01/13/2022
Copied from Accounting Firm Influencers :
Washington, D.C. (January 10, 2022) – The American Institute of CPAs (AICPA) president and CEO, Barry Melancon, CPA, CGMA, released a statement following a call with officials from the Department of the Treasury and members of the press:
“Today, Treasury officials acknowledged that the upcoming 2021 tax filing season will be ‘frustrating’ for Americans but stopped short of providing any measures they intend to implement to mitigate the expected challenges. For more than 18 months, the AICPA has repeatedly and publicly recommended to the IRS that they take reasonable actions that would meaningfully reduce persistent, unnecessary and erroneous notifications and help American taxpayers. Halting compliance actions until the IRS can devote the necessary resources for timely resolution of issues; aligning requests for account holds with the time it takes the IRS to process any penalty abatement requests; providing taxpayers with a simplified abatement process; and providing taxpayers with targeted relief from underpayment and late payment tax penalties for the 2020 and 2021 tax years are all actions the IRS can take right now. The AICPA is calling on the IRS to do more than simply state the obvious – taxpayers and practitioners deserve solutions. We urge Members of Congress to join us in this effort.”
