NTSP22SS01. Supporting AICPA Members through Tax Advocacy and in their Tax Practices

Jan Lewis, Chair of the AICPA's Tax Executive Committee, and the AICPA Tax Policy & Advocacy and the Tax Practice Management & Ethics Teams will discuss the AICPA's advocacy efforts regarding the Inflation Reduction Act of 2022 (IRA ’22) and how the AICPA supported members through the effort. The panel will also discuss the implications of major legislative initiative not included in IRA ’22 including extenders, as well as IRS service updates. Finally, a major “refresh” to the AICPA’s tax ethical standards, the Statements on Standards for Tax Services (SSTSs), will be covered.

Learning Objectives:

• Determine the prospects for legislation for the remainder of the year including extenders.
• Distinguish the IRS’ efforts to clear its processing backlogs before the upcoming filing season.
• Analyze the AICPA’s project to refresh its tax ethical standards – the Statements on Standards for Tax Services.
• Identify insights into the IRS resources that were provided as part of the Inflation Reduction Act of 2022.
• Calculate the AICPA’s efforts to help members improve the efficiency of their tax practices.