AICPA Urges Congress to Provide IRS with Adequate Funding to Enforce Tax Laws and Assist Taxpayers and Tax Practitioners
Published February 19, 2014
Contact: Shirley Twillman, 202-434-9220, email@example.com.
The American Institute of CPAs (AICPA) today submitted written testimony for the record of the Feb. 5, 2014 House Ways and Means Oversight Subcommittee hearing entitled “State of the Internal Revenue Service.” The AICPA urged Congress to “fully fund the IRS budget in order for it to carry out its mission effectively and efficiently.”
In its testimony, the AICPA stated that while it is important that Congressional oversight ensure the resources provided to the Internal Revenue Service (IRS) are properly used, it is “deeply concerned about the adverse impact to taxpayers and tax practitioners from a decrease in the IRS’s budget.” The IRS “needs sufficient operating funds to properly administer and enforce our complex tax laws, as well as provide assistance to taxpayers and their advisers.”
The testimony noted that the “onslaught of new issues, including administration of the Affordable Care Act and extensive new reporting requirements under the Foreign Account Tax Compliance Act, and the alarming increase in taxpayer identity theft cases are substantially encumbering the IRS’s already limited resources.”
For more information, or to speak with someone about the AICPA’s written testimony, contact Shirley Twillman at firstname.lastname@example.org or 202.434.9220.