The AICPA recently delivered a collection of tax proposals to the U.S. House Ways and Means and Senate Finance Committee.
The 2023 compendium of tax proposals outlines AICPA’s positions on several legislative proposals that address recent changes to the nation’s tax rules.
The compendium focuses on improving tax administration, making the tax code fairer and promoting important policy objectives. The proposals correct several technical problems in the Internal Revenue Code of simply existing provisions.
The AICPA’s 61 recommendations include proposals related to employee benefits, individual income tax, international tax and tax administration.
Specific proposals address the tax treatment for health insurance deductions, refunds of remaining tax credits from the prior corporate alternative minimum tax regime and repeal of the LIFO conformity rule.