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Legacy IRA Act This bill amends the Internal Revenue Code to expand the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes. The bill increases from $100,000 to $400,000 the annual limit on the aggregate amount of distributions for charitable purposes that may be excluded from the gross income of a taxpayer. The bill permits tax-free distributions from IRAs to a split-interest entity for four years after the enactment of this bill. A split-interest entity is exclusively funded by charitable distributions and includes: a charitable remainder annuity trust, a charitable remainder unitrust, or a charitable gift annuity. A charitable gift annuity must commence fixed payments of at least 5% no later than one year from the date of funding. A distribution to a split-interest entity may only be treated as a qualified charitable distribution if: (1) no person holds an income interest in the entity other than the individual for whose benefit the account is maintained, the spouse of such individual, or both; and (2) the income interest in the entity is nonassignable.
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Filing registrants (24)
Read twice and referred to the Committee on Finance.
Introduced in Senate
Bills with similar content found using semantic analysis.
Sources: Congress.gov
2022 · fourth_quarter · Taxation/Internal Revenue Code
S. 618/H.R. 1704 - Universal Giving Pandemic Response and Recovery Act - raises the $300/$600 cap on the temporary universal charitable deduction to roughly $4,000 for individuals/$8,000 for couples, and extends the availability of the deduction to the 2022 tax year and eliminates the current exclusion of gifts to donor-advised funds. H.R. 1081 - Charitable Giving Tax Deduction Act - expands the charitable deduction to non-itemizing taxpayers. S. 243 - Legacy IRA Act - expands the current IRA charitable rollover provision currently in law. H.R. 2954 - Securing a Strong Retirement Act - provisions expanding current IRA charitable rollover to apply to one-time gift to split-interest entities. H.R. 2617 - Consolidated Appropriations Act - urged Congress to include restoration and expansion of charitable deduction for non-itemizers in year-end bill. Also supported provision expanding current IRA charitable rollover to apply to one-time gift to split-interest entities.
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S.243- Legacy IRA Act - support passage H.R.1219/S.331- ABLE Age Adjustment Act- increases age threshold for tax-favored ABLE accounts- support passage S.1670/H.R.3321- Credit for Caring Act, support passage S.2481 - Disabled Access Credit Expansion Act of 2021, support passage H.R. 2954- Securing a Strong Retirement Act of 2021 (SECURE Act), support passage Enhancing American Retirement Now Act (bill number forthcoming, Senate Finance retirement package), support passage H.R. 5376- Inflation Reduction Act- support tax provisions and extensions included.
Client expense: $42,877 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · first_quarter · Government Issues
The Employee Retention Tax Credit Reinstatement Act (H.R. 6161) Legacy IRA Act (S. 243) Securing a Strong Retirement Act of 2021, provisions related to the Legacy IRA Act (H.R. 2954) Universal Giving Pandemic Response and Recovery Act (S. 618/HR 1704) WORK NOW Act (S. 740) To amend the Internal Revenue Code of 1986 to allow a one-time election for a qualified charitable distribution to a split-interest entity and to inflation adjust the limits for qualified charitable distributions (H.R. 2909)
Client expense: $110,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of, White House Office
H.R. 1081, Charitable Giving Tax Deduction Act, In support of increasing the charitable giving deduction; S. 243/H.R. 2909, Legacy IRA Act, In support of incentivizing more charitable giving by seniors; S. 3625/H.R. 6161, Employee Retention Tax Credit Reinstatement Act, In support of maintaining and strengthening the Employee Retention Tax Credit; S. 3993/H.R 2953, SAFER Act/Savings Access for Escaping and Rebuilding Act of 2021, In support of strengthening the economic security of domestic and sexual assault survivors and their families; In support of a permanent expansion of and fully refundable child tax credit; In support of a permanent earned income tax credit.
Client expense: $44,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
S.243- Legacy IRA Act - support passage H.R.1219/S.331- ABLE Age Adjustment Act- increases age threshold for tax-favored ABLE accounts- support passage S.1670/H.R.3321- Credit for Caring Act, support passage S.2481 - Disabled Access Credit Expansion Act of 2021, support passage H.R. 2954- Securing a Strong Retirement Act of 2021 (SECURE Act), support passage Enhancing American Retirement Now Act (bill number forthcoming, Senate Finance retirement package), support passage H.R. 5376- Inflation Reduction Act- support tax provisions and extensions included.
Client expense: $58,169 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
| Republican |
| TX |
| Lisa Murkowski | Republican | AK |
| Steve Daines | Republican | MT |
2022 · fourth_quarter · Taxation/Internal Revenue Code
Issues related to taxes on tobacco products; Issues related to the Affordable Care Act; Issues related to COVID-19 Response; Issues related to infrastructure; Issues relating to the Presidents FY24 budget; H.R.1704 To amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; S.618 Universal Giving Pandemic Response and Recovery Act; H.R.1790 To amend the Patient Protection and Affordable Care Act to require the Secretary of Health and Human Services to set forth a method of determining maximum out-of-pocket limits and annual updates to premium tax credit eligibility; S.975 A bill to amend the Internal Revenue Code of 1986 to extend and modify the credit for alternative fuel vehicle refueling property; S.985 A bill to amend the Internal Revenue Code of 1986 to provide direct payments of the renewable electricity production credit, the energy credit, and the carbon oxide sequestration credit; S.1298 Clean Energy for America Act; S.243 Legacy IRA Act; H.R.2786 Tobacco Tax Equity Act of 2021; S.1314 Tobacco Tax Equity Act of 2021; S.1424 Chronic Disease Management Act of 2021; H.R.2307 To create a Carbon Dividend Trust Fund for the American people in order to encourage market-driven innovation of clean energy technologies and market efficiencies which will reduce harmful pollution and leave a healthier, more stable, and more prosperous nation for future generations; S.2085 Save Our Future Act; H.R.848 GREEN Act of 2021; S.1981 ACE Act; S.Con.Res.14 A concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2022 and setting forth the appropriate budgetary levels for fiscal years 2023 through 2031; H.R. 5089 Next Generation Fuels Act; H.R.2909 To amend the Internal Revenue Code of 1986 to allow a one-time election for a qualified charitable distribution to a split-interest entity and to inflation adjust the limits for qualified charitable distributions; H.R. 2617 Consolidated Appropriations Act, 2023; S. Amdt.6552 to H.R.2617
Client expense: $40,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2022 · fourth_quarter · Small Business
Issues related to nonprofit loans, grants and loan forgiveness; Issues related to FY23 appropriations bills; Issues relating to the Presidents FY24 budget; H.R. 8295 Labor HHS Appropriations bill; H.R. 8294 Interior, Environment and Related Agencies Appropriations bill; Issues related to the Paycheck Protection Program; H.R.1704 To amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; S.618 Universal Giving Pandemic Response and Recovery Act; S.243 Legacy IRA Act; H.R. 2617 Consolidated Appropriations Act, 2023; S. Amdt.6552 to H.R.2617
Client expense: $40,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2022 · fourth_quarter · Taxation/Internal Revenue Code
S.243- Legacy IRA Act - support passage H.R.1219/S.331- ABLE Age Adjustment Act- increases age threshold for tax-favored ABLE accounts- support passage S.1670/H.R.3321- Credit for Caring Act, support passage S.2481 - Disabled Access Credit Expansion Act of 2021, support passage H.R. 2954- Securing a Strong Retirement Act of 2021 (SECURE Act), support passage Enhancing American Retirement Now Act (bill number forthcoming, Senate Finance retirement package), support passage H.R. 5376- Inflation Reduction Act- support tax provisions and extensions included.
Client expense: $45,264 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Charitable Giving Deduction - S. 618 and H.R. 1704 Legacy IRA Act - S. 243 and H.R. 2954
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Support for expanding and extending charitable giving in the following bills: Employee Retention Tax Credit (ERTC) Reinstatement legislation - HR 6161/S. 3625 Universal Giving Pandemic Response and Recovery Act - HR 1704/S.618 Legacy IRA Act - HR. 2954/S.243 Performing Artist Tax Parity Act of 2021 (PATPA Act) - HR 4750/S.2872
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
S.243 Legacy IRA Act, to incentivize more seniors to give to charities S.618/H.R.1704 Universal Giving Pandemic Response and Recovery Act, to further incentivize all taxpayers to give to charity-regardless of their income or whether they itemize-helping to spur more even more giving as communities fight and recover from COVID-19 and its economic effects SECURE Act (S. 306/H.R. 2954)
Client expense: $490,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Tax incentives for charitable donations, including gifts of property. Artist-Museum Partnership Act, to allow artists a fair market-value deduction for charitable contributions of literary, musical, artistic or scholarly works created by the donor. Maintaining prohibitions on political endorsements by charitable nonprofits. Supporting a universal charitable deduction (S. 618/H.R. 1704; H.R. 1081) to allow taxpayers claiming the standard deduction to also deduct charitable contributions. Supporting and strengthening the historic tax credit. Supporting the Legacy IRA Act (S. 243; and provisions in H.R. 2954, Securing a Strong Retirement Act of 2022), which would broaden the IRA Charitable Rollover, allowing individuals to make tax-free distributions to planned giving accounts as well as to charities. Provisions to increase charitable giving and include nonprofits, including museums, in SBA and other loan and loan forgiveness programs. Extend the Employee Retention Tax Credit (ERTC) beyond 2021, modify nonprofit eligibility beyond the current gross receipts test, and oppose 4th quarter 2021 elimination in H.R. 3684. Support H.R. 6161/S. 3625 to provide for a reinstatement of the Employee Retention Tax Credit through 2021.
Client expense: $23,275 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Small Business Administration (SBA)
2022 · fourth_quarter · Taxation/Internal Revenue Code
Charitable deduction and treatment of nonprofit groups. The Legacy IRA Act (S. 243), Nonprofit Sector Strength and Partnership Act of 2022 (H.R. 7587)
Client expense: $60,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
S. 4808, Enhancing American Retirement (EARN) Act S. 243, Legacy IRA Act
Client expense: $100,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
- S. 243 Legacy IRA Act: an expansion of the IRA Charitable Rollover to allow seniors starting at age 65 to make tax-free IRA rollovers to charities through life-income plans (charitable gift annuity or charitable remainder trust). - H.R.2954: Securing a Strong Retirement Act of 2021, including Legacy IRA Act - S. 2872 / H.R. 4750: Performing Artist Tax Parity Act and Qualified Performing Artist Tax Deduction - H.R.6161 / S. 3625: To amend the Internal Revenue Code of 1986 to temporarily reinstate the employee retention credit for employers subject to closure due to COVID-19 - Infrastructure Legislation: Reinstatement and improvement of 4th Quarter Employee Retention Tax Credit - S.618 / HR.1704: Universal Giving Pandemic Response Act - Charitable giving: To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving - Artist-Museum Partnership Act: provide a deduction equal to the fair market value for charitable contributions of created by the donor.
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
- Charitable contribution tax issues: UBIT issues; S. 618 - Universal Giving Pandemic Response Act; loan programs for nonprofits - Legacy IRA Act (S. 243) - H.R. 5376, Inflation Reduction Act (fiscal year 2022 budget reconciliation bill) - H.R. 2617, Consolidated Appropriations Act, 2023
Client expense: Not reported · Firm income: $60,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Support for strengthening and expanding the charitable tax deduction H.R. 1081. Temporary expansion of universal charitable giving incentive S. 618, H.R. 1704. Protecting the charitable deduction from other changes made in the tax code. Protection and expansion of the IRA charitable rollover provision. S. 243 H.R. 2954. Employee Retention Tax Credit Reinstatement Act H.R. 6161. S. 3625 Support for maintaining the Johnson Amendment protecting nonprofits from partisan politics Support for increasing the charitable mileage rate. H.R. 7432 H.R. 8265 S.4691
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2022 · fourth_quarter · Taxation/Internal Revenue Code
Legacy Ira Act S. 243 charitable giving regarding a one-time qualified donation from an IRA
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
S. 618, the Universal Giving Pandemic Response Act; H.R. 1704, the Universal Giving Pandemic Response Act; S. 243, the Legacy IRA Act; H.R. 2954, the Securing a Strong Retirement Act of 2021, as it relates to the expansion of the IRA Charitable Rollover; H.R. 2617, the Consolidated Appropriations Act of 2023, as it relates to expansion of the IRA Charitable Rollover
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
Legacy IRA Act (S. 243/H.R. 2909) would expand the IRA Charitable Rollover by incentivizing seniors to make charitable donations. This provision was included in the FY23 Consolidated Omnibus Appropriations Act of 2022. Universal Giving Pandemic Response and Recovery Act (S. 618/H.R. 1704) to restore and expand the universal charitable deduction to one-third of the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers
Client expense: Not reported · Firm income: $5,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
S. 243 and H.R. 2909, Legacy IRA Act, to incentivize charitable giving by seniors contained in the FY23 Consolidated Omnibus Appropriations Act Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704) - Would increase the current cap on the temporary universal charitable deduction from $300/$600 to one-third the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers; extend the availability of the deduction through 2022; and eliminate the current exclusion of gifts to donor-advised funds. H.R. 7587, strengthen the partnership between the nonprofit organizations and the Federal Government
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
S. 243 and H.R. 2909, Legacy IRA Act, to incentivize charitable giving by seniors Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704) - Would increase the current cap on the temporary universal charitable deduction from $300/$600 to one-third the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers; extend the availability of the deduction through 2022; and eliminate the current exclusion of gifts to donor-advised funds. Charitable Giving Tax Deduction Act (H.R. 1081) - Would create a permanent above-the-line charitable deduction for all taxpayers and would repeal the temporary $300 universal charitable deduction included in the 2020 COVID relief bills.
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · fourth_quarter · Taxation/Internal Revenue Code
-Universal Giving Pandemic Response & Recovery Art (HR 1704, S 618) and related legislation (S 1081) -Legacy IRA Act (S 243) (HR 2909) -Artist-Museum Partnership Act
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S.243- Legacy IRA Act - support passage H.R.1219/S.331- ABLE Age Adjustment Act- increases age threshold for tax-favored ABLE accounts- support passage S.1670/H.R.3321- Credit for Caring Act, support passage S.2481 - Disabled Access Credit Expansion Act of 2021, support passage H.R. 2954- Securing a Strong Retirement Act of 2021 (SECURE Act), support passage Enhancing American Retirement Now Act (bill number forthcoming, Senate Finance retirement package), support passage H.R. 5376- Inflation Reduction Act- support tax provisions and extensions included.
Client expense: $11,123 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S.243- Legacy IRA Act - support passage H.R.1219/S.331- ABLE Age Adjustment Act- increases age threshold for tax-favored ABLE accounts- support passage S.1670/H.R.3321- Credit for Caring Act, support passage S.2481 - Disabled Access Credit Expansion Act of 2021, support passage H.R. 2954- Securing a Strong Retirement Act of 2021 (SECURE Act), support passage Enhancing American Retirement Now Act (bill number forthcoming, Senate Finance retirement package), support passage H.R. 5376- Inflation Reduction Act- support tax provisions and extensions included.
Client expense: $11,123 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
-Universal Giving Pandemic Response & Recovery Art (HR 1704, S 618) and related legislation (S 1081) -Legacy IRA Act (S 243) (HR 2909) -Artist-Museum Partnership Act
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Charitable deduction and treatment of nonprofit groups. The Legacy IRA Act (S. 243), Nonprofit Sector Strength and Partnership Act of 2022 (H.R. 7587)
Client expense: $60,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
H.R. 1081, Charitable Giving Tax Deduction Act, In support of increasing the charitable giving deduction; S. 243/H.R. 2909, Legacy IRA Act, In support of incentivizing more charitable giving by seniors; S. 3625/H.R. 6161, Employee Retention Tax Credit Reinstatement Act, In support of maintaining and strengthening the Employee Retention Tax Credit; S. 3993/H.R 2953, SAFER Act/Savings Access for Escaping and Rebuilding Act of 2021, In support of strengthening the economic security of domestic and sexual assault survivors and their families; In support of a permanent expansion of and fully refundable child tax credit; In support of a permanent earned income tax credit.
Client expense: $87,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Support for strengthening and expanding the charitable tax deduction H.R. 1081. Temporary expansion of universal charitable giving incentive S. 618, H.R. 1704. Protecting the charitable deduction from other changes made in the tax code. Protection and expansion of the IRA charitable rollover provision. S. 243 H.R. 2954. Employee Retention Tax Credit Reinstatement Act H.R. 6161. S. 3625 Support for maintaining the Johnson Amendment protecting nonprofits from partisan politics Support for allowing the IRS to make adjustments to volunteer mileage. H.R. 7432 H.R. 8265
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2022 · third_quarter · Taxation/Internal Revenue Code
Charitable Giving Deduction - S. 618 and H.R. 1704 Legacy IRA Act - S. 243 and H.R. 2954
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S.243- Legacy IRA Act - support passage H.R.1219/S.331- ABLE Age Adjustment Act- increases age threshold for tax-favored ABLE accounts- support passage S.1670/H.R.3321- Credit for Caring Act, support passage S.2481 - Disabled Access Credit Expansion Act of 2021, support passage H.R. 2954- Securing a Strong Retirement Act of 2021 (SECURE Act), support passage Enhancing American Retirement Now Act (bill number forthcoming, Senate Finance retirement package), support passage H.R. 5376- Inflation Reduction Act- support tax provisions and extensions included.
Client expense: $42,877 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S. 618/H.R. 1704 - Universal Giving Pandemic Response and Recovery Act - raises the $300/$600 cap on the temporary universal charitable deduction to roughly $4,000 for individuals/$8,000 for couples, and extends the availability of the deduction to the 2022 tax year and eliminates the current exclusion of gifts to donor-advised funds. H.R. 1081 - Charitable Giving Tax Deduction Act - expands the charitable deduction to non-itemizing taxpayers. S. 243 - Legacy IRA Act - expands the current IRA charitable rollover provision currently in law. H.R. 2954 - Securing a Strong Retirement Act - provisions expanding current IRA charitable rollover to apply to one-time gift to split-interest entities.
Client expense: $15,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Support for expanding and extending charitable giving in the following bills: Employee Retention Tax Credit (ERTC) Reinstatement legislation - HR 6161/S. 3625 Universal Giving Pandemic Response and Recovery Act - HR 1704/S.618 Legacy IRA Act - HR. 2954/S.243 Performing Artist Tax Parity Act of 2021 (PATPA Act) - HR 4750/S.2872 Support for provisions to increase the Qualified Performing Artist (QPA) deduction to allow an above-the-line tax deduction for qualified performing artists and support for provisions to enable artists to receive a fair-market tax deduction for contributions to collecting institutions as supported in the Promoting Local Artists and Creative Economy Workforce Act (PLACE Act) HR 6569/S.3560
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
- S. 243 Legacy IRA Act: an expansion of the IRA Charitable Rollover to allow seniors starting at age 65 to make tax-free IRA rollovers to charities through life-income plans (charitable gift annuity or charitable remainder trust). - H.R.2954: Securing a Strong Retirement Act of 2021, including Legacy IRA Act - S. 2872 / H.R. 4750: Performing Artist Tax Parity Act and Qualified Performing Artist Tax Deduction - H.R.6161 / S. 3625: To amend the Internal Revenue Code of 1986 to temporarily reinstate the employee retention credit for employers subject to closure due to COVID-19 - Infrastructure Legislation: Reinstatement and improvement of 4th Quarter Employee Retention Tax Credit - S.618 / HR.1704: Universal Giving Pandemic Response Act - Charitable giving: To extend the charitable deduction to all taxpayers regardless of whether a taxpayer itemizes deductions in order to encourage and increase charitable giving - Artist-Museum Partnership Act: provide a deduction equal to the fair market value for charitable contributions of created by the donor.
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Issues related to S. 243, the Legacy IRA Act; Issues related to S. 618, Universal Giving Pandemic Response and Recovery Act; Issues related to H.R. 1704, Universal Giving Pandemic Response and Recovery Act; Issues related to H.R. 2954, Securing a Strong Retirement Act of 2021, as it related to the expansion of the IRA Charitable Rollover
Client expense: Not reported · Firm income: $10,000
Government targets: SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
- Charitable contribution tax issues: UBIT issues; S. 618 - Universal Giving Pandemic Response Act; loan programs for nonprofits - Legacy IRA Act (S. 243) - H.R. 5376, Build Back Better Act (fiscal year 2022 budget reconciliation bill)
Client expense: Not reported · Firm income: $60,000
Government targets: Executive Office of the President (EOP), HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2022 · third_quarter · Small Business
Issues related to nonprofit loans, grants and loan forgiveness; Issues related to FY23 appropriations bills; Issues relating to the Presidents FY24 budget; H.R. 8295 Labor HHS Appropriations bill; H.R. 8294 Interior, Environment and Related Agencies Appropriations bill; Issues related to the Paycheck Protection Program; H.R.1704 To amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; S.618 Universal Giving Pandemic Response and Recovery Act; S.243 Legacy IRA Act;
Client expense: $40,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2022 · third_quarter · Taxation/Internal Revenue Code
Issues related to taxes on tobacco products; Issues related to the Affordable Care Act; Issues related to COVID-19 Response; Issues related to infrastructure; Issues relating to the Presidents FY24 budget; H.R.1704 To amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; S.618 Universal Giving Pandemic Response and Recovery Act; H.R.1790 To amend the Patient Protection and Affordable Care Act to require the Secretary of Health and Human Services to set forth a method of determining maximum out-of-pocket limits and annual updates to premium tax credit eligibility; S.975 A bill to amend the Internal Revenue Code of 1986 to extend and modify the credit for alternative fuel vehicle refueling property; S.985 A bill to amend the Internal Revenue Code of 1986 to provide direct payments of the renewable electricity production credit, the energy credit, and the carbon oxide sequestration credit; S.1298 Clean Energy for America Act; S.243 Legacy IRA Act; H.R.2786 Tobacco Tax Equity Act of 2021; S.1314 Tobacco Tax Equity Act of 2021; S.1424 Chronic Disease Management Act of 2021; H.R.2307 To create a Carbon Dividend Trust Fund for the American people in order to encourage market-driven innovation of clean energy technologies and market efficiencies which will reduce harmful pollution and leave a healthier, more stable, and more prosperous nation for future generations; S.2085 Save Our Future Act; H.R.848 GREEN Act of 2021; H.R.5376 Build Back Better Act/Inflation Reduction Act; S.1981 ACE Act; S.Con.Res.14 A concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2022 and setting forth the appropriate budgetary levels for fiscal years 2023 through 2031; H.R. 5089 Next Generation Fuels Act; H.R.2909 To amend the Internal Revenue Code of 1986 to allow a one-time election for a qualified charitable distribution to a split-interest entity and to inflation adjust the limits for qualified charitable distributions; H.R. 6833 Continuing Appropriations and Ukraine Supplemental Appropriations Act, 2023;
Client expense: $40,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2022 · third_quarter · Taxation/Internal Revenue Code
S.243 Legacy IRA Act, to incentivize more seniors to give to charities S.618/H.R.1704 Universal Giving Pandemic Response and Recovery Act, to further incentivize all taxpayers to give to charity-regardless of their income or whether they itemize-helping to spur more even more giving as communities fight and recover from COVID-19 and its economic effects SECURE 2.0 (S. 306/H.R. 2954)
Client expense: $690,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
Tax incentives for charitable donations, including gifts of property. Artist-Museum Partnership Act, to allow artists a fair market-value deduction for charitable contributions of literary, musical, artistic or scholarly works created by the donor. Maintaining prohibitions on political endorsements by charitable nonprofits. Supporting a universal charitable deduction (S. 618/H.R. 1704; H.R. 1081) to allow taxpayers claiming the standard deduction to also deduct charitable contributions. Supporting and strengthening the historic tax credit. Supporting the Legacy IRA Act (S. 243; and provisions in H.R. 2954, Securing a Strong Retirement Act of 2022), which would broaden the IRA Charitable Rollover, allowing individuals to make tax-free distributions to planned giving accounts as well as to charities. Provisions to increase charitable giving and include nonprofits, including museums, in SBA and other loan and loan forgiveness programs. Extend the Employee Retention Tax Credit (ERTC) beyond 2021, modify nonprofit eligibility beyond the current gross receipts test, and oppose 4th quarter 2021 elimination in H.R. 3684. Support H.R. 6161/S. 3625 to provide for a reinstatement of the Employee Retention Tax Credit through 2021.
Client expense: $17,686 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, Internal Revenue Service (IRS), SENATE, Small Business Administration (SBA)
2022 · third_quarter · Taxation/Internal Revenue Code
S. 618, the Universal Giving Pandemic Response Act; H.R. 1704, the Universal Giving Pandemic Response Act; S. 243, the Legacy IRA Act; H.R. 2954, the Securing a Strong Retirement Act of 2021, as it relates to the expansion of the IRA Charitable Rollover
Client expense: $20,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S. 243 and H.R. 2909, Legacy IRA Act, to incentivize charitable giving by seniors Enhancing American Retirement Now Act, referred to as the EARN Act, passed by Senate Finance Committee and contained modified version of the Legacy IRA Act Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704) - Would increase the current cap on the temporary universal charitable deduction from $300/$600 to one-third the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers; extend the availability of the deduction through 2022; and eliminate the current exclusion of gifts to donor-advised funds. H.R. 7587, strengthen the partnership between the nonprofit organizations and the Federal Government
Client expense: Not reported · Firm income: $20,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S. 243 and H.R. 2909, Legacy IRA Act, to incentivize charitable giving by seniors Enhancing American Retirement Now Act, referred to as the EARN Act, passed by Senate Finance Committee and contained modified version of the Legacy IRA Act Universal Giving Pandemic Response and Recovery Act (S. 618, H.R. 1704) - Would increase the current cap on the temporary universal charitable deduction from $300/$600 to one-third the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers; extend the availability of the deduction through 2022; and eliminate the current exclusion of gifts to donor-advised funds. Charitable Giving Tax Deduction Act (H.R. 1081) - Would create a permanent above-the-line charitable deduction for all taxpayers and would repeal the temporary $300 universal charitable deduction included in the 2020 COVID relief bills.
Client expense: Not reported · Firm income: $10,000
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · third_quarter · Taxation/Internal Revenue Code
S. 243, IRA Legacy Act. This bill amends the Internal Revenue Code to expand the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes. The bill increases from $100,000 to $400,000 the annual limit on the aggregate amount of distributions for charitable purposes that may be excluded from the gross income of a taxpayer. The bill permits tax-free distributions from IRAs to a split-interest entity for four years after the enactment of this bill. A split-interest entity is exclusively funded by charitable distributions and includes: a charitable remainder annuity trust, a charitable remainder unitrust, or a charitable gift annuity. A charitable gift annuity must commence fixed payments of at least 5% no later than one year from the date of funding. H.R. 2954, Securing a Strong Retirement Act of 2021 (SECURE Act 2.0), which would expand coverage and increase retirement savings and simplify and clarify retirement rules. The bill contains a version of the Legacy IRA Act (above). S. 618 and H.R. 1704, The Universal Giving Pandemic Response and Recovery Act, which would expand the current (but temporary) universal charitable deduction, was introduced in Congress in March 2021 by a bipartisan, bicameral group of lawmakers. The bill would increase the cap on the temporary universal charitable deduction (UCD) from $300/$600 to one-third of the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers. It would also extend the availability of the deduction through 2022, and it would allow gifts to donor-advised funds (which the current version prohibits).
Client expense: Not reported · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
S. 618/H.R. 1704 - Universal Giving Pandemic Response and Recovery Act - raises the $300/$600 cap on the temporary universal charitable deduction to roughly $4,000 for individuals/$8,000 for couples, and extends the availability of the deduction to the 2022 tax year and eliminates the current exclusion of gifts to donor-advised funds. H.R. 1081 - Charitable Giving Tax Deduction Act - expands the charitable deduction to non-itemizing taxpayers. S. 243 - Legacy IRA Act - expands the current IRA charitable rollover provision currently in law. H.R. 2954 - Securing a Strong Retirement Act - provisions expanding current IRA charitable rollover to apply to one-time gift to split-interest entities.
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
S. 243, IRA Legacy Act. This bill amends the Internal Revenue Code to expand the tax exclusion for distributions from individual retirement accounts (IRAs) for charitable purposes. The bill increases from $100,000 to $400,000 the annual limit on the aggregate amount of distributions for charitable purposes that may be excluded from the gross income of a taxpayer. The bill permits tax-free distributions from IRAs to a split-interest entity for four years after the enactment of this bill. A split-interest entity is exclusively funded by charitable distributions and includes: a charitable remainder annuity trust, a charitable remainder unitrust, or a charitable gift annuity. A charitable gift annuity must commence fixed payments of at least 5% no later than one year from the date of funding. H.R. 2954, Securing a Strong Retirement Act of 2021 (SECURE Act 2.0), which would expand coverage and increase retirement savings and simplify and clarify retirement rules. The bill contains a version of the Legacy IRA Act (above). S. 618 and H.R. 1704, The Universal Giving Pandemic Response and Recovery Act, which would expand the current (but temporary) universal charitable deduction, was introduced in Congress in March 2021 by a bipartisan, bicameral group of lawmakers. The bill would increase the cap on the temporary universal charitable deduction (UCD) from $300/$600 to one-third of the standard deduction, roughly $4,000 for individuals and $8,000 for joint filers. It would also extend the availability of the deduction through 2022, and it would allow gifts to donor-advised funds (which the current version prohibits).
Client expense: $10,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
S.243 Legacy IRA Act, to incentivize more seniors to give to charities S.618/H.R.1704 Universal Giving Pandemic Response and Recovery Act, to further incentivize all taxpayers to give to charity-regardless of their income or whether they itemize-helping to spur more even more giving as communities fight and recover from COVID-19 and its economic effects SECURE 2.0 (S. 306/H.R. 2954)
Client expense: $1,310,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE
2022 · second_quarter · Taxation/Internal Revenue Code
Charitable deduction and treatment of nonprofit groups. The Legacy IRA Act (S. 243), Nonprofit Sector Strength and Partnership Act of 2022 (H.R. 7587)
Client expense: $60,000 · Firm income: Not reported
Government targets: Federal Reserve System, HOUSE OF REPRESENTATIVES, SENATE, Treasury, Dept of
2022 · second_quarter · Taxation/Internal Revenue Code
Issues related to taxes on tobacco products; Issues related to the Affordable Care Act; Issues related to COVID-19 Response; Issues related to infrastructure; Issues relating to the Presidents FY23 budget; H.R.1704 To amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; S.618 Universal Giving Pandemic Response and Recovery Act; H.R.1790 To amend the Patient Protection and Affordable Care Act to require the Secretary of Health and Human Services to set forth a method of determining maximum out-of-pocket limits and annual updates to premium tax credit eligibility; S.975 A bill to amend the Internal Revenue Code of 1986 to extend and modify the credit for alternative fuel vehicle refueling property; S.985 A bill to amend the Internal Revenue Code of 1986 to provide direct payments of the renewable electricity production credit, the energy credit, and the carbon oxide sequestration credit; S.1298 Clean Energy for America Act; S.243 Legacy IRA Act; H.R.2786 Tobacco Tax Equity Act of 2021; S.1314 Tobacco Tax Equity Act of 2021; S.1424 Chronic Disease Management Act of 2021; H.R.2307 To create a Carbon Dividend Trust Fund for the American people in order to encourage market-driven innovation of clean energy technologies and market efficiencies which will reduce harmful pollution and leave a healthier, more stable, and more prosperous nation for future generations; S.2085 Save Our Future Act; H.R.848 GREEN Act of 2021; H.R.5376 Build Back Better Act; S.1981 ACE Act; S.Con.Res.14 A concurrent resolution setting forth the congressional budget for the United States Government for fiscal year 2022 and setting forth the appropriate budgetary levels for fiscal years 2023 through 2031; H.R. 5089 Next Generation Fuels Act; H.R.2909 To amend the Internal Revenue Code of 1986 to allow a one-time election for a qualified charitable distribution to a split-interest entity and to inflation adjust the limits for qualified charitable distributions.
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office
2022 · second_quarter · Small Business
Issues related to nonprofit loans, grants and loan forgiveness; Issues related to FY23 appropriations bills; Issues relating to the Presidents FY23 budget; House Labor HHS Appropriations bill; House Interior, Environment and Related Agencies Appropriations bill; Issues related to the Paycheck Protection Program; H.R.1704 To amend the Internal Revenue Code of 1986 to modify and extend the deduction for charitable contributions for individuals not itemizing deductions; S.618 Universal Giving Pandemic Response and Recovery Act; S.243 Legacy IRA Act;
Client expense: $70,000 · Firm income: Not reported
Government targets: HOUSE OF REPRESENTATIVES, SENATE, White House Office