AICPA backs bipartisan tax bills and more

The American Institute of CPAs (AICPA) has expressed its enactment for 4 bipartisan bills aimed astatine enhancing transparency and fairness for taxpayers.

These bills precocious featured successful Senate discussions.

The Electronic Filing and Payment Fairness Act, 1 of the endorsed bills, proposes the exertion of the “mailbox rule” to physics taxation submissions.

This alteration would let the Internal Revenue Service (IRS) to admit physics payments and documents connected the submission day alternatively than erstwhile they are received oregon reviewed.

In a missive to the House of Representatives, the AICPA said that it views this arsenic a affirmative measurement towards simplifying the submission process and protecting taxpayers from imaginable penalties.

Another bill, the Filing Relief for Natural Disasters Act (FRNDA), seeks to expedite taxation alleviation pursuing earthy disasters.

Currently, national catastrophe declarations, which tin beryllium delayed, are required earlier the IRS tin connection taxation relief.

The FRNDA would alteration the IRS to assistance taxation alleviation instantly aft a state-level catastrophe declaration and would widen the mandatory national filing hold from 60 to 120 days, giving taxpayers much clip to record aft a disaster.

The Disaster related Extension of Deadlines Act (DREDA) aims to supply adjacent attraction for catastrophe victims successful presumption of taxation refunds oregon credits.

It proposes an hold of the filing play by the magnitude of the catastrophe alleviation postponement, ensuring that affected taxpayers person the aforesaid opportunities arsenic those unaffected by disasters.

AICPA Tax Policy & Advocacy vice president Melanie Lauridsen “The AICPA has agelong supported these proposals and volition proceed to enactment to beforehand broad authorities that enhances IRS operations and improves the payer experience.

“We are pleased to enactment intimately with each of these Representatives connected common-sense reforms that volition payment taxpayers, taxation practitioners and taxation medication and we’re encouraged by their transition successful the House. We look guardant to continuing to enactment with Congress to amended the payer experience.”

Earlier successful April 2025, the AICPA Accounting and Review Services Committee (ARSC) issued a clarification connected the modular for fiscal connection mentation wrong lawsuit advisory services (CAS) engagements.

The Statement connected Standards for Accounting and Review Services (SSARS) No. 27 addresses the applicability of AR-C Section 70 to fiscal statements prepared arsenic portion of a consulting services engagement, providing further guidance to accountancy professionals.

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