AICPA recommends QBI improvements
The AICPA recommended in a letter to Senate tax-writing leaders eight ways to improve the deduction for qualified business income under Sec. 199A.
AICPA Advocacy
Interruption of LIFO inventories due to COVID-19 and Sec. 473 relief
Global supply chain problems caused by the COVID-19 pandemic have made it difficult for US companies to replace inventories, potentially subjecting them to additional taxable income. The AICPA has requested relief under Sec. 473.
Appointments help position Association for long-term success
The Association appoints Jeannette Koger, Dan Noll, and Tricia Hitmar to key roles.
Professional services tax proposals discussed in multiple states
Proposed legislation in several places sought to tax accounting services but was opposed by the AICPA and others.
CPAs and the historic Paycheck Protection Program
It’s a good time to reflect on the CPA profession’s role in making this historic business relief program a success and to consider what comes next, especially in four key areas.
Zaniewski joins AICPA as vice president–State Regulatory & Legislative Affairs
Marta Zaniewski joined the AICPA as vice president—State Regulatory & Legislative Affairs.
A closer look at paid tax preparer regulation
An AICPA senior manager explains why the AICPA recently offered recommendations on six key areas of regulation of paid tax return preparers.
Taxpayers deserve pandemic penalty relief, AICPA says
In a letter to the IRS and Treasury, the AICPA recommended, in light of the ongoing COVID-19 pandemic, that the IRS implement fair, reasonable and practical penalty relief measures, including targeted relief from both the underpayment-of-estimated-tax penalty and the late-payment penalty for the 2020 tax year.
6 key areas of paid tax preparer regulation highlighted in AICPA letter to Congress
The Biden administration says the IRS should be given the authority to regulate paid tax return preparers who are currently unregulated, and the AICPA offers its recommendations in six key areas.
AICPA seeks exemption for CPA firms from expected beneficial ownership registry
The AICPA is requesting that all licensed or registered CPA firms be exempted from forthcoming rules that require beneficial ownership information to be reported by small businesses to the Financial Crimes Enforcement Network (FinCEN).
