President Signs Medicare Prescription Drug Legislation

The President on December 8, 2003, signed the Medicare Prescription Drug, Improvement, and Modernization Act of 2003. The tax provisions of the bill include the establishment of new Health Savings Accounts and an exclusion for federal subsidies of prescription drug plans. Although both the House and Senate have scheduled at least one day of sessions yet this year, it appears unlikely that any of the other pending pieces of tax legislation, including energy legislation, ETI repeal, the charitable giving bill, and extenders, will pass Congress before the end of the year. There is still a chance that a provision with respect to a change in the calculation of pension funding will be appended to the final appropriations bill.


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Wolters Kluwer Tax and Accounting

Wolters Kluwer Tax and Accounting is a leading provider of software solutions and local expertise that helps tax, accounting, and audit professionals research and navigate complex regulations, comply with legislation, manage their businesses and advise clients with speed, accuracy and efficiency. Wolters Kluwer Tax and Accounting is part of Wolters Kluwer N.V. (AEX: WKL), a global leader in information services and solutions for professionals in the health, tax and accounting, risk and compliance, finance and legal sectors. We help our customers make critical decisions every day by providing expert solutions that combine deep domain knowledge with specialized technology and services. Wolters Kluwer reported 2016 annual revenues of €4.3 billion. The company, headquartered in Alphen aan den Rijn, the Netherlands, serves customers in over 180 countries, maintains operations in over 40 countries and employs 19,000 people worldwide. Wolters Kluwer shares are listed on Euronext Amsterdam (WKL) and are included in the AEX and Euronext 100 indices. Wolters Kluwer has a sponsored Level 1 American Depositary Receipt program. The ADRs are traded on the over-the-counter market in the U.S. (WTKWY).

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