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Tax Advocacy

		What is the AICPA Doing for You in Washington? The AICPA's ability to shape tax regulations and laws means a more workable tax system for practitioners and taxpayers. We advocate on members' behalf with federal lawmakers and regulators to ensure that the CPA’s voice is heard. Some of the key issues that we are working on in 2013 include: Tax season administration Income tax simplification/tax reform Tax on net investment income (Sect. 1411) Interstate tax compliance (mobile workforce) Due Dates for K-1s and other business returns Foreign asset reporting

What is the AICPA Doing for You in Washington?

The AICPA's ability to shape tax regulations and laws means a more workable tax system for practitioners and taxpayers. We advocate on members' behalf with federal lawmakers and regulators to ensure that the CPA’s voice is heard.

Some of the key issues that we are working on in 2013 include:

Tax season administration
Income tax simplification/tax reform
Tax on net investment income (Sect. 1411)
Interstate tax compliance (mobile workforce)
Due Dates for K-1s and other business returns
Foreign asset reporting

Follow the links under Hot Topics to learn more about the current issues that affect your practice or organization and AICPA's position and advocacy on those issues. You can also read The CPA Advocate to learn the latest in AICPA advocacy. Key Advocacy Successes (below) lists some of the results we have produced so far.

		AICPA’s Role in Tax Reform Edward Karl, VP-Taxation, and Melissa Labant, Director-Tax Advocacy and Professional Standards, discuss the AICPA’s current and anticipated tax reform efforts.

Hot Topics

Highlights of our current advocacy projects include:

Impact of Delayed Forms
The AICPA requested a dialogue with the IRS to review the impact of delayed forms on compliance and related issues such as penalties.

3.8% Tax on Net Investment Income -- Taxpayers need a much simpler method in computing income subject to the 3.8% “Medicare” surtax, the AICPA commented in a letter to the Office of Management and Budget and IRS.

Foreign Asset Reporting
To make compliance easier, the AICPA recommended several changes, including consistency in valuation methods of SFFAs for Form 8938 and FBAR.

Due Dates for Business Returns
Legislation proposed by the AICPA has been introduced that would change due dates to eliminate the problems caused by late K-1s.

Tax Reform / Simplification - Many technical aspects of the code could be cleaned up while larger tax policies are being considered. We offered dozens of proposals to Congress to simplify tax administration.

Key Advocacy Successes

The AICPA meets regularly with federal officials and lawmakers to address issues of concern to CPAs and we get results:

Estate Tax Compliance – The IRS adopted many of our comments on the Form 706 instructions, resulting in clearer filing requirements.

Nonprofit Tax Compliance - The IRS adopted some of our suggestions to streamline Form 990, making tax administration for easier for exempt organizations.

Foreign Bank and Financial Accounts (FBAR) - We successfully sought a due date extension for certain prior year FBARs.

Tangible Property Regulations
Some taxpayers will be significantly affected by these regulations - we provided comprehensive recommendations to lessen their impact, especially on small business.