The complexity and uncertainty surrounding the tax code affects tax practitioners and taxpayers alike. The code has reached nearly 4 million words and, according to one estimate, 4,107 changes to the tax code have been made since 2004, an average of more than one a day.
- Simplifying the income tax rate structure
- Consolidating education tax incentives
- Eliminating temporary provisions that cause tremendous uncertainty for taxpayers
- Retaining the cash method basis of accounting
- Making the tax system (including retirement plan administration) friendlier for small businesses
Based on Guiding Principles for Good Tax Policy: Framework for Evaluating Tax Proposals, the AICPA advocates for many changes, such as:
|Tax Advocacy Efforts|
The AICPA's thought leadership is widely respected by policy makers; we have laid significant groundwork to help shape future tax reform legislation.
- Broad Cuts in House GOP Blueprint for Tax Reform, Wall Street Journal, June 2016
- Ways to Make Tax Compliance Less of a Nightmare for Small Business, Journal of Accountancy, April 2016 (AICPA comments on small business tax reform)
- Why Keeping the Cash Method is Important; AICPA Insights, June 2016