The AICPA is asking accountants to reach out to their congressional representatives and protest the proposed elimination of the ability of pass-through entities like accounting firms to deduct state and local taxes.
The AICPA sent out a call to action on Friday, May 16, urging CPAs to contact their members of Congress and voice their opposition to the “unfair targeting” of pass-through businesses in the tax reconciliation bill moving through Congress through the elimination of the Pass-through Entity Tax SALT deduction.
The institute said it is concerned about the language of the legislation, known as the “One Big, Beautiful Bill,” that would eliminate the ability of certain pass-through entities, including accounting firms, to take advantage of the state and local tax deduction for pass-throughs. Read more.