Individuals

    Individual Income Taxation Advocacy 

    This section contains legislative issues and comments regarding individual income taxation.

    The Individual Technical Resource Panel continues to monitor these advocacy issues.

    News and Developments

    Below are recent developments in this area:

    • On November 22, 2013, AICPA submitted a comment letter to Congress to propose permanent tax provisions for disaster relief

    • On October 30, 2013, AICPA submitted a comment letter to the IRS to request for additional guidance on DOMA related tax compliance matters

    • On July 25 and 26, 2013, AICPA submitted comment letters to the Senate and the House of Representatives to recommend further simplification of higher education tax incentives.

    • On July 15, 2013, AICPA submitted a comment letter asking the IRS to reconsider the decision to shut down two online electronic services.

    • On June 17, 2013, AICPA comments on Proposed Regulations under section 1411 - Net Investment Income Tax (REG-130507-11)

    Key Advocacy Issues

    Tax Reform

    The move to reform the tax code is escalating - both Congress and the President have released comprehensive proposals and action could begin as early as this summer.

    • Keep you up to date on tax reform news

    • Share our recommendations for cleaning up the code
    • Outline our principles for sound tax policy

    Domestic Partners and Same-Sex Couples

    Recent U.S. Supreme Court ruling against section 3 of the federal Defense of Marriage Act (DOMA) has deep implications for same-sex couples seeking federal tax benefits. Also, guidance from the IRS on Registered Domestic Partners, is a reminder of the need to understand how state law treats domestic partners and same-sex married couples. Consideration must be given to how the state defines the property rights of these couples and the filing differences between federal and state tax rules.

      Net Investment Income Tax

    Proposed regulations on section 1411 net investment income (NII) imposes a tax on unearned income on investments. The new section 1411 net investment income tax will have a substantial impact on certain individuals, as well as trusts and estates whose income is above the statutory threshold amounts.

    Health Care Reform Resources Center

    On June 28, 2012 the Supreme Court upheld as constitutional, the Patient Protection and Affordable Care Act (the Act). The Act requires the majority of U.S. citizens and legal residents to maintain minimum health coverage or risk paying a penalty in the form of a tax. Only those not required to file income tax returns will be exempt from the penalty.

    Comprehensive List of Advocacy Issues

    AICPA comments on many issues regarding individual taxation, both legislative and regulatory. Available are all the current as well as prior year comments.
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