CPA Group Sends Congress a Wish List for Tax Code Changes

By Laura Davison, Bloomberg BNA

The American Institute of CPAs sent a wish list of tax code simplifications and technical changes for lawmakers to consider as Congress debates a possible tax overhaul next year.

The suggestions, addressed to the chairmen and ranking members of the two tax-writing committees, include single, consistent definitions of “small business” and ““modified adjusted gross income.” The group also asked for harmonization of rules governing similar but separate tax-related provisions, including different types of retirement accounts and education tax credits.

The list is one of what is expected to be a slew of requests from business ...