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Legislative Progress
Introduced
January 13, 2015
Latest Action
January 13, 2015
Primary Sponsor
Sheldon WhitehouseDemocratic(RI)
Momentum (last 30 days)
0
score
0 actions · 0 new cosponsors · 0 votes
Speed vs cohort
0pct
0d open
vs 3,548 other S bills in the 114th — cohort avg 43d
Stop Tax Haven Abuse Act Authorizes the Secretary of the Treasury to impose restrictions on foreign jurisdictions or financial institutions operating in the United States that are of primary money laundering concern or that significantly impede U.S. tax enforcement. Amends the Internal Revenue Code to: expand reporting requirements for U.S. persons who hold an interest in a passive foreign investment company; establish a rebuttable presumption against the validity of transactions by institutions that do not comply with reporting requirements under the Foreign Account Tax Compliance Act; treat certain foreign corporations managed and controlled primarily in the United States as domestic corporations for tax purposes; require tax withholding agents and financial institutions to report certain information about beneficial owners of foreign-owned financial accounts; treat swap payments sent offshore as taxable U.S. source income; and impose additional requirements for third party summonses used to obtain information in tax investigations that do not identify the person with respect to whose liability the summons is issued (i.e., John Doe summons). Amends the Securities Exchange Act of 1934 to: (1) require corporations registered with the Securities and Exchange Commission to report annually, on a country-by country basis, on employees, gross revenues, payments made to governments, and other financial information; and (2) impose a fine for failure to disclose any holdings or transactions involving equity or debt instruments known to involve a foreign entity that would otherwise be subject to disclosure requirements. Makes investment advisers and persons engaged in forming new business entities subject to anti-money laundering requirements. Imposes new restrictions on U.S. corporations and other entities with foreign income with respect to: (1) tax deductions allocable to deferred foreign income, (2) the recalculation of foreign income taxes, (3) intangible property transferred overseas, (4) tax evasion activities by U.S. corporations reincorporating in a foreign country, and (5) the interest expense tax deduction of certain subsidiaries of foreign corporations with excess domestic indebtedness. Modifies rules for the taxation of inverted corporations (i.e., U.S. corporations that acquire foreign companies to reincorporate in a foreign jurisdiction with income tax rates lower than the United States) to provide that a foreign corporation that acquires the properties of a U.S. corporation or partnership after May 8, 2014, shall be treated as an inverted corporation and thus subject to U.S. taxation if, after such acquisition: (1) it holds more than 50% of the stock of the new entity (expanded affiliated group), or (2) the management or control of the new entity occurs primarily within the United States and the new entity has significant domestic business activities.
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Filing registrants (11)
Read twice and referred to the Committee on Finance.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
Currency Reform H.R. 5278: Puerto Rico Relief Bill, public pensions S. 198: Stop Corporate Inversions Act of 2015 S. 174: Stop Tax Haven Abuse: inversion Balanced budget amendment Puerto Rico debt crisis
Client expense: $760,000 · Firm income: Not reported
Government targets: Defense, Dept of (DOD), Election Assistance Commission (EAC), Energy, Dept of, Equal Employment Opportunity Commission (EEOC), Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), SENATE, Securities & Exchange Commission (SEC), Social Security Administration (SSA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
Currency Reform H.R. 5278: Puerto Rico Relief Bill, public pensions S. 198: Stop Corporate Inversions Act of 2015 S. 174: Stop Tax Haven Abuse: inversion Balanced budget amendment Puerto Rico debt crisis
Client expense: $760,000 · Firm income: Not reported
Government targets: Defense, Dept of (DOD), Election Assistance Commission (EAC), Energy, Dept of, Equal Employment Opportunity Commission (EEOC), Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), SENATE, Securities & Exchange Commission (SEC), Social Security Administration (SSA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · fourth_quarter · Taxation/Internal Revenue Code
Corporate Tax Reform Issues S 922, HR 1790, HR 3935- Corporate Tax Dodging Prevention Act HR 415, S 198- Stop Corporate Tax Inversions Act HR 5745- Financial Transaction Tax HR 2889, S 1686- Carried Interest Fairness Act HR 1464, S 1127- Stop Subsidizing Multimillion Corporate Bonus Act Federal income tax exclusion for interest on state and local government public purpose bonds Corporate tax, including rates, loopholes, territorial Repatriation tax rate and requirements S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act, and Schumer-Portman International Tax Plan) HR 1105- Estate tax Earned Income Tax Credit Child Tax Credit Federal tax reform impact on state and local government revenue S 698, HR 2775, Goodlatte draft- State and local tax on internet/remote sales HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act HR 4287- Wireless Tax Fairness Act Earned Income Tax Credit and Child Tax Credit Parity for Puerto Rico
Client expense: $550,000 · Firm income: Not reported
2016 · fourth_quarter · Taxation/Internal Revenue Code
Offshore taxation, HR 297, S 174; Corporate tax reform
Client expense: $20,000 · Firm income: Not reported
Government targets: Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), Consumer Product Safety Commission (CPSC), Education, Dept of, Environmental Protection Agency (EPA), Executive Office of the President (EOP), Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Reserve System, Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · fourth_quarter · Financial Institutions/Investments/Securities
Department of the Treasury Financial Crimes Enforcement Network Final Rule-Customer Due Diligence Requirements for Financial Institutions; RIN 1506-AB25; Docket Number FINCEN-2014-0001; 81 Fed. Reg. 29398 (May 11, 2016)-provisions requiring law firms that establish accounts at financial institutions on behalf of clients to disclose the identity and beneficial ownership information regarding those clients. Federal Deposit Insurance Corporation Notice of Proposed Rulemaking-Recordkeeping for Timely Deposit Insurance Determination; RIN 3064-AE33; 81 Fed. Reg. 10026 (February 26, 2016)-provisions requiring lawyers or law firms that establish and maintain client trust accounts at covered financial institutions to disclose the identity of their clients with funds in those accounts and the amount of the funds owned by each client. S. 174/H.R. 297, Stop Tax Haven Abuse Act-provisions subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act S.2489, H.R. 4450, the Incorporation Transparency and Law Enforcement Assistance Act - provisions requiring states, certain businesses, and company formation agents to obtain and disclose beneficial ownership information regarding new companies and subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act S. 3268, Closing Loopholes Against Money-Laundering Practices (CLAMP) Act-provisions requiring all United States entities to have an employer identification number issued by the Secretary of the Treasury and hence to file IRS Form SS-4 listing responsible party information for each entity in order to combat money laundering and terrorist financing.
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Government targets: Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Social Security Administration (SSA), Substance Abuse & Mental Health Services Administration (SAMHSA), Treasury, Dept of, White House Office
Client expense: $180,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Consumer Financial Protection Bureau (CFPB), Defense, Dept of (DOD), Education, Dept of, Federal Deposit Insurance Corporation (FDIC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Legal Services Corporation, Office of Management & Budget (OMB), Office of Personnel Management (OPM), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office
2016 · fourth_quarter · Commodities (big ticket)
H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 1163 (Futures Investor Protection Act); H.R. 2289 (Commodity End-User Relief Act); H.R. 5592 (Derivatives Oversight and Taxpayer Protection Act); H.R. 5983 (Financial CHOICE Act of 2016); S. 174 (Stop Tax Haven Abuse Act); S. 2917 (Commodity End-User Relief Act); S. 3118 (Derivatives Oversight and Taxpayer Protection Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); CFTC Cross-border Guidance and Exemptive Order (13-69); Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; Block trades; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR); CFTC Letter 14-140 on transaction-level requirements in certain cross-border situations; Inter-affiliate swap transaction; Margin requirements for uncleared swaps; Swap Execution Facilities (SEFs) and clearing for swaps; Global FX Code of Conduct; Decision to delay implementation for margin for non-centrally cleared swaps; Federal Reserve proposed rule on merchant banking and commodities; Office of the Comptroller of the Currency (OCC) proposed rule on commodities; CFTC proposed cross border rule; CFTC capital requirements for swap dealers and major swap participants.
Client expense: $2,560,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · fourth_quarter · Taxation/Internal Revenue Code
Monitor matters related to legislation affecting the tax treatment of carried interest, publicly traded partnerships; H.R. 297, S. 174, H.R. 2029 / P.L. 114-113; and comprehensive tax reform legislative activities.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · fourth_quarter · Taxation/Internal Revenue Code
Corporate Tax Reform Issues S 922, HR 1790, HR 3935- Corporate Tax Dodging Prevention Act HR 415, S 198- Stop Corporate Tax Inversions Act HR 5745- Financial Transaction Tax HR 2889, S 1686- Carried Interest Fairness Act HR 1464, S 1127- Stop Subsidizing Multimillion Corporate Bonus Act Federal income tax exclusion for interest on state and local government public purpose bonds Corporate tax, including rates, loopholes, territorial Repatriation tax rate and requirements S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act, and Schumer-Portman International Tax Plan) HR 1105- Estate tax Earned Income Tax Credit Child Tax Credit Federal tax reform impact on state and local government revenue S 698, HR 2775, Goodlatte draft- State and local tax on internet/remote sales HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act HR 4287- Wireless Tax Fairness Act Earned Income Tax Credit and Child Tax Credit Parity for Puerto Rico
Client expense: $540,000 · Firm income: Not reported
Government targets: Equal Employment Opportunity Commission (EEOC), HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Social Security Administration (SSA), Substance Abuse & Mental Health Services Administration (SAMHSA), Treasury, Dept of, White House Office
2016 · fourth_quarter · Taxation/Internal Revenue Code
Corporate Transparency and Accountability Act (H.R. 6126); Stop Tax Haven Abuse Act (H.R. 297, S. 174); international tax-related provisions of the White House's FY16 budget proposal and prospective comprehensive corporate tax reform packages; implementation of country-by-country reporting requirements under OECD Base Erosion and Profit Shifting initiative.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2016 · third_quarter · Taxation/Internal Revenue Code
Corporate Transparency and Accountability Act (H.R. 6126); Stop Tax Haven Abuse Act (H.R. 297, S. 174); international tax-related provisions of the White House's FY16 budget proposal and prospective comprehensive corporate tax reform packages; implementation of country-by-country reporting requirements under OECD Base Erosion and Profit Shifting initiative.
Client expense: Not reported · Firm income: Not reported
Government targets: Financial Crimes Enforcement Network (FinCEN), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Securities & Exchange Commission (SEC), Treasury, Dept of
2016 · third_quarter · Commodities (big ticket)
H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 1163 (Futures Investor Protection Act); H.R. 2289 (Commodity End-User Relief Act); H.R. 5592 (Derivatives Oversight and Taxpayer Protection Act); H.R. 5983 (Financial CHOICE Act of 2016); S. 174 (Stop Tax Haven Abuse Act); S. 2917 (Commodity End-User Relief Act); S. 3118 (Derivatives Oversight and Taxpayer Protection Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); CFTC Cross-border Guidance and Exemptive Order (13-69); Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; Block trades; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR); CFTC Letter 14-140 on transaction-level requirements in certain cross-border situations; Inter-affiliate swap transaction; Margin requirements for uncleared swaps; Swap Execution Facilities (SEFs) and clearing for swaps; Global FX Code of Conduct; Decision to delay implementation for margin for non-centrally cleared swaps; Federal Reserve proposed rule on merchant banking and commodities; Office of the Comptroller of the Currency (OCC) proposed rule on commodities.
Client expense: $1,620,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · third_quarter · Financial Institutions/Investments/Securities
Department of the Treasury Financial Crimes Enforcement Network Final Rule-Customer Due Diligence Requirements for Financial Institutions; RIN 1506-AB25; Docket Number FINCEN-2014-0001; 81 Fed. Reg. 29398 (May 11, 2016)-provisions requiring law firms that establish accounts at financial institutions on behalf of clients to disclose the identity and beneficial ownership information regarding those clients. Federal Deposit Insurance Corporation Notice of Proposed Rulemaking-Recordkeeping for Timely Deposit Insurance Determination; RIN 3064-AE33; 81 Fed. Reg. 10026 (February 26, 2016)-provisions requiring lawyers or law firms that establish and maintain client trust accounts at covered financial institutions to disclose the identity of their clients with funds in those accounts and the amount of the funds owned by each client. S. 174/H.R. 297, Stop Tax Haven Abuse Act-provisions subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act S.2489, H.R. 4450, the Incorporation Transparency and Law Enforcement Assistance Act - provisions requiring states, certain businesses, and company formation agents to obtain and disclose beneficial ownership information regarding new companies and subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act S. 3268, Closing Loopholes Against Money-Laundering Practices (CLAMP) Act-provisions requiring all United States entities to have an employer identification number issued by the Secretary of the Treasury and hence to file IRS Form SS-4 listing responsible party information for each entity in order to combat money laundering and terrorist financing.
Client expense: $240,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Consumer Financial Protection Bureau (CFPB), Defense, Dept of (DOD), Education, Dept of, Federal Deposit Insurance Corporation (FDIC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Legal Services Corporation, Office of Management & Budget (OMB), Office of Personnel Management (OPM), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office
2016 · third_quarter · Taxation/Internal Revenue Code
Monitor matters related to legislation affecting the tax treatment of carried interest, publicly traded partnerships; H.R. 297, S. 174, H.R. 2029 / P.L. 114-113; and comprehensive tax reform legislative activities.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · third_quarter · Taxation/Internal Revenue Code
FY 2017 Budget, including corporate tax proposals and reforms to international tax policy; H.R. 415, Stop Corporate Inversions Act of 2015; S. 174, Stop Tax Haven Abuse Act; S. 386, H.R. 2315 Mobile Workforce State Income Tax Simplification Act of 2015; S. 698, H.R. 2775, Marketplace Fairness Act of 2015; H.R. 880, American Research and Competitiveness Act of 2015; H.R. 1430, Permanent CFC Look-Through Act of 2015; draft Tax Parity for Health Plan Beneficiaries Act; Congressional proposals related to international taxation and innovation box proposals; H.R. 1643, S. 851, Digital Goods and Services Tax Fairness Act; issues related to providing economic incentives to the Commonwealth of Puerto Rico; issues related to Corporate integration; Treasury 385 debt-to-equity regulations.
Client expense: $1,060,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Labor, Dept of (DOL), Natl Economic Council (NEC), Office of Science & Technology Policy (OSTP), Patent & Trademark Office (PTO), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · third_quarter · Taxation/Internal Revenue Code
HR 1270- Bill to increase repayments of ACA tax credits and expand health savings accounts Corporate Tax Reform Issues, including rates, loopholes, territorial S 922, HR 1790, HR 3935- Corporate Tax Dodging Prevention Act HR 415, S 198- Stop Corporate Tax Inversions Act Financial Transaction Tax HR 2889, S 1686- Carried Interest Fairness Act HR 1464, S 1127- Stop Subsidizing Multimillion Corporate Bonus Act Federal income tax exclusion for interest on state and local government public purpose bonds Repatriation tax rate and rules S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act and Schumer-Portman International Tax Plan) Earned Income Tax Credit; Child Tax Credit Federal tax reform impact on state and local government revenue S 698, HR 2775, Omnibus, Goodlatte discussion draft- State and local tax on internet, remote sales HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act State and local tax on wireless phone services
Client expense: $620,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Social Security Administration (SSA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
Issues related to the Affordable Care Act and the Services Contract Act and how benefits are applied. Presidents FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R. 297, Stop Tax Haven Abuse Act; H.R. 235, Permanent Internet Tax Freedom Act; H.R. 415, Stop Corporate Inversions Act of 2015; S. 174, Stop Tax Haven Abuse Act; S. 386, Mobile Workforce State Income Tax Simplification Act of 2015; S. 431, Internet Tax Freedom Forever Act; S. 537, COMPETE Act of 2015; S. 698, Marketplace Fairness Act of 2015; H.R. 880, American Research and Competitiveness Act of 2015; H.R. 1430, Permanent CFC Look-Through Act of 2015; H.R. 961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; H. Con. Res. 27, Budget for the United States Government for fiscal year 2016; S. Con. Res. 11 Budget for the United States Government for fiscal year 2016; Amendments to S. Con. Res. 11 Budget for the United States Government for fiscal year 2016: Hatch amendment #1029, deficit neutral reserve fund for legislation preventing American jobs from being moved overseas, which may include a reduction in the corporate income tax rate; Thune-Brown amendment supporting the principle of Mobile Workforce legislation to prevent unexpected or double taxation of employees as they travel outside of their home state for temporary work assignments; Durbin amendment 817, tax increases for companies that ship jobs overseas, credits for patriot employers; Stabenow amendment 523, increase taxes, encourage insourcing of jobs currently overseas; Sanders amendment 323, raise taxes to increase spending on infrastructure; Senate Committee on Finance Working Groups on Business Tax Reform and International Tax Reform; Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals. Issues relating to: tax reform, international taxation, R&D tax credit, extenders, corporate integration, and IP/innovation/patent box. H.R. 5278, Puerto Rico, Oversight, Management, and Economic Stability Act (PROMESA) Proposed Treasury regulation on Section 385. House Republican Tax Reform Blueprint A Better Way.
Client expense: $430,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE, U.S. Trade Representative (USTR)
2016 · second_quarter · Taxation/Internal Revenue Code
HR 4723- repayments of Affordable Care Act tax credits when income/family situation changes ACA and tax treatment of health care, alternatives to the ACA, ending the tax exclusion for employer-provided health care, policies to rein in prescription drug costs HR 1270- bill to increase repayments of ACA tax credits and expand health savings accounts Financial Transaction Tax HR 2889, S 1686- Carried Interest Fairness Act HR 1464, S 1127- Stop Subsidizing Multimillion Corporate Bonus Act Tax extenders, including Active Financing Exception; CFC Look-Through Rule; Research and Experimentation Tax Credit; Bonus Depreciation; Section 179 Expensing Federal income tax exclusion for interest on state and local government public purpose bonds Corporate tax, including rates, loopholes, territorial Repatriation tax rate and rules S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act and Schumer-Portman International Tax Plan) S 198, HR 415- Tax on inversions (e.g. Stop Corporate Inversions Act) Federal tax reform impact on state and local government revenue S 698, HR 2775, Omnibus- State and local tax on internet/remote sales HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act S 386, HR 2315- Mobile Workforce State Income Tax Simplification Act State and local tax on wireless phone services S 790- Economic Freedom Zones Act of 2015
Client expense: $660,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Social Security Administration (SSA), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · second_quarter · Taxation/Internal Revenue Code
H.R. 915 (Voices for Veterans Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); S. 2252 (Fair Playing Field Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); Achieving a Better Life Experience (ABLE) Act implementation; IRS regulations on dividend equivalents under Section 871(m); U.S. Treasury participation in Organisation for Economic Co-operation and Development discussions regarding deductibility of interest for financial firms; Tax treatment of municipal bond interest; Treasury regulations under Internal Revenue Code Section 385; Modernization of Derivatives Tax Act (MODA); Chapters 3 and 4 of Subtitle A of the Internal Revenue Code (responsibilities of financial institutions).
Client expense: $1,560,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · second_quarter · Commodities (big ticket)
H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 1163 (Futures Investor Protection Act); H.R. 2289 (Commodity End-User Relief Act); S. 174 (Stop Tax Haven Abuse Act); S. 2917 (Commodity End-User Relief Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); CFTC Cross-border Guidance and Exemptive Order (13-69); Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; Block trades; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR); CFTC Letter 14-140 on transaction-level requirements in certain cross-border situations; Inter-affiliate swap transaction; Margin requirements for uncleared swaps; Swap Execution Facilities (SEFs) and clearing for swaps; Global FX Code of Conduct; Decision to delay implementation for margin for non-centrally cleared swaps.
Client expense: $1,560,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · second_quarter · Taxation/Internal Revenue Code
H.R. 297, S. 174, Stop Tax Haven Abuse Act; international tax-related provisions of the White House's FY16 budget proposal and prospective comprehensive corporate tax reform packages; implementation of country-by-country reporting requirements under OECD Base Erosion and Profit Shifting initiative.
Client expense: Not reported · Firm income: Not reported
Government targets: Financial Crimes Enforcement Network (FinCEN), HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), Office of Personnel Management (OPM), SENATE, Treasury, Dept of
Currency Reform H.R. 5278: Puerto Rico Relief Bill, public pensions S. 198: Stop Corporate Inversions Act of 2015 S. 174: Stop Tax Haven Abuse: inversion Balanced budget amendment Puerto Rico debt crisis
Client expense: $760,000 · Firm income: Not reported
Government targets: Defense, Dept of (DOD), Election Assistance Commission (EAC), Energy, Dept of, Equal Employment Opportunity Commission (EEOC), Federal Communications Commission (FCC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), Occupational Safety & Health Administration (OSHA), Office of Management & Budget (OMB), SENATE, Securities & Exchange Commission (SEC), Social Security Administration (SSA), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · second_quarter · Financial Institutions/Investments/Securities
Department of the Treasury Financial Crimes Enforcement Network Final Rule-Customer Due Diligence Requirements for Financial Institutions; RIN 1506-AB25; Docket Number FINCEN-2014-0001; 81 Fed. Reg. 29398 (May 11, 2016)-provisions requiring law firms that establish accounts at financial institutions on behalf of clients to disclose the identity and beneficial ownership information regarding those clients. Federal Deposit Insurance Corporation Notice of Proposed Rulemaking-Recordkeeping for Timely Deposit Insurance Determination; RIN 3064-AE33; 81 Fed. Reg. 10026 (February 26, 2016)-provisions requiring lawyers or law firms that establish and maintain client trust accounts at covered financial institutions to disclose the identity of their clients with funds in those accounts and the amount of the funds owned by each client. S. 174/H.R. 297, Stop Tax Haven Abuse Act-provisions subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act S.2489, H.R. 4450, the Incorporation Transparency and Law Enforcement Assistance Act - provisions requiring states, certain businesses, and company formation agents to obtain and disclose beneficial ownership information regarding new companies and subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act
Client expense: $250,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Defense, Dept of (DOD), Education, Dept of, Federal Deposit Insurance Corporation (FDIC), HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Labor, Dept of (DOL), Legal Services Corporation, Office of Management & Budget (OMB), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office
2016 · second_quarter · Taxation/Internal Revenue Code
Monitor matters related to legislation affecting the tax treatment of carried interest, publicly traded partnerships; H.R. 297, S. 174, H.R. 2029 / P.L. 114-113; and comprehensive tax reform legislative activities.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2016 · second_quarter · Taxation/Internal Revenue Code
FY 2017 Budget, including corporate tax proposals and reforms to international tax policy; H.R. 415, Stop Corporate Inversions Act of 2015; S. 174, Stop Tax Haven Abuse Act; S. 386, H.R. 2315 Mobile Workforce State Income Tax Simplification Act of 2015; S. 698, H.R. 2775, Marketplace Fairness Act of 2015; H.R. 880, American Research and Competitiveness Act of 2015; H.R. 1430, Permanent CFC Look-Through Act of 2015; draft Tax Parity for Health Plan Beneficiaries Act; Congressional proposals related to international taxation and innovation box proposals; H.R. 1643, S. 851, Digital Goods and Services Tax Fairness Act; issues related to providing economic incentives to the Commonwealth of Puerto Rico; issues related to Corporate integration; Treasury 385 debt-to-equity regulations.
Client expense: $900,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Labor, Dept of (DOL), Natl Economic Council (NEC), Office of Science & Technology Policy (OSTP), Patent & Trademark Office (PTO), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
Issues related to the Affordable Care Act and the Services Contract Act and how benefits are applied. Presidents FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R. 297, Stop Tax Haven Abuse Act; H.R. 235, Permanent Internet Tax Freedom Act; H.R. 415, Stop Corporate Inversions Act of 2015; S. 174, Stop Tax Haven Abuse Act; S. 386, Mobile Workforce State Income Tax Simplification Act of 2015; S. 431, Internet Tax Freedom Forever Act; S. 537, COMPETE Act of 2015; S. 698, Marketplace Fairness Act of 2015; H.R. 880, American Research and Competitiveness Act of 2015; H.R. 1430, Permanent CFC Look-Through Act of 2015; H.R. 961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; H. Con. Res. 27, Budget for the United States Government for fiscal year 2016; S. Con. Res. 11 Budget for the United States Government for fiscal year 2016; Amendments to S. Con. Res. 11 Budget for the United States Government for fiscal year 2016: Hatch amendment #1029, deficit neutral reserve fund for legislation preventing American jobs from being moved overseas, which may include a reduction in the corporate income tax rate; Thune-Brown amendment supporting the principle of Mobile Workforce legislation to prevent unexpected or double taxation of employees as they travel outside of their home state for temporary work assignments; Durbin amendment 817, tax increases for companies that ship jobs overseas, credits for patriot employers; Stabenow amendment 523, increase taxes, encourage insourcing of jobs currently overseas; Sanders amendment 323, raise taxes to increase spending on infrastructure; Senate Committee on Finance Working Groups on Business Tax Reform and International Tax Reform; Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals. Issues relating to: tax reform, international taxation, R&D tax credit, extenders, corporate integration, and IP/innovation/patent box. H.R. 5278, Puerto Rico, Oversight, Management, and Economic Stability Act (PROMESA) Proposed Treasury regulation on Section 385.
Client expense: $490,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Commerce, Dept of (DOC), HOUSE OF REPRESENTATIVES, SENATE, U.S. Trade Representative (USTR)
Issues related to the Affordable Care Act and the Services Contract Act and how benefits are applied. Presidents FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R.297, Stop Tax Haven Abuse Act; H.R.235, Permanent Internet Tax Freedom Act; H.R.415, Stop Corporate Inversions Act of 2015; S.174, Stop Tax Haven Abuse Act; S.386, Mobile Workforce State Income Tax Simplification Act of 2015; S.431, Internet Tax Freedom Forever Act; S.537, COMPETE Act of 2015; S.698, Marketplace Fairness Act of 2015; H.R.880, American Research and Competitiveness Act of 2015; H.R.1430, Permanent CFC Look-Through Act of 2015; H.R.961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; H. Con. Res. 27, Budget for the United States Government for fiscal year 2016; S. Con. Res. 11 Budget for the United States Government for fiscal year 2016; Amendments to S. Con. Res. 11 Budget for the United States Government for fiscal year 2016: Hatch amendment #1029, deficit neutral reserve fund for legislation preventing American jobs from being moved overseas, which may include a reduction in the corporate income tax rate; Thune-Brown amendment supporting the principle of Mobile Workforce legislation to prevent unexpected or double taxation of employees as they travel outside of their home state for temporary work assignments; Durbin amendment 817, tax increases for companies that ship jobs overseas, credits for patriot employers; Stabenow amendment 523, increase taxes, encourage insourcing of jobs currently overseas; Sanders amendment 323, raise taxes to increase spending on infrastructure; Senate Committee on Finance Working Groups on Business Tax Reform and International Tax Reform; Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals. Issues relating to: tax reform, international taxation, R&D tax credit, extenders, corporate integration, and IP/innovation/patent box.
Client expense: $320,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, SENATE, U.S. Trade & Development Agency (USTDA)
2016 · second_quarter · Taxation/Internal Revenue Code
HR 4723- repayments of Affordable Care Act tax credits when income/family situation changes ACA and tax treatment of health care, alternatives to the ACA, ending the tax exclusion for employer-provided health care, policies to rein in prescription drug costs HR 1270- bill to increase repayments of ACA tax credits and expand health savings accounts Financial Transaction Tax HR 2889, S 1686- Carried Interest Fairness Act HR 1464, S 1127- Stop Subsidizing Multimillion Corporate Bonus Act Tax extenders, including Active Financing Exception; CFC Look-Through Rule; Research and Experimentation Tax Credit; Bonus Depreciation; Section 179 Expensing Federal income tax exclusion for interest on state and local government public purpose bonds Corporate tax, including rates, loopholes, territorial Repatriation tax rate and rules S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act and Schumer-Portman International Tax Plan) S 198, HR 415- Tax on inversions (e.g. Stop Corporate Inversions Act) Federal tax reform impact on state and local government revenue S 698, HR 2775, Omnibus- State and local tax on internet/remote sales HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act S 386, HR 2315- Mobile Workforce State Income Tax Simplification Act State and local tax on wireless phone services S 790- Economic Freedom Zones Act of 2015
Client expense: $650,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), SENATE, Social Security Administration (SSA), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · first_quarter · Taxation/Internal Revenue Code
H.R. 915 (Voices for Veterans Act); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 351 (Mortgage Debt Tax Relief Act); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); S. 2252 (Fair Playing Field Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); Achieving a Better Life Experience (ABLE) Act implementation; IRS regulations on dividend equivalents under Section 871(m); U.S. Treasury participation in Organisation for Economic Co-operation and Development discussions regarding deductibility of interest for financial firms; Tax treatment of municipal bond interest.
Client expense: $1,660,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · first_quarter · Commodities (big ticket)
H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 1163 (Futures Investor Protection Act); H.R. 2289 (Commodity End-User Relief Act); S. 174 (Stop Tax Haven Abuse Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); CFTC Cross-border Guidance and Exemptive Order (13-69); Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; Block trades; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR); CFTC Letter 14-140 on transaction-level requirements in certain cross-border situations; Inter-affiliate swap transaction; Margin requirements for uncleared swaps.
Client expense: $1,660,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2016 · first_quarter · Financial Institutions/Investments/Securities
Department of the Treasury Financial Crimes Enforcement Network Notice of Proposed Rulemaking on Customer Due Diligence Requirements for Financial Institutions, RIN 1506-AB25, Docket Number FINCEN-2014-0001, 79 Fed. Reg. 45151 (August 4, 2014)-provisions that could require law firms that establish accounts at financial institutions on behalf of clients to disclose the identity and beneficial ownership information regarding those clients S. 174/H.R. 297, Stop Tax Haven Abuse Act-provisions subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act S.2489, H.R. 4450, the Incorporation Transparency and Law Enforcement Assistance Act - provisions requiring states, certain businesses, and company formation agents to obtain and disclose beneficial ownership information regarding new companies and subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act
Client expense: $210,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Education, Dept of, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Legal Services Corporation, SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
Issues related to the Affordable Care Act and the Services Contract Act and how benefits are applied. Presidents FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R.297, Stop Tax Haven Abuse Act; H.R.235, Permanent Internet Tax Freedom Act; H.R.415, Stop Corporate Inversions Act of 2015; S.174, Stop Tax Haven Abuse Act; S.386, Mobile Workforce State Income Tax Simplification Act of 2015; S.431, Internet Tax Freedom Forever Act; S.537, COMPETE Act of 2015; S.698, Marketplace Fairness Act of 2015; H.R.880, American Research and Competitiveness Act of 2015; H.R.1430, Permanent CFC Look-Through Act of 2015; H.R.961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; H. Con. Res. 27, Budget for the United States Government for fiscal year 2016; S. Con. Res. 11 Budget for the United States Government for fiscal year 2016; Amendments to S. Con. Res. 11 Budget for the United States Government for fiscal year 2016: Hatch amendment #1029, deficit neutral reserve fund for legislation preventing American jobs from being moved overseas, which may include a reduction in the corporate income tax rate; Thune-Brown amendment supporting the principle of Mobile Workforce legislation to prevent unexpected or double taxation of employees as they travel outside of their home state for temporary work assignments; Durbin amendment 817, tax increases for companies that ship jobs overseas, credits for patriot employers; Stabenow amendment 523, increase taxes, encourage insourcing of jobs currently overseas; Sanders amendment 323, raise taxes to increase spending on infrastructure; Senate Committee on Finance Working Groups on Business Tax Reform and International Tax Reform; Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals. Issues relating to: tax reform, international taxation, R&D tax credit, extenders, corporate integration, and IP/innovation/patent box.
Client expense: $330,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, SENATE, U.S. Trade & Development Agency (USTDA)
2016 · first_quarter · Taxation/Internal Revenue Code
FY 2017 Budget, including corporate tax proposals and reforms to international tax policy; H.R. 415, Stop Corporate Inversions Act of 2015; S. 174, Stop Tax Haven Abuse Act; S. 386, H.R. 2315 Mobile Workforce State Income Tax Simplification Act of 2015; S. 698, H.R. 2775, Marketplace Fairness Act of 2015; H.R. 880, American Research and Competitiveness Act of 2015; H.R. 1430, Permanent CFC Look-Through Act of 2015; draft Tax Parity for Health Plan Beneficiaries Act; Congressional proposals related to international taxation and innovation box proposals; H.R. 1643, S. 851, Digital Goods and Services Tax Fairness Act; issues related to providing economic incentives to the Commonwealth of Puerto Rico; issues related to Corporate integration.
Client expense: $1,045,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Labor, Dept of (DOL), Natl Economic Council (NEC), Office of Science & Technology Policy (OSTP), Patent & Trademark Office (PTO), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2016 · first_quarter · Taxation/Internal Revenue Code
H.R. 297, S. 174, Stop Tax Haven Abuse Act; H.R. 415, S. 198, Stop Corporate Inversions Act; international tax-related provisions of the White House's FY16 budget proposal and prospective comprehensive corporate tax reform packages.
Client expense: $10,000 · Firm income: Not reported
Government targets: General Services Administration (GSA), HOUSE OF REPRESENTATIVES, Natl Aeronautics & Space Administration (NASA), Office of Management & Budget (OMB), SENATE, White House Office
2016 · first_quarter · Taxation/Internal Revenue Code
Monitor matters related to legislation affecting the tax treatment of carried interest, publicly traded partnerships; H.R. 297, S. 174, H.R. 2029 / P.L. 114-113; and comprehensive tax reform legislative activities.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2015 · fourth_quarter · Budget/Appropriations
Tax reform, Senate Finance and House Ways and Means, specifically S. 174, H.R. 297, H.R. 415 tax extenders
Client expense: $50,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), Consumer Product Safety Commission (CPSC), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Telecommunications & Information Administration (NTIA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2015 · third_quarter · Budget/Appropriations
Tax reform, Senate Finance and House Ways and Means, specifically S. 174, H.R. 297, H.R. 415 tax extenders
Client expense: $60,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), Consumer Product Safety Commission (CPSC), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Telecommunications & Information Administration (NTIA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2015 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 915 (Voices for Veterans Act); H.R. 961 (To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income); H.R. 1002 (Mortgage Forgiveness Tax Relief Act of 2015); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1430 (Permanent CFC Look-Through Act of 2015); H.R. 2029 (Consolidated Appropriations Act, 2016); H.R. 2128 (Real Estate Investment and Jobs Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); H.R. 3832 (Stolen Identify Refund Fraud Prevention Act of 2015); H.R. 3856 (Information Reporting Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 351 (Mortgage Debt Tax Relief Act); S. 915 (Real Estate Investment and Jobs Act of 2015); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); S.2252 (Fair Playing Field Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Tax characteristics of nominal negative interest payments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); IRS notice 2015-47 (Listing Notice - Basket Option Contracts); IRS notice 2015-48 (Transaction of Interest - Basket Contracts); Achieving a Better Life Experience (ABLE) Act implementation; Protecting Americans from Tax Hikes (PATH) Act; IRS regulations on dividend equivalents under Section 871(m).
Client expense: $2,440,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2015 · fourth_quarter · Commodities (big ticket)
H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 1163 (Futures Investor Protection Act); H.R. 2289 (Commodity End-User Relief Act); S. 174 (Stop Tax Haven Abuse Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); CFTC Cross-border Guidance and Exemptive Order (13-69); Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; IHS Global report on the Role of Banks in Physical Commodities; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; The Volcker Rule; Block trades; Insurance-linked securities; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR); CFTC Letter 14-140 on transaction-level requirements in certain cross-border situations; Inter-affiliate swap transaction; Margin requirements for uncleared swaps.
Client expense: $2,440,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2015 · fourth_quarter · Budget/Appropriations
Tax reform, Senate Finance and House Ways and Means, specifically S. 174, H.R. 297, H.R. 415 tax extenders
Client expense: $20,411 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Consumer Financial Protection Bureau (CFPB), Consumer Product Safety Commission (CPSC), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Federal Trade Commission (FTC), Food & Drug Administration (FDA), HOUSE OF REPRESENTATIVES, Housing & Urban Development, Dept of (HUD), Justice, Dept of (DOJ), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Telecommunications & Information Administration (NTIA), Office of Management & Budget (OMB), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Transportation, Dept of (DOT), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
Issues related to the Affordable Care Act and the Services Contract Act and how benefits are applied. Presidents FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R.297, Stop Tax Haven Abuse Act; H.R.235, Permanent Internet Tax Freedom Act; H.R.415, Stop Corporate Inversions Act of 2015; S.174, Stop Tax Haven Abuse Act; S.386, Mobile Workforce State Income Tax Simplification Act of 2015; S.431, Internet Tax Freedom Forever Act; S.537, COMPETE Act of 2015; S.698, Marketplace Fairness Act of 2015; H.R.880, American Research and Competitiveness Act of 2015; H.R.1430, Permanent CFC Look-Through Act of 2015; H.R.961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; H. Con. Res. 27, Budget for the United States Government for fiscal year 2016; S. Con. Res. 11 Budget for the United States Government for fiscal year 2016; Amendments to S. Con. Res. 11 Budget for the United States Government for fiscal year 2016: Hatch amendment #1029, deficit neutral reserve fund for legislation preventing American jobs from being moved overseas, which may include a reduction in the corporate income tax rate; Thune-Brown amendment supporting the principle of Mobile Workforce legislation to prevent unexpected or double taxation of employees as they travel outside of their home state for temporary work assignments; Durbin amendment 817, tax increases for companies that ship jobs overseas, credits for patriot employers; Stabenow amendment 523, increase taxes, encourage insourcing of jobs currently overseas; Sanders amendment 323, raise taxes to increase spending on infrastructure; Senate Committee on Finance Working Groups on Business Tax Reform and International Tax Reform; Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals.
Client expense: $472,000 · Firm income: Not reported
Government targets: Agriculture, Dept of (USDA), HOUSE OF REPRESENTATIVES, SENATE
2015 · fourth_quarter · Taxation/Internal Revenue Code
H.R. 297, S. 174, Stop Tax Haven Abuse Act. H.R. 415, S. 198, Stop Corporate Inversions Act. H.R. 413, Partnership to Build America Act, and various other proposals for repatriation tax holidays to fund infrastructure spending. International tax-related provisions of the White House's FY16 budget proposal and prospective comprehensive corporate tax reform packages.
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2015 · fourth_quarter · Financial Institutions/Investments/Securities
Department of the Treasury Financial Crimes Enforcement Network Notice of Proposed Rulemaking on Customer Due Diligence Requirements for Financial Institutions, RIN 1506-AB25, Docket Number FINCEN-2014-0001, 79 Fed. Reg. 45151 (August 4, 2014)-provisions that could require law firms that establish accounts at financial institutions on behalf of clients to disclose the identity and beneficial ownership information regarding those clients S. 174/H.R. 297, Stop Tax Haven Abuse Act-provisions subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act Draft legislation requiring states, certain businesses, and company formation agents to obtain and disclose beneficial ownership information regarding new companies and subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act
Client expense: $230,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Education, Dept of, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Legal Services Corporation, SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office
2015 · fourth_quarter · Taxation/Internal Revenue Code
FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R. 235, Permanent Internet Tax Freedom Act; H.R. 415, Stop Corporate Inversions Act of 2015; S. 174, Stop Tax Haven Abuse Act; S. 386, Mobile Workforce State Income Tax Simplification Act of 2015; S. 431, Internet Tax Freedom Forever Act; S. 698, Marketplace Fairness Act of 2015; H.R. 880, American Research and Competitiveness Act of 2015; H.R. 1430, Permanent CFC Look-Through Act of 2015; H.R. 961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; draft Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals. H.R. 2029 Consolidated Appropriations Act, 2016 [Public Law 114-113], provisions related to extension of the research and development tax credit, and Controlled Foreign Corporations look through rule.
Client expense: $1,070,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Defense Security Cooperation Agency (DSCA), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Labor, Dept of (DOL), Natl Economic Council (NEC), Office of Science & Technology Policy (OSTP), Patent & Trademark Office (PTO), SENATE, State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2015 · fourth_quarter · Taxation/Internal Revenue Code
Monitor matters related to legislation affecting the tax treatment of carried interest, publicly traded partnerships; H.R. 297, S. 174, H.R. 2029 / P.L. 114-113; and comprehensive tax reform legislative activities.
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2015 · fourth_quarter · Taxation/Internal Revenue Code
Earned Income Tax Credit (EITC) and Child Tax Credit (CTC) improvements in tax extender Protect immigrants re: EITC/CTC in tax extender S 2075, S 2045, HR 2050- Repeal of the Affordable Care Act's excise tax on high cost health care plans HR 173, HR 1105, S 3533, and related bills- Estate Tax/Death Tax Repeal Act Limit on individual itemized tax deductions and selected exclusions Tax rates on unearned income (e.g. capital gains and dividends) Financial Transaction Tax HR 636, HR 644- Tax extenders, including Active Financing Exception; CFC Look-Through Rule; Research and Experimentation Tax Credit; Bonus Depreciation; Section 179 Expensing Refundable low-income ARRA tax credits Federal income tax exclusion for interest on state and local government public purpose bonds HR 990- Federal income tax exclusion for employer sponsored mass transit commuter benefit (e.g. Commuter Parity Act of 2015) Federal income tax deduction for state and local taxes Corporate taxes, including rates, loopholes, territorial, reform Repatriation tax rate and rules S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act and Schumer-Portman International Tax Plan) S 198, HR 415- Tax on inverted firms (e.g. Stop Corporate Inversions Act) S 149, HR 160- Medical Device Tax Federal tax reform impact on state and local government revenue S 698, HR 2775, Omnibus- State and local tax on internet/remote sales, Marketplace Fairness Act HR 235, S 431, Customs Conference Report, Omnibus- State and local tax on internet access; PITFA HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act S 386, HR 2315- Mobile Workforce State Income Tax Simplification Act State and local tax on wireless phone services S 2251- Seniors and Veterans Emergency Benefits Act HR 363, HR 644- Tax extenders
Client expense: $640,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), SENATE, Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2015 · third_quarter · Taxation/Internal Revenue Code
Protecting Earned Income Tax Credit and Child Tax Credit HR 2050, HR 879, S 2045, S 2075- Federal 40% tax on high cost employer sponsored health benefits HR 3553- Earned Income Tax Credit Equity for Puerto Rico Act HR 355- Child Tax Credit Equity for Puerto Rico Act S 2045, HR 2050- Repeal of the ACA's excise tax on high cost health plans Corporate Tax Reform Issues, including rates, loopholes, territorial HR 636, HR 644- Tax Extenders HR 173, HR 1105, S 3533 and related bills- Death Tax Repeal Act HR 415, S 198- Stop Corporate Tax Inversions Act S 698- Marketplace Fairness Act HR 1105- Estate Tax Limit on individual itemized tax deductions and selected exclusions Tax rates on unearned income (e.g. capital gains and dividends) Financial Transaction Tax Tax extenders, including Active Financing Exception; CFC Look-Through Rule; Research and Experimentation Tax Credit; Bonus Depreciation Refundable low-income ARRA tax credits Federal income tax exclusion for interest on state and local government public purpose bonds HR 990- Federal income tax exclusion for employer sponsored mass transit commuter benefit (e.g. Commuter Parity Act of 2015) Federal income tax deduction for state and local taxes Repatriation tax rate and rules S 174, HR 297- Tax on international firms (e.g. Stop Tax Haven Abuse Act and Schumer-Portman Internal Tax Plan S 149, HR 160- Medical Device Tax Federal tax reform impact on state and local government revenue S 698, HR 2775- State and local tax on internet and remote sales HR 235, S 431- State and local tax on internet access HR 1643, S 851- Digital Goods and Services Tax Fairness Act HR 2584- Business Activity Tax Simplification Act S 386, HR 2315- Mobile Workforce State Income Tax Simplification ACt State and local tax on wireless phone services
Client expense: $610,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Labor, Dept of (DOL), Natl Labor Relations Board (NLRB), SENATE, Treasury, Dept of, White House Office
Issues related to the Affordable Care Act and the Services Contract Act and how benefits are applied. Presidents FY 2016 Budget, including corporate tax proposals and reforms to international tax policy; H.R.297, Stop Tax Haven Abuse Act; H.R.235, Permanent Internet Tax Freedom Act; H.R.415, Stop Corporate Inversions Act of 2015; S.174, Stop Tax Haven Abuse Act; S.386, Mobile Workforce State Income Tax Simplification Act of 2015; S.431, Internet Tax Freedom Forever Act; S.537, COMPETE Act of 2015; S.698, Marketplace Fairness Act of 2015; H.R.880, American Research and Competitiveness Act of 2015; H.R.1430, Permanent CFC Look-Through Act of 2015; H.R.961, amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income; H. Con. Res. 27, Budget for the United States Government for fiscal year 2016; S. Con. Res. 11 Budget for the United States Government for fiscal year 2016; Amendments to S. Con. Res. 11 Budget for the United States Government for fiscal year 2016: Hatch amendment #1029, deficit neutral reserve fund for legislation preventing American jobs from being moved overseas, which may include a reduction in the corporate income tax rate; Thune-Brown amendment supporting the principle of Mobile Workforce legislation to prevent unexpected or double taxation of employees as they travel outside of their home state for temporary work assignments; Durbin amendment 817, tax increases for companies that ship jobs overseas, credits for patriot employers; Stabenow amendment 523, increase taxes, encourage insourcing of jobs currently overseas; Sanders amendment 323, raise taxes to increase spending on infrastructure; Senate Committee on Finance Working Groups on Business Tax Reform and International Tax Reform; Tax Parity for Health Plan Beneficiaries Act. Congressional proposals related to international taxation and innovation box proposals.
Client expense: $450,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Council of Economic Advisers (CEA), Defense, Dept of (DOD), Education, Dept of, Federal Communications Commission (FCC), Federal Trade Commission (FTC), HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Economic Council (NEC), Natl Institute of Standards & Technology (NIST), Office of Science & Technology Policy (OSTP), Patent & Trademark Office (PTO), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR), White House Office
2015 · third_quarter · Taxation/Internal Revenue Code
H.R. 915 (Voices for Veterans Act); H.R. 961 (To amend the Internal Revenue Code of 1986 to permanently extend the subpart F exemption for active financing income); H.R. 1295 (Trade Preferences Extension Act of 2015); H.R. 1430 (Permanent CFC Look-Through Act of 2015); H.R. 2229 (Municipal Bond Market Support Act of 2015); H.R. 2483 (Independent Contractor Tax Fairness and Simplification Act of 2015); S. 161 (Paying a Fair Share Act of 2015); S. 174 (Stop Tax Haven Abuse Act); S. 922 (Corporate Tax Dodging Prevention Act); S. 1186 (Move America Act of 2015); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation; U.S. and foreign Financial Transaction Tax Legislation Proposals; Tax issues related to standardization of credit default swaps and derivatives transactions; Extension of Active Financing Rules; Administration's Financial Crisis Responsibility Fee; Tax issues related to interest expense allocation; Tax treatment of capital gains and dividends; Tax classification of independent contractors; Taxation of cross-border equity swaps; Corporate tax reporting rules; Tax reporting requirements for foreign financial institutions on certain foreign accounts; Foreign Account Tax Compliance Act of 2010 (FATCA); Securities cost basis reporting regulations; International tax reform; United States individual and business taxation; Preservation of tax incentives for retirement plans; Tax Reform Act of 2014; Issues related to proposals to impose an asset tax on financial institutions; Issues related to proposals to limit the deductability or risk fee of FDIC assessments; Tax characteristics of nominal negative interest payments; Income tax withholding with respect to I.R.C. 305(c) deemed dividends; Tax Reform Legislation; Financial Transaction Tax (FTT). Issues related to extraterritorial application in the U.S. of foreign FTTs and FTT proposals; Issues related to taxation of negative interest payments; Issues related to the taxation of Total Loss Absorbency Capacity (TLAC) securities; Issues related to taxation of securities transactions, including market to market for derivatives; Draft legislation to prevent identity theft and tax refund fraud (Form 1099 accelerated filing dates); IRS notice 2015-47 (Listing Notice - Basket Option Contracts); IRS notice 2015-48 (Transaction of Interest - Basket Contracts).
Client expense: $1,610,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2015 · third_quarter · Commodities (big ticket)
H.R. 37 (Promoting Job Creation and Reducing Small Business Burdens Act); H.R. 1163 (Futures Investor Protection Act); H.R. 2289 (Commodity End-User Relief Act); S. 174 (Stop Tax Haven Abuse Act); Dodd-Frank Wall Street Reform and Consumer Protection Act Implementation (Regulatory rulemaking regarding swap dealer capital requirements and margin segregation); Regulation of over-the-counter (OTC) derivatives (standardization of derivatives - all aspects including exchange trading, clearing, and reporting requirements); Commodity Exchange Act (CEA) Reauthorization; Core Principles and Other Requirements for Swap Execution Facilities (SEF Final Rule); CFTC Cross-border Guidance and Exemptive Order (13-69); Banks in physical commodity markets; Make available to trade determination for Swap Execution Facilities (SEFs); Position limits; Jumpstart Our Business Startups (JOBS) Act implementation; IHS Global report on the Role of Banks in Physical Commodities; Concept Release on Risk Controls and System Safeguards for Automated Trading Environments; The Volcker Rule; Block trades; Insurance-linked securities; Transaction-Level Requirements in Certain Cross-Border Situations (CFTC letters Nos. 13-17 and 14-01); CFTC Regulation 1.35; Block trades on swap execution facilities (SEFs); Liquidity coverage ratio (LCR) as it relates to commodities; Commodities (general); CFTC no action relief for packaged trades; Security based swaps rules under Title VII; Dodd-Frank Title VII; Derivatives regulation (general); Federal Reserve commodities advance notice of proposed rulemaking (ANPR); CFTC Letter 14-140 on transaction-level requirements in certain cross-border situations; Inter-affiliate swap transactions.
Client expense: $1,610,000 · Firm income: Not reported
Government targets: Commerce, Dept of (DOC), Commodity Futures Trading Commission (CFTC), Executive Office of the President (EOP), Federal Deposit Insurance Corporation (FDIC), Federal Housing Finance Agency (FHFA), Federal Reserve System, Ginnie Mae, HOUSE OF REPRESENTATIVES, Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Labor, Dept of (DOL), Natl Credit Union Administration (NCUA), Natl Economic Council (NEC), Natl Security Council (NSC), Office of the Comptroller of the Currency (OCC), SENATE, Securities & Exchange Commission (SEC), State, Dept of (DOS), Treasury, Dept of, U.S. Trade Representative (USTR)
2015 · third_quarter · Financial Institutions/Investments/Securities
Department of the Treasury Financial Crimes Enforcement Network Notice of Proposed Rulemaking on Customer Due Diligence Requirements for Financial Institutions, RIN 1506-AB25, Docket Number FINCEN-2014-0001, 79 Fed. Reg. 45151 (August 4, 2014)-provisions that could require law firms that establish accounts at financial institutions on behalf of clients to disclose the identity and beneficial ownership information regarding those clients S. 174/H.R. 297, Stop Tax Haven Abuse Act-provisions subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act Draft legislation requiring states, certain businesses, and company formation agents to obtain and disclose beneficial ownership information regarding new companies and subjecting lawyers that act as formation agents to the anti-money laundering and suspicious activity reporting requirements of the Bank Secrecy Act
Client expense: $210,000 · Firm income: Not reported
Government targets: Centers For Medicare and Medicaid Services (CMS), Commerce, Dept of (DOC), Congressional Budget Office (CBO), Education, Dept of, HOUSE OF REPRESENTATIVES, Health & Human Services, Dept of (HHS), Homeland Security, Dept of (DHS), Housing & Urban Development, Dept of (HUD), Internal Revenue Service (IRS), Justice, Dept of (DOJ), Legal Services Corporation, Patent & Trademark Office (PTO), SENATE, Treasury, Dept of, U.S. Copyright Office, U.S. Trade Representative (USTR), Veterans Affairs, Dept of (VA), White House Office