Tuesday, October 18, 2005

AICPA Takes a Stand on Tax Reform

Stating that tax reform would be difficult to adjust to but necessary, the American Institute of Certified Public Accountants set forth ten policy objectives that should be goals of any tax reform package. These goals include: simplicity, fairness, economic efficiency and growth, neutrality, transparency, minimization of noncompliance, cost-effective collection, adequate revenue collection, certainty and convenience of payment. Pam Pecarich asserts that the underlying report provides a balanced look at different types of tax proposals.

Whether the AICPA has caught up with the legal profession in its knowledge of tax policy is very much open to question, but the Institute certainly has set forth reasonable objectives and deserves a place at the table in the upcoming discussion of tax reform.

Additional stories available (as of 1615 GMT) at Roth CPA Updates, Tax Analysis and WebCPA (see links at right).


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