2021 Tax Policy & Advocacy Comment Letters

May 11, 2021 - AICPA Comments on Proposals re: IRS Regulation of Paid Tax Return Preparers
AICPA provides recommendations on the regulation of paid tax return preparers.

April 28, 2021 - AICPA Comment Letter Requesting Relief under Section 473
The AICPA is pleased to submit comments and recommendations requesting relief under section 473 for taxpayers that use the LIFO inventory accounting method which would allow those taxpayers to mitigate substantial and unexpected tax liabilities due to the COVID-19 pandemic.

April 13, 2021 - AICPA Comments on the Legislation to Postpone First Quarter Estimated Tax Payment Deadline for 2021
The AICPA supports H.R. 2437, the Small Business Filing Fairness Act, which would align the 2021 first quarter estimated tax payment deadline with the May 17 postponed deadline for the 2020 Federal individual income tax return filing and payment.

April 8, 2021 AICPA Suggestions on the 2021 Q1 Estimated tax and 2020 Gift Tax Extension Recommendations 
AICPA recommendations on the 2021 Q1 Estimated tax and 2020 Gift Tax Extension.

March 24, 2021 - AICPA Comments on Filing and Payment for all Taxpayers for the 2021 Filing Season
The NAEA and the AICPA are deeply disappointed that the IRS, through IR-2021-59, excludes many taxpayers from the 2021 filing season relief. In particular, the announcement ignores the challenges many small businesses and other taxpayers have suffered as a result of the pandemic.

March 23, 2021 - AICPA Requests Additional Procedural Guidance on Tax Methods & Periods Issues Related to the TCJA
The AICPA is pleased to submit comments related to the request for additional procedural guidance on tax methods and periods issues related to the Tax Cuts and Jobs Act.

March 15, 2021 - AICPA Comments to Request for Additional Guidance and Proposed Solutions for the Tax Treatment of Tax-Exempt Income from Forgiven Paycheck Protection Program Loans to Partnerships and S Corporations
The AICPA is pleased to submit comments on regarding the PPP and treatment of tax-exempt income on passthrough entity basis due to loan forgiveness.

March 11, 2021 - AICPA Comments on Global Intangible Low-Taxed Income (GILTI) Applied to Domestic Passthrough Entities under Subchapter K and Subchapter S
The AICPA provides recommendations on the application of GILTI to partnerships and S corporations, including comments on Notice 2020-69, GILTI applied to partnerships, and GILTI applied to S corporations.

March 4, 2021 - AICPA Comments on Request for Guidance on Changes to Treasury Department Circular No. 230, Regulations Governing Practice Before the Internal Revenue Service (31 C.F.R. Part 10)
The AICPA provided recommendations to Sharyn Fisk, Director – IRS, Office of Professional Responsibility on recommended changes to Circular 230, which contains the rules governing the practice of CPAs and other persons representing taxpayers before the IRS.

March 4, 2021 - AICPA Comments on Postponement for the Filing and Payment Deadline for the 2020 Tax Year
The AICPA urges Treasury and the IRS to act immediately to provide tax filing and payment relief for taxpayers and tax professionals affected by the ongoing pandemic. Specifically, we request that all 2020 Federal income tax, information returns, and payments (e.g., extension and estimated payments) originally due April 15, 2021 be granted additional time to file and pay until June 15, 2021.

March 3, 2021 - AICPA Comments on Request for Guidance Related to AMT Issues under the CARES Act
The AICPA is pleased to submit comments on a request for guidance related to Alternative Minimum Tax (AMT) Issues under the Coronavirus Aid, Relief, and Economic Security (CARES) Act.

February 25, 2021 - AICPA Comments on Estate Tax Closing Letters for Forms 706 and 706-NA
AICPA submitted to Treasury and IRS comments suggesting a check box on Form 706 and Form 706-NA for an estate tax closing letter request and paying the user fee when filing Form 706 and Form 706-NA. The comments are regarding proposed regulations REG-114615-16.

February 25, 2021 - AICPA Comments on the Employee Retention Credit
The AICPA comments are related to the employee retention credit as created by the CARES Act and enhanced and extended by the Consolidated Appropriations Act, has been submitted to the IRS and Treasury.

February 23, 2021 - AICPA Comments on the Certainty and Relief Needed for the 2020 Tax Year
The AICPA appreciates the efforts Treasury and the IRS have made to provide various forms of relief to taxpayers affected by the Coronavirus during 2020 (the 2019 tax year). However, as we approach the April 15 filing and payment deadline for the 2020 tax year, many taxpayers and tax professionals continue to struggle to calculate and make tax payments and prepare and file tax returns. Certainty and further relief are needed.

February 22, 2021 - AICPA Comments on the Guidance Concerning Adjustments Attributable to Conversions from S Corporations to C Corporations under section 481(d)
The AICPA is pleased to submit comments on guidance concerning adjustments attributable to conversations from S Corporations to C Corporations under section 481(d).

February 16, 2021 AICPA Comment on Underpayment and Late Payment Penalty Relief for 2020 Tax Year
AICPA urges Treasury and the IRS to provide certain taxpayers relief from underpayment and late payment penalties for the 2020 taxable year.

January 15, 2021 - AICPA Comments on the Interaction of the Employee Retention Credit and PPP Loans
AICPA comments on the interaction of the Employee Retention Credit and PPP loans as changed by the Consolidated Appropriations Act, 2021.

Tax Policy & Advocacy letters, testimony and related documents for 2013201420152016, 2017, 20182019 and 2020.