AICPA Advocacy

TOPICS

May 25, 2023

AICPA Council supports development of national pipeline strategy

At its spring meeting, the AICPA Council voiced support for the Pipeline Acceleration Plan and decided to move forward with development of a national strategy focused on boosting the accounting profession’s talent outlook.

May 24, 2023

AICPA backs bill to make it easier to file for tax extensions

The bill filed by Reps. Judy Chu and Mike Carey would streamline the extension-filing process for millions of Americans.

May 18, 2023

AICPA releases expanded plan for addressing CPA pipeline challenges

The plan seeks to address root causes of talent pipeline issues in a concerted effort to increase the number of students pursuing accounting degrees and CPA licensure.

May 16, 2023

AICPA joins coalition to increase awareness of new BOI requirement

Under the requirement, most companies created in or registered to do business in the United States must report their beneficial ownership information (BOI) to the Financial Crimes Enforcement Network.

May 12, 2023

AICPA supports extending mailbox rule to electronic filing and payments

The Electronic Communication Uniformity Act, recently introduced in the Senate, would apply the timely mailing/timely filing rule to electronic tax return filings and payments. The AICPA has written to the sponsors of the bill expressing support.

May 11, 2023

IRS backlog lessens; agency plans to resume collection notices

The IRS said all returns received for tax year 2021 or earlier have been processed if the returns had no errors or did not require further review.

April 13, 2023

AICPA encouraged by IRS $80 billion strategic operating plan

In a statement Wednesday, the AICPA said much of the IRS’s spending plan lines up with what the AICPA has requested but still recommends further improvements.

March 13, 2023

Questions about software tracking and reporting for basis of digital assets

Tax practitioners have many questions about how to track and report the basis of digital assets, and no clear guidance exists. Here are tips from the AICPA Virtual Currency and Digital Assets Tax Task Force.

February 21, 2023

AICPA recommends 12 digital asset FAQs for IRS to post online

The AICPA has suggested questions and answers the IRS could post to assist taxpayers and practitioners in answering the question about digital assets that appears on Form 1040.

February 15, 2023

AICPA makes 61 proposals to Congress for changes to the Internal Revenue Code

The 2023 AICPA Compendium of Tax Legislative Proposals — Simplification and Technical Proposals, which includes 61 proposals covering a wide variety of subjects, opens with a proposal to standardize definitions in the Internal Revenue Code so that terms have the same meaning throughout the Code.

FROM THIS MONTH'S ISSUE

Cannabis dispensary denied ERC

The Court of Federal Claims held that Sec. 280E, which prohibits deductions and credits for businesses trafficking in controlled substances, applies to the employee retention credit (ERC), including its refundable portion, and denied a cannabis business’s claim for a refundable ERC.