Passthrough entities would lose ground compared with corporations under tax language in the Senate Finance Committee bill, the AICPA said in a letter to legislative finance leaders.
AICPA Advocacy
Elimination of PCAOB can’t remain in budget bill, Senate official rules
The Senate parliamentarian’s office determined that a provision aimed at folding the PCAOB into the SEC doesn’t qualify for the budget reconciliation process.
AICPA makes Priority Guidance Plan recommendations to IRS
In addition to its 183 recommendations for the IRS plan, the AICPA encouraged the agency to continue to pursue tax simplification.
Strong feelings on limiting the use of CPA
AICPA’s Susan Coffey shares feedback on her recent article about employers asking partners and employees to remove “CPA” from their public profiles. The responses confirm this is an issue that some are grappling with.
53 CPA societies back AICPA in PTET SALT deduction effort
A letter from the AICPA and CPA societies in 53 states and jurisdictions criticizes the provision in the House version of the budget bill that would eliminate the state and local tax deduction for certain passthrough entities.
AICPA publishes additional resources in push to preserve PTET SALT deduction
The passthrough entity tax/state and local tax deduction remains a priority for the AICPA. The budget bill now being considered by the Senate does not allow certain service-based businesses to deduct state and local taxes.
IRS hotline questions resolved faster in 2025; concern grows about agency’s future
An annual survey of AICPA members about IRS service showed the majority of respondents are concerned that political distractions will affect agency funding and administration in the future.
Display that CPA
CPAs should be encouraged to highlight their license in their business dealings. Susan S. Coffey, CPA, CGMA, CEO–Public Accounting at the Association of International Certified Professional Accountants explains why.
AICPA recommends changes to prop. regs. on PTEP, related basis adjustments
The recommendations, sent Tuesday in a letter to Treasury and the IRS, include that the IRS expressly allow taxpayers to rely on proposed regulations until they are final.
Why the PTET SALT deduction is the AICPA’s ‘No. 1 priority’
An AICPA tax leader updates listeners on key points of the tax portion of the House budget bill. She also details some of the AICPA’s sticking points and potential “wins” — and explains why IRS service may soon decline. Listen to the podcast episode or read the Q&A.
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SPONSORED REPORT
Preparing clients for new provisions next tax season
As the 2025 filing season approaches, H.R. 1 introduces significant tax reforms that CPAs must be prepared to navigate. These legislative changes represent some of the most comprehensive tax updates in recent years, affecting both individual and corporate taxpayers. This report provides in-depth analysis and guidance on H.R. 1.
