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Tax Legislation and Policy
Tax Policy Concept Statements
Tax Policy Concept Statement #1—Guiding Principles of Good Tax Policy: A Framework for Evaluation of Tax Proposals
This tax policy concept statement provides a framework to help answer the question: How should proposals to change existing tax rules be analyzed? This question is answered by providing and discussing ten principles that are commonly cited and used as indicators of "good tax policy." Learn More>>
Tax Policy Concept Statement #2—Guiding Principles for Tax Simplification
In this tax policy concept statement, the AICPA reaffirms its support of efforts to reduce complexity in existing federal and state tax laws, and to curtail incremental complexity in the future. The statement sets forth guiding principles to be used in the development of simpler tax legislation and regulations. Learn More>>
Tax Policy Concept Statement #3—Guiding Principles for Tax Law Transparency
This concept statement addresses the "good tax policy" principle of transparency—the basic notion that taxpayers should know (1) that a tax exists, and (2) how and when the tax is imposed on them and others. The statement recommends guiding principles to be used in the development of more transparent tax law. Learn More>>
Tax Policy Concept Statement #4—Guiding Principles for Tax Equity and Fairness
This concept statement addresses the "good tax policy" principle of equity and fairness. TPCS No. 4 identifies and defines seven “dimensions” that should be considered when assessing tax equity and fairness. The statement recommends guiding principles to be used in the development of more equitable and fair tax law. Learn More>>
Tax Reform Studies
Understanding Tax Reform: A Guide to 21st Century Alternatives (2005)
In December 1995, the American Institute of Certified Public Accountants issued Flat Taxes and Consumption Taxes: A Guide to the Debate. The Study was well received by tax experts and regarded as a comprehensive and balanced analysis of consumption tax alternatives. Learn More>>
Understanding Social Security Reform: The Issues and Alternatives, March 2005, 2nd Edition
The American Institute of Certified Public Accountants strongly urges that, before taking a position on a possible solution to the funding shortfall, policymakers and the public need to gain a clear understanding of the issues involved in reforming Social Security.
Report on Reform of Federal Wealth Transfer Taxes (2004). The central concern of this Report is to assess—on the basis of simplicity, compliance, and consistency of enforcement—the temporary repeal of the estate and generation-skipping transfer (GST) taxes, the phase-out period, the continuation of the gift tax after repeal, the modified carryover basis rule, and the alternatives to federal wealth transfer tax repeal. (Joint project of the AICPA, American Bar Association, American College of tax Counsel, American College of Trust and Estate Counsel, and American Bankers Association.) Learn More>>
Advocacy Activities
Report on Civil Tax Penalties: The Need for Reform
On August 28, 2009, the AICPA submitted to congressional tax writing committees and officials at Treasury and the IRS a report on the need for a reform of the civil tax penalty system. Learn More>>
Compendium of Legislative Proposals - Simplification and Technical Proposals
On July 1, 2009, the AICPA submitted to members of Congress a compendium of recommendations for legislative proposals that would correct perceived technical problems in the Internal Revenue Code or that would simplify its existing provisions. Learn More>>
AICPA Supports the MOBILE Cell Phone Act of 2008 (H.R. 5450)
According to a 2004 NFIB Small Business Poll, 78% of small-business owners use a cell phone for business purposes. Learn More>>
AICPA Asks Congress to Reduce Tax Preparer Standard from "More Likely Than Not" to "Substantial Authority"
AICPA Comments on Codifying Economic Substance to Hill Tax-Writing Committees
On March 26, 2007, the AICPA expressed our concerns with the possible codification of the economic substance doctrine. Learn More>>
Tax Increase Prevention and Reconciliation Act of 2005
Check here for links to more information on the new Tax Increase Prevention and Reconciliation Act of 2005.
AICPA Offers Treasury Assistance With Tax Reform
In the wake of the release of the President's Advisory Panel on federal Tax Reform, the AICPA Tax Division offered our assistance to the Treasury Department as it considers proposals for tax reform. Learn More>>
AICPA Offers Preliminary Comments to President's Advisory Panel on Federal Tax Reform
How should the January 7, 2005, proposals to reform the Federal income tax system be analyzed? The AICPA offers its thoughts to the President's Advisory Panel on Tax Reform. Learn More>>
AICPA Recommends Changing Residence Sale Exclusion Year-of-Death Rule
The AICPA proposes allowing taxpayers to take advantage of the section 121 capital gain exclusion for a 12-month period after the death of a spouse. Learn More>>
Legislative Drop-Outs: What's Missing From the New Tax Bill
One of the trickier provisions in § 355 is the application of the active trade or business test of § 355(b) to holding companies. Learn More>>
C-Corps in a Sea of Change: Sub-C International Tax Update
The following outline was created for "C-Corps in a Sea of Change: Sub-C International Tax Update," which covers the repeal of ETI and the new domestic manufacturing deduction. It was presented at the 2004 AICPA National Conference on Federal Taxes. Learn More>>
Summary of International Provisions of the American Jobs Creation Act of 2004
This summary focuses on tax law changes involving cross-border (international) transactions, provisions affecting domestic asset and wealth protection methods, and tax benefits of concern to a large number of individuals and their various advisors. Learn More>>
Planning Opportunities or Pitfalls in the New Tax Law
The Child Tax Credit was increased for the current year from $600 to $1000. After 2004, prior law applies, reducing the credit to $700, with phased increases in future years, back to $1000 in 2010, then back to $500 for 2011. Learn More>>
AICPA Proposes Fiscal Year Flexibility for Emerging Small Businesses
Small businesses are the primary source of the Nation's job creation and economic growth. To make these important contributions, start-up businesses must survive. Census data indicates that 20 percent of start-up businesses fail after only one year. H. R. 3225 would give most small start-ups an additional tool to successfully navigate their turbulent beginnings. Learn More>>
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