The U.S. House of Representatives passed a bill that includes a provision the accounting profession and the American Institute of Certified Public Accountants have supported that would equalize the tax return reporting standards for tax preparers and taxpayers."Today's action by the House is a significant step forward in our fight to solve a critical problem for CPAs nationwide," said Barry C. Melancon, president and chief executive officer of the AICPA.
Twenty-three states have approved laws to make it less burdensome for certified public accountants to represent clients across state lines.The American Institute of Certified Public Accountants is seeking enactment of similar laws in every state so that a national uniform mobility system will become a reality for CPAs, CPA firms, and the state boards of accountancy that regulate them.
The U.S. House of Representatives has passed two provisions that the accounting profession has strongly urged Congress to adopt. One provision would restore the proper relationship between tax preparers and taxpayers by equalizing IRS disclosure standards. The other provision would free businesses from onerous recordkeeping requirements for cell phones. The provisions are included in H.R. 5719, the "Taxpayer Assistance and Simplification Act of 2008," passed by the House on April 15.