When more than 400 leaders of the CPA profession journeyed to Washington, D.C., to attend last month’s AICPA Spring Meeting of Council, visits to Capitol Hill to engage in advocacy of the profession’s legislative goals were a highlight of the agenda. To no one’s surprise, tax reform – which sits atop the list of the Institute’s legislative priorities – was a focal point of the visits.
The AICPA has a longstanding tradition of advocating for sound tax policy and assisting lawmakers on tax policy matters. The proliferation of new income tax provisions since the 1986 tax reform effort has led to complex compliance hurdles for taxpayers, administrative complexity and enforcement challenges for the Internal Revenue Service. The Institute has testified on tax reform before the House Ways & Means Committee and the Senate Finance Committee and submitted technical recommendations to five study groups whose findings will shape legislation expected later this year.