AICPA and Bar Offer Tax Simplification | AccountingWEB

AICPA and Bar Offer Tax Simplification

Several of the largest organizations involved in taxation issues has offered sage advice to Congress regarding tax simplification.

The American Institute of CPAs, the American Bar Association and the Tax Executives Institute sent comments to Washington in the hopes that their opinions will be heard.

Areas mentioned for simplification include the Earned Income Credit, the "half" measure for early withdrawals from retirement accounts, the Alternative Minimum Tax, minimum distributions from an IRA, the Child Tax Credit and a few other items.

In response, Senate Finance Committee Chairman William V. Roth Jr. said all recommendations would be considered.

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