3742, To amend the Internal Revenue Code of 1986 to make permanent the use of qualified mortgage bonds to finance residences for veterans without regard to the first-time homebuyer requirement - Section 1. Makes permanent the use of qualified mortgage bonds to finance residences for veterans without regard to the first-time homebuyer requirement. H.R. 3906, Middle Class Tax Relief of 2007 - Section 3. Makes permanent the deduction for State and local sales tax, the deduction for qualified tuition and related expenses, the deduction for mortgage interest premiums, and the modifications to the dependent care credit. H.R. 5140, Economic Stimulus Act of 2008. All Provisions. Provides economic stimulus through recovery rebates to individuals, incentives for business investment, and an increase in Fannie Mae/Freddie Mac and FHA loan limits. H.R. 833, Rural Communities Investment Act of 2007. All Provisions. Excludes from gross income interest received on loans secured by agricultural real estate and rural housing. S.286, Rural Economic Investment Act of 2007. All Provisions. Exclude from gross income interest received on loans secured by agricultural real property. H.R.5267, Business Activity Tax Simplification Act of 2008 (BATSA). All Provisions. Regulates certain State taxation of interstate commerce, and for other purposes. H.R.5720, Housing Assistance Tax Act of 2008. All Provisions. Amends the Internal Revenue Code of 1986 to provide assistance for housing.
Client expense: $1,020,000 · Firm income: Not reported
Government targets: Federal Housing Finance Agency (FHFA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), SENATE, Treasury, Dept of, Veterans Affairs, Dept of (VA), White House Office
2008 · first_quarter · Taxation/Internal Revenue Code
H.R. 1677 - Taxpayer Protection Act of 2007 - Amends Internal Revenue Code provisions relating to tax administration and taxpayer protections including an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest. H.R. 1147 - REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the maximum value of a REIT's total assets than may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets. H.R. 1813 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1850 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. H.R. 2014 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. H.R. 2419 - Farm Bill Extension Act of 2007 - includes a provision that would catagorize what is considered a "like-kind" exchange under IRS section 1031. It would prohibit as like-kind the exchange of improved property for non-improved farm land. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income income received by a partner from an investment services partnership interest; also known as carried interest. H.R. 3221 - Housing bill which includes a $7000 tax rebate for homeowners who purchase a foreclosed home as well as a provision that allows for carryback losses in taxes. H.R. 5643 - First-Time Homebuyers' Tax Credit Act of 2008 - Amends the Internal Revenue Code to allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers). H.R. 5565 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent. S. 1078 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. S. 1361 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S. 1624 - Amends the Internal Revenue Code to treat as corporations for income tax purposes certain publicly traded partnerships which directly or indirectly derive income or gain from providing services as an investment adviser (as defined by the Investment Advisers Act of 1940) or asset management services. S. 1988 - First-Time Homebuyers' Tax Credit Act of 2007 - Amends the Internal Revenue Code to allow an income-based, one-time refundable tax credit for first-time homebuyers of ten percent of a principal residence's purchase price ($3,000 maximum credit, $6,000 maximum credit for joint filers). S. 2566 - Amends the Internal Revenue Code to allow purchasers of a single-family principal residence a one-time tax credit for up to $15,000 of the purchase price. Requires such a residence to be purchased after February 29, 2008, and before March 1, 2009, and that it be: (1) a new previously unoccupied residence for which a building permit has been issued and construction began on or before September 1, 2007; (2) an owner-occupied residence with a mortgage indebtedness in default on or before March 1, 2008; or (3) in foreclosure and owned by the mortgagor or the mortgagor's agent.
Client expense: $30,000 · Firm income: Not reported
Government targets: Federal Communications Commission (FCC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), SENATE, Treasury, Dept of
2007 · year_end · Taxation/Internal Revenue Code
S. 1416 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. H.R. 1813 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. H.R. 3648To amend the Internal Revenue Code of 1986 to exclude discharges of indebtedness on principal residence from gross income, and for other purposes
Client expense: $810,000 · Firm income: Not reported
Government targets: Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, UNDETERMINED
2007 · year_end · Banking
H.R. 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums. S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums. HR 3648, Mortgage Forgiveness Debt Relief Act of 2007, Section 3
Client expense: $200,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2007 · year_end · Taxation/Internal Revenue Code
H.R. 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums. S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums. HR 3648, Mortgage Forgiveness Debt Relief Act of 2007, Section 3
Client expense: $200,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2007 · year_end · Insurance
H.R. 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums. S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums. HR 3648, Mortgage Forgiveness Debt Relief Act of 2007, Section 3
Client expense: $200,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2007 · year_end · Taxation/Internal Revenue Code
Business Activity Tax (S. 1726) Non-qualified Deferred Compensation Tax Treatment Mortgage Cancellation Tax Relief (H.R. 1876, S. 1394) Mortgage Insurance Deduction (S. 1416, H.R. 1813)
Client expense: $620,000 · Firm income: Not reported
Government targets: Executive Office of the President (EOP), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of
2007 · year_end · Taxation/Internal Revenue Code
HR 1813 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. S.1416 To amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums.
Client expense: Not reported · Firm income: $100,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2007 · year_end · Taxation/Internal Revenue Code
H.R. 1813 - To amend internal revenue code of 1986 to make permanent the deduction of mortgage insurance premiums S. 1416 - To amend internal revenue code of 1986 to make permanent the deduction of mortgage insurance premiums H.R. 3648 - Mortgage Forgiveness Debt Relief Act of 2007 H.R. 3506 - Foreclosure Tax Relief Act of 2007
Client expense: $2,420,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE
2007 · year_end · Taxation/Internal Revenue Code
S. 1416 and H.R. 1813, to amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums; H.R. 3648, the Mortgage Forgiveness Debt Relief Act of 2007
Client expense: Not reported · Firm income: $560,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2007 · year_end · Housing
HR1813 - To amend Internal Revenue code of 1986, to make permanent the deduction for Mortgage Insurance premium S1416 - To amend Internal Revenue code of 1986, to make permanent the deduction for Mortgage Insurance premium HR1852 - Expanding American Homeownership Act of 2007 S2338 - Expanding American Homeownership Act of 2007
Client expense: $2,100,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Labor, Dept of (DOL), SENATE
2007 · year_end · Taxation/Internal Revenue Code
Deductibility of mortgage insurance (H.R. 3648, H.R. 3996, H.R. 1813, S. 1416)
Client expense: Not reported · Firm income: $100,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2007 · year_end · Taxation/Internal Revenue Code
Real estate mortgage investment conduits; mortgage revenue bond liberalization (S. 2517); tax reporting proposals; deductibility of mortgage insurance (H.R. 3648, H.R. 3996, H.R. 1813, S. 1416)
Client expense: Not reported · Firm income: $100,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, UNDETERMINED
2007 · mid_year · Taxation/Internal Revenue Code
HR 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1 S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1
Client expense: $200,000 · Firm income: Not reported
Government targets: Federal Reserve System, Federal Retirement Thrift Investment Board, HOUSE OF REPRESENTATIVES, Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE
2007 · mid_year · Insurance
HR 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1 S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1
Client expense: $200,000 · Firm income: Not reported
Government targets: Federal Reserve System, Federal Retirement Thrift Investment Board, HOUSE OF REPRESENTATIVES, Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE
2007 · mid_year · Banking
HR 1427, Federal Housing Finance Reform Act of 2007, Sections 102, 1313, 1313a, 131, Part 2: Sec 132, 1321, 1337, 141, 1338 GSE Reform, Senate Banking Committee HR 1852, Expanding American Homeownership Act of 2007, Sections 6, 7, 8, 30 HR 1752, Expanding American Homeownership Act of 2007, Section 7 FHA Reform, Senate Banking Committee HR 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1 S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1
Client expense: $200,000 · Firm income: Not reported
Government targets: Federal Reserve System, Federal Retirement Thrift Investment Board, HOUSE OF REPRESENTATIVES, Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE
2007 · mid_year · Housing
HR 1427, Federal Housing Finance Reform Act of 2007, Sections 102, 1313, 1313a, 131, Part 2: Sec 132, 1321, 1337, 141, 1338 GSE Reform, Senate Banking Committee HR 1852, Expanding American Homeownership Act of 2007, Sections 6, 7, 8, 30 HR 1752, Expanding American Homeownership Act of 2007, Section 7 FHA Reform, Senate Banking Committee HR 1813, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1 S 1416, To amend the Internal Revenue Service Code of 1986 to make permanent the deduction for mortgage insurance premiums., Section 1
Client expense: $200,000 · Firm income: Not reported
Government targets: Federal Reserve System, Federal Retirement Thrift Investment Board, HOUSE OF REPRESENTATIVES, Office of Thrift Supervision (OTS), Office of the Comptroller of the Currency (OCC), SENATE
2007 · mid_year · Taxation/Internal Revenue Code
S. 1416/H.R. 1813 To Amend the Internal Revenue Code of 1986 to Make Permament the Deduction for Mortgage Insurance Premiums S. 822, Extend the Energy Efficiency Incentives Act of 2007
Client expense: $310,000 · Firm income: Not reported
Government targets: Environmental Protection Agency (EPA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE, Treasury, Dept of
2007 · mid_year · Housing
HR1427 - Federal Housing Finance Reform Act of 2007 S1100 - Federal Housing Enterprise Regulatory Reform Act of 2007 HR1813 - To amend Internal Revenue code of 1986, to make permanent the deduction for Mortgage Insurance premium S1416 - To amend Internal Revenue code of 1986, to make permanent the deduction for Mortgage Insurance premium HR1582 - Expanding American Homeownership Act of 2007
Client expense: $1,920,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE
2007 · mid_year · Taxation/Internal Revenue Code
Deductibility of mortgage insurance (H.R. 1813, S. 1416)
Client expense: Not reported · Firm income: $80,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2007 · mid_year · Taxation/Internal Revenue Code
S. 1416 and H.R. 1813, to amend the Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums
Client expense: Not reported · Firm income: $580,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2007 · mid_year · Taxation/Internal Revenue Code
H.R. 1813 - To amend internal revenue code of 1986 to make permanent the deduction of mortgage insurance premiums S. 1416 - To amend internal revenue code of 1986 to make permanent the deduction of mortgage insurance premiums
Client expense: $2,140,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), SENATE
2007 · mid_year · Housing
H.R. 1813 To Amend Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums. S. 1416 To Amend Internal Revenue Code of 1986 to make permanent the deduction for mortgage insurance premiums.
Client expense: Not reported · Firm income: $80,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2007 · mid_year · Taxation/Internal Revenue Code
H.R. 43 - Brownfields Housing and Community Renewal Development Act - Amends the Housing and Community Development Act of 1974 to establish a grants program for redevelopment activities for brownfield sites. H.R. 60 - Amends the Internal Revenue Code to make permanent the tax deduction for state and local general sales taxes. H.R. 411 - Amends the Internal Revenue Code to make permanent the tax deductions for state and local sales taxes, for certain expenses of elementary and secondary school teachers, and for tuition and related expenses. H.R. 778 - Amends the Internal Revenue Code to make permanent the tax credit for residential energy efficient property expenditures. H.R. 1077 - Internet Consumer Protection Act of 2007 - Amends the Internet Tax Freedom Act to make permanent the ban on state taxation of Internet access and on multiple or discriminatory taxes on electronic commerce. H.R. 1112 - Stealth Tax Relief Extension Act of 2007 - Amends the Internal Revenue Code to: (1) increase the exemption from the alternative minimum tax for individual taxpayers in 2007; and (2) extend through 2007 the allowance of certain nonrefundable tax credits against alternative minimum tax liability. H.R. 1147 - REIT Investment Diversification and Empowerment Act of 2007 - Amends Internal Revenue Code provisions relating to real estate investment trusts (REITs) to: (1) treat passive foreign exchange gains attributable to overseas real estate investment as qualifying REIT income; (2) increase from 20 to 25% the the maximum value of a REIT's total assets thay may be represented by securities of one or more taxable REIT subsidiaries; (3) revise safe harbor rules for the excise tax penalty on certain REIT sales activities; (4) treat rental payments made by a health care facility to a REIT as qualifying REIT income; and (5) treat income from, and interests in, foreign-qualified REITs as qualifying REIT income and assets. H.R. 1250 - Expensing Property Expands our Nation's Strong Economy Act of 2007 or the EXPENSE Act of 2007 - Amends the Internal Revenue Code to: (1) repeal the limitations on the expensing of depreciable business assets; and (2) allow taxpers to elect a two-year recovery period for depreciable property. H.R. 1261 - Capital Gains Inflation Relief Act of 2007 - Amends the Internal Revenue Code to allow an inflation adjustment based upon the gross domestic product deflator to the adjusted basis of certain assets (including C corporation common stock and tangible property used in a trade or business) held by a taxpayer for more than three years for purposes of determining gain or loss on the sale or other disposition of such assets. H.R. 1422 - Endangered Species Recovery Act of 2007- Amends the Internal Revenue Code to allow certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs relating to habitat protection easements and restoration. Places limits on the amount of such credit for calendar years 2008, 2009, 2010, 2011, and 2012. Directs the Comptroller General of the United States to study and report to Congress on the effectiveness of such credit. H.R. 1677 - Taxpayer Protection Act of 2007 - Amends Internal Revenue Code provisions relating to tax administration and taxpayer protections including an alternative procedure for furnishing a non-foreign affidavit in connection with the sale of a U.S. real property interest. H.R. 1753 - Amends the Internal Revenue Code to: (1) make permanent the current year tax deduction (expensing) for environmental remediation costs; and (2) repeal requirements for the recapture upon sale of such deduction as ordinary income. H.R. 1813 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. H.R. 1850 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. H.R. 1876 - Mortgage Cancellation Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to the discharge of certain residential mortgage obligations. H.R. 1942 - AMT Middle Class Fairness Act of 2007 - Amends Internal Revenue Code provisions relating to the alternative minimum tax (AMT) on individuals to: (1) allow a deduction from such tax for state and local taxes; and (2) adjust the AMT exemption amounts for inflation after 2006. H.R. 2014 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. H.R. 2091 - Amends the Internal Revenue Code to allow bonds guaranteed by any federal home loan bank to be treated as tax-exempt state or local bonds (thus excluding interest on such bonds from gross income). H.R. 2206 - U.S. Troop Readiness, Veterans' Care, Katrina Recovery, and Iraq Accountability Appropriations Act, 2007 – Included in this bill was a provision that would increase to $125,000 (with annual inflation adjustments) the expensing allowance for small business assets and extends such expensing allowance through 2010. H.R. 2318 - Amends the Internal Revenue Code to allow the tax deduction for state and local income and property taxes as an adjustment in computing alternative minium taxable income. H.R. 2380 - Death Tax Repeal Permanency Act of 2007 - Makes the repeal of the estate and generation-skipping transfer taxes under the Economic Growth and Tax Reconciliation Act of 2001 permanent (under the Act, those taxes would be reinstated after December 31, 2010). H.R. 2659 - Conservation Reserve Program Tax Fairness Act of 2007 - Amends the Internal Revenue Code and the Social Security Act to treat payments under the Conservation Acreage Reserve Program as rentals from real estate and thus not self employment income subject to employment tax. Transfers from the general fund of the Treasury to specified social security trust funds amounts necessary to cover any reductions in trust fund revenues resulting from this Act. H.R. 2715 - To amend the Internal Revenue Code of 1986 to include heavier vehicles in the limitation on the depreciation of certain luxury automobiles. H.R. 2737 - Health Care Relief Act of 2007 - To amend the Internal Revenue Code of 1986 to allow previously uninsured individuals a refundable credit for health insurance costs and to provide tax incentives to encourage small business health plans. H.R. 2834 - Amends the Internal Revenue Code to treat as ordinary income (i.e., income taxed at regular income tax rates) income received by a partner from an investment services partnership interest. Defines "investment services partnership interest" as any interest in a partnership held by a person who provides services to a partnership by: (1) advising the partnership as to the value of specified assets (e.g., real estate, commodities, or options or derivative contracts); (2) advising the partnership about investing in, purchasing, or selling specified assets; (3) managing, acquiring, or disposing of specified assets; or (4) arranging financing with respect to acquiring specified assets. H.R. 2893 - To amend the Internal Revenue Code of 1986 to provide that qualified homeowner downpayment assistance is a charitable purpose, and for other purposes. S. 138 - Amends the Internal Revenue Code to allow a surviving spouse to exclude from gross income up to $500,000 of the gain from the sale or exchange of a principal residence owned jointly with a deceased spouse if the sale or exchange occurs within two years of the death of the spouse and other ownership and use requirements have been met. S. 269 - Amends the Internal Revenue Code to: (1) increase the expensing allowance for depreciable business property from $100,000 to $200,000; (2) make such allowance permanent; (3) increase to $800,000 the asset cost threshold for calculating reductions in such allowance; (4) allow an annual inflation adjustment to the expensing allowance and the threshold amount after 2007; and (5) allow a taxpayer to revoke an election to expense such business property without the prior consent of the Secretary of the Treasury. S. 700 - Endangered Species Recovery Act of 2007- Amends the Internal Revenue Code to allow certain landowners whose property contains the habitat of an endangered or threatened species and who enter into a habitat protection agreement a tax credit for costs relating to habitat protection easements and restoration. Places limits on the amount of such credit for calendar years 2008, 2009, 2010, 2011, and 2012. Directs the Comptroller General of the United States to study and report to Congress on the effectiveness of such credit. S. 926 - Policyholder Disaster Protection Act of 2007 - Amends the Internal Revenue Code to allow insurance companies (other than life insurance companies) to make tax deductible contributions to a tax-exempt policyholder disaster protection fund established by this Act for the payment of policyholders' claims arising from certain catastrophic events, such as windstorms, earthquakes, fires, or floods. S. 1078 - Housing America's Workforce Act - Amends the Internal Revenue Code to allow employers a business tax credit for up to 50 percent of the qualified housing expenses paid for the benefit of their employees. Defines "qualified housing expenses" to include homeownership assistance and rental assistance. Limits the amount of such credit to the lesser of $10,000 or six percent of an employee's home purchase price, or up to $2,000 for rental assistance. Excludes from employee gross income the value of employer-paid housing assistance. S. 1155 - Conservation Reserve Program Tax Fairness Act of 2007 - Amends the Internal Revenue Code and the Social Security Act to treat payments under the Conservation Acreage Reserve Program as rentals from real estate and thus not self employment income subject to employment tax. Transfers from the general fund of the Treasury to specified social security trust funds amounts necessary to cover any reductions in trust fund revenues resulting from this Act. S. 1361 - Leasehold Improvement Depreciation Act of 2007 - Amends the Internal Revenue Code to: (1) make permanent the accelerated depreciation of qualified leasehold improvement property (i.e., a 15-year recovery period); and (2) modify the rule for determining the adjustment to earnings and profits for depreciation of such property. S. 1394 - Mortgage Cancellation Relief Act of 2007 - Amends the Internal Revenue Code to exclude from gross income amounts attributable to the discharge of certain residential mortgage obligations. S. 1416 - Amends the Internal Revenue Code to make permanent the tax deduction for mortgage insurance premiums. S . 1453 - ITFA Extension Act of 2007 - Amends the Internet Tax Freedom Act to extend until November 1, 2011: (1) the ban on state taxation of Internet access and on multiple or discriminatory taxes on electronic commerce; and (2) provisions allowing states with Internet tax laws enacted prior to the ban to continue enforcing such laws.
Client expense: $60,000 · Firm income: Not reported
Government targets: Environmental Protection Agency (EPA), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Interior, Dept of (DOI), Internal Revenue Service (IRS), Office of the Comptroller of the Currency (OCC), SENATE, Treasury, Dept of, Veterans Affairs, Dept of (VA)